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🪙Tokenization (ZC Tokens)
Turn lending positions into transferable ERC-20 ZC Tokens
Lending positions can be tokenized as standard ERC-20 tokens — called ZC Tokens — and withdrawn from the platform. A ZC Token is a portable claim on the underlying position: transfer it to another wallet, trade it on secondary markets, or use it in other DeFi protocols. Deposit it back at any time to manage the position inside the app again.
How it works
Withdraw as token: select a lending position and mint the corresponding ZC Token to your wallet. Partial amounts are supported.
Deposit back: the token is burned and the position is credited to your protocol account.
Two token types:
ZC Tokens carry a specific maturity (e.g. ZC ETH DEC2026) and are minted from the FutureValueVault.
ZC perpetual tokens (maturity = 0, e.g. ZC ETH) represent auto-rolled positions in Genesis Value terms and are minted from the GenesisValueVault.
ZC Token minting process
ZC Token burning process
Naming conventions
Example for a December 2026 expiry:
Asset
ZC Token name
Symbol
Perpetual name
Perpetual symbol
ETH
ZC ETH DEC2026
zcETH-2026-12
ZC ETH
zcETH
WBTC
ZC WBTC DEC2026
zcWBTC-2026-12
ZC WBTC
zcWBTC
USDC
ZC USDC DEC2026
zcUSDC-2026-12
ZC USDC
zcUSDC
Wallets with short symbol limits (e.g. MetaMask, 11 characters) display a compact form: zcETH26D (month codes: M=Mar, J=Jun, S=Sep, D=Dec). If a token doesn't appear automatically, import it manually using the contract address shown in the app.
What happens at maturity
A ZC Token's claim reaches par at maturity, but — as everywhere in the protocol — there is no automatic settlement. Deposit the token back into the platform, where the position follows the standard Auto-Roll / unwind flow.
Common questions
Can I tokenize part of a position?
Yes. Mint ZC Tokens for any portion; the remainder stays as a regular position in your account.
Are ZC Tokens tradable outside Secured Finance?
They are standard ERC-20s, so yes — subject to whatever liquidity exists on external venues. They can also serve as collateral in protocols that choose to accept them.
What's the difference between a ZC Token and a ZC perpetual token?
A ZC Token references one maturity and converges to par on that date. A perpetual ZC token represents a continuously auto-rolled position (accounted in Genesis Value), with no single maturity date.
