> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ezpz.fi/llms.txt
> Use this file to discover all available pages before exploring further.

# USDC collateral

> How USDC backs every prediction on ezpz.fi.

All trading on ezpz.fi is collateralized in **USDC** — a dollar-pegged stablecoin on Solana. You deposit USDC, trade outcome tokens, and withdraw USDC. There is no separate platform token used as collateral.

## Full collateralization

Every YES/NO pair is backed by USDC locked in the market:

| Action           | What happens                                 |
| ---------------- | -------------------------------------------- |
| **Mint**         | \$1 USDC (minus fees) → 1 YES + 1 NO token   |
| **Redeem (win)** | 1 winning token → \$1 USDC from market vault |
| **Lose**         | Losing tokens → \$0                          |

The market **USDC vault** holds all player stakes for that market. Winners are paid from the same vault — not from a house bankroll.

## Where your USDC lives

| Location             | Purpose                                           |
| -------------------- | ------------------------------------------------- |
| **Custodial wallet** | Spendable USDC balance; holds your outcome tokens |
| **Market vault**     | USDC backing open positions on a specific market  |
| **Parlay pool**      | USDC backing parlay predictions                   |
| **Fee vaults**       | Platform and maker fees skimmed at mint           |

## Devnet vs mainnet

On **devnet**, ezpz.fi uses a test USDC mint for development. On **mainnet**, standard USDC applies. Always confirm which network you are on before depositing.

## Related

* [Outcome tokens](/concepts/outcome-tokens) — mint, swap, redeem flow
* [Fees](/trading/fees) — what is skimmed at mint time
* [Deposit & withdraw](/trading/deposit-withdraw) — funding your account