> For the complete documentation index, see [llms.txt](https://elysia.gitbook.io/elusd/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://elysia.gitbook.io/elusd/reward/yield-source.md).

# Yield Source

ELUSD’s yield is derived from the Kimchi Premium (**KIMP**)  between the Korean and global crypto markets.

An automated trading engine repeatedly executes the following strategies across premium regimes to capture structural arbitrage:

1. When the KIMP is low → Sell USD / Buy USDT
2. When the KIMP is high → Sell USDT / Buy USD

<figure><img src="/files/FrG3SVMix13p4V8wtLxf" alt=""><figcaption></figcaption></figure>

Realized profits are aggregated on-chain and credited to the ELUSD staking pool, which is reflected as an increase in the sELUSD exchange rate over time.