> For the complete documentation index, see [llms.txt](https://docs.townsq.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.townsq.xyz/model-innovations/institution-backed-yields.md). # Institution-backed yields TownSquare introduces several sources of institution-backed yield to retail * **Trading yield** Hedge funds & trading teams can curate self-deployed vaults on TownSquare based on their factor trading, delta-neutral trading, and arbitrage opportunities. Non-delta-neutral strategies involve a maximum drawdown setting that stop losses in one-sided market. A performance fee is charged by curators based on realized profit. * **Private credit yield** Cash-flow businesses are traditionally available only to private equity funds. Private credit yields supported by private credits issued by cash-flow businesses via credible onchain issuers, can be offered on TownSquare vaults deployed by the asset managers, curated by the respective asset issuer and manager. * **RWA yield** RWAs such as tokenized gold, silver, oil, and other commodities could yield via interests via banking partners or commodity trading strategies. RWA vaults are curated via specialized asset issuer and management companies in case of reserve proof and security. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.townsq.xyz/model-innovations/institution-backed-yields.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.