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# sBRD
The BRL yield product, auto-staking on Solana and an ERC-4626 vault on EVM.
sBRD is the BRL-denominated yield product, backed by the same Brazilian Treasury LFTs that reserve the stablecoin. The rate tracks the Brazilian policy rate, currently around 14%.
## How to reach it
Directly with a BRD Digital account, through a partner, or on-chain. See [Yield](/brd-digital-docs/yield.md).
## How the yield reaches you
This depends on the network, and it is the most common point of confusion.
**Solana, auto-staking.** Hold BRD and rewards accrue automatically. No deposit, no staking transaction, no separate token. Your BRD balance grows in place. Accrual applies to verified holders, and there is no sBRD token on Solana. The yield accrues on BRD itself.
**Ethereum and Base, ERC-4626 vault.** Deposit BRD into the vault contract and receive sBRD, vault shares that appreciate against the underlying as yield accrues. ERC-4626 is the standard vault interface, so the shares behave the way integrators expect and compose with lending markets without custom work.
## Contracts
The vault uses deterministic addresses, so sBRD carries the same address on Ethereum and Base.
The BRD contracts are on [Stablecoin](/brd-digital-docs/stablecoin.md).
{% hint style="warning" %}
Always verify a contract address against this page or the dashboard before transacting. Never take an address from an email or a direct message.
{% endhint %}
## Terms
* **Underlying:** Brazilian Treasury LFTs, 100%.
* **Rate:** floats with the Brazilian policy rate.
* **Fees:** waived, so the net rate paid to holders is the benchmark rate.
* **Denomination:** BRL. A balance of 1,000 is 1,000 BRD.
## Risk
The collateral is held off-chain and carries no smart-contract risk. Taking the position into a lending market adds that protocol's smart-contract risk, in exchange for the returns looping can produce. See [Yield](/brd-digital-docs/yield.md).
## Related pages
* [Yield](/brd-digital-docs/yield.md), the thesis and the risk breakdown
* sBRDusd, the USD-settled product
* Proof of Reserves, what backs it
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