> For the complete documentation index, see [llms.txt](https://delpho.gitbook.io/delpho-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://delpho.gitbook.io/delpho-docs/using-delpho/stake-usdv-to-susdv.md).

# Stake USDV to sUSDV

Staking USDV gives you sUSDV, the yield-bearing form of the asset. Yield comes from the protocol's delta-neutral funding capture on Hyperliquid perpetuals.

For current LTV, liquidation threshold, and liquidation fees, see [Parameters](/delpho-docs/parameters.md).

## Steps

1. Hold USDV in your wallet. You can mint it (see [Mint USDV with USDC or USDT](/delpho-docs/using-delpho/mint-usdv-with-usdc-or-usdt.md), or [Mint USDV with HYPE or kHYPE](/delpho-docs/using-delpho/mint-usdv-with-hype-or-khype.md)) or buy it from a liquidity venue.
2. **Connect wallet** to the Delpho dapp.
3. Go to the **Stake** section.
4. **Enter the amount** of USDV you want to stake.
5. **Approve** USDV if needed.
6. **Stake** in a single transaction. You receive sUSDV in proportion to your share of the staking pool.

## How yield accrues

Yield accrues per-share, not per-balance. Your sUSDV balance does not change as yield accrues. The dollar value of each sUSDV unit grows as the protocol captures funding.

When you unstake, you receive USDV equivalent to your pro-rata share of the underlying USDV pool plus accrued yield.

### sUSDV and auto-deleverage

Staking USDV is also what makes auto-deleverage available on a Delpho borrow position. If you have an open borrow position and want to enable auto-deleverage, hold sUSDV alongside it: the protocol will unstake sUSDV and repay USDV automatically as your LTV approaches the liquidation threshold. See [Manage your borrow position](/delpho-docs/using-delpho/manage-your-borrow-position.md).

## What to watch

* **Current funding rate**: visible in the dashboards (see [Live transparency and dashboards (Pending)](broken://pages/oIwxBJ030zu7hxPmXmP7)). Higher positive funding means higher yield accrual. Negative funding means yield can compress to zero.
* **Per-share value:** visible in the dapp. The dollar value of each sUSDV unit rises as funding accrues. During negative funding, accrual can slow; at V1 the treasury reserve buffers short-term gaps. A yield-distribution pause is planned for a future release.
* **Redemption window**: see [sUSDV mechanics](/delpho-docs/how-delpho-works/susdv-mechanics.md). \[PENDING: confirm presence and length of any redemption window before launch.]

## Risk reminder

sUSDV yield is variable. It is not a fixed coupon. In sustained negative-funding periods, yield can fall to zero. See [Funding rate risk](/delpho-docs/risk/funding-rate-risk.md) for the failure-mode treatment.