How Stablecoin Apps Buy Distribution on Top of a Vault

A vault pays every depositor the same rate. The one who arrived today and the one who has held since March. The one who came alone and the one who brought four friends. Same number.

That rate is the floor. Distribution is what you build on top of it.

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The yield is not yours to compete on

A curator's product is yield, and the same product goes to every app that asks for it. Coinbase, Kraken and Robinhood each run a curated vault behind their own earn tab. Two apps on the same vault pay the same rate, because it comes from the same place.

Trading Strategy tracks 147 curators running $20.5B in stablecoin vaults as of August 2026. The top three hold about 40%. The other 60% moves on yield and on name recognition. If you are not one of the big names, the rate alone will not bring deposits, and it will not keep them.

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What you can pay for on top

The layer you own is the reward on top of the yield: stablecoins or tokens paid for the behavior you want.

A first deposit.

A balance held past 90 days.

A user who invited three others who also deposited.

A card payment or a recurring transfer, if the vault sits behind a consumer app.

Same vault underneath. The app on the right is buying the behavior it wants. The app on the left is hoping the rate does it.

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Set a different rate for each vault

An app rarely runs one earn product. Some need new depositors, some need the depositors to stay, and some have a sponsor asking what its money bought. One campaign rate for all of them is the wrong answer to three different questions.

The reward is paid in what the depositor already holds, a stablecoin like USDC, or in the token of whoever is sponsoring the vault. Each vault gets its own rate, its own currency and its own budget.

The mature vault pays a base APR to keep what it has. The new one pays a boosted APR to fill up. The sponsored one pays the sponsor's token on top. Same program, three different jobs.

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Pay the partner on a separate line

Two people bring a deposit to your vault: the depositor, and whoever routed them there. An aggregator, a wallet, a front end, a desk.

Pay the partner out of the depositor's reward and you are choosing to pay the depositor less. Pay the partner on their own line, as a commission in the same stablecoin, and you know what each channel cost.

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What Fuul does

Fuul reads the balance in the vault and the events around it, applies your rules per vault and per audience, and pays the reward in stablecoins or tokens on top of whatever the vault already yields. A new vault is a new trigger with its own rate and its own budget.

The yield is a commodity. The reward layer is the only part of distribution you own.

Book a demo at fuul.xyz.