> For the complete documentation index, see [llms.txt](https://docs.yo.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.yo.xyz/protocol/yovault-tokens.md).

# yoVault Tokens

In a nutshell, yoVault tokens are a basket of yield-generating pools for a specific asset exposure. This means that yoETH is a basket of ETH pools, yoBTC a basket of BTC pools and so on. Anyone can mint yoTokens by depositing the corresponding underlying asset into the YO protocol, and anyone can redeem yoVault tokens for underlying assets. 

<figure><img src="/files/5m58UM8hJlZv5158zLYB" alt=""><figcaption></figcaption></figure>

yoVault tokens are fully self-custodial, compatible with any wallet that supports ERC20 tokens.&#x20;

### Yield-bearing tokens

yoVault tokens like yoETH are yield-bearing in nature as the assets that collateralize the token are invested in yield-generating pools across DeFi. As the value of those pools increase relative to the underlying asset of the vault, the exchange rate of yoToken <> underlying asset keeps increasing.&#x20;

Users do not need to interact with the protocol to claim or harvest yield. Simply by holding yoTokens in their wallet, they are already earning yield on the underlying asset. yoTokens are not rebasing to facilitate composability with partner protocols.&#x20;

<figure><img src="/files/bsl65bPrBn93TKZn0qz1" alt=""><figcaption></figcaption></figure>


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