> ## Documentation Index
> Fetch the complete documentation index at: https://docs.royco.org/llms.txt
> Use this file to discover all available pages before exploring further.

# For Liquidity Providers

> Choose your yield. Get liquid, protected yield (Senior), high-yield (Junior), or market-making (SLP) exposure, all based on the same underlying strategy.

**Senior - Access Strategies with Liquidity:** Invest in duration strategies without the lockup. Receive protected exposure to the underlying yield without giving up flexibility.

**SLP - Access Higher Returns with a Buffer:** By combining Senior exposure with stablecoins, the SLP Tranche earns both the underlying yield and a liquidity premium. This can result in higher returns than the underlying while maintaining a risk profile similar to, or safer than, the underlying itself.

**Junior - Access the Highest Return:** The Junior Tranche takes the first loss in exchange for the highest yield of the three tranches. Royco's Observation Period means a Junior position is only marked down when a NAV drop is genuinely severe or sustained.

**Risk is quantified upfront:** Every market's contracts transparently define how stress events are handled, removing uncertainty around downside scenarios. 

**Collateral/DeFi:** Royco tokens are fully composable, so they can be used in DeFi as collateral or to fix rates.