# Term - trUSD

Reservoir's term based token, **trUSD** is available to non-U.S. users and users in non-sanctioned countries. **trUSD** offers users the ability to mint a fixed yield token receiving scheduled cash flow payments. The term asset is structured so that users can always buy different terms at different maturities, and the maximum duration is configurable by the smart contract.

Key features:

* Crypto’s first smart contract term-based source of capital 
* Reservoir uses **trUSD** to fund Real World Assets & DeFi yield strategies (liquidity pools, money markets, and yield protocols)
* Allows users to lock funds for a fixed term and interest rate with different maturities

<figure><img src="/files/43WgNMGEJvCfaOa355iz" alt=""><figcaption></figcaption></figure>

In the example above, a user on 4/10/22 can purchase one of five terms at indices: 1, 2, 3, 4, and 5, with the dates for the cash flow and redemption payments. The implementation uses ERC1155, providing a standardized indexed set to enable smart contracts to make all the necessary calculations related to the dates of maturities. When the smart contracts are first deployed, **trUSD** is given a genesis timestamp, from there the redemption dates and coupon dates are deterministically calculated represented by the vertical lines.

Each term is represented by an index and shown as a grey rectangle in the diagram. The rectangle's right edge aligns with the redemption and last cash flow dates. The intersection of previous vertical lines can identify the other cash flow dates.


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