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Where Does the Yield Come From?

Camino Treasury yield is backed by short-term U.S. Treasury bills (T-bills) through the M^0 protocol. Holdings denominated in C0 are entitled to a share of the T-bill yield generated by the underlying collateral — distributed weekly through an on-chain YieldDistributor.

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What is M^0?

M^0 is a decentralized protocol that issues the M token. Each M token is backed 1:1 by short-term U.S. Treasury bills held by independent, regulated custodians. The protocol provides full collateralization and transparent on-chain verification of reserves.

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How Yield Flows to You

1

Deposit Stablecoins

You deposit USDC into Camino Treasury and receive C0.
2

Hold C0

Your C0 balance is recorded on-chain. The operator tracks balances over each yield period.
3

Period Publishes

At the end of each weekly period, the operator publishes a merkle root to the on-chain YieldDistributor. The root commits to every eligible holder’s allocation for that period.
4

Claim Your Share

Submit your merkle proof to the distributor’s claim() to receive the period’s yield directly to your wallet. GET /v1/yield/{address} returns ready-to-submit claim entries; GET /v1/yield/artifacts?periodId=N returns the full period artifact so anyone can independently verify what’s committed on-chain.

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Yield Characteristics

  • T-Bill Backed — Yield comes from U.S. government debt, not DeFi lending or liquidity mining.
  • Weekly Distribution — Roots are published per period; claims are independent on-chain transactions.
  • Independently Verifiable — Every period’s full merkle artifact (root, leaves, proofs) is public.
  • Fully Collateralized — Every M token is backed 1:1 by T-bill reserves.

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Next Steps

Deposit and Start Earning

Deposit stablecoins into C0

Yield Tracking

List your claimable allocations and submit on-chain claims