Rewards for Lenders

Bend offers additional yield on Berachain’s native stablecoin [

HONEY](/general/tokens/honey). Each [Vault](/bend/learn/vault) is managed by [Curators](/bend/learn/curator), who choose which [Markets](/bend/learn/market) supply

HONEY as a loan for specific collateral (

WETH,

WBERA, $WBTC, etc.).

Vault APY yields

A vault may offer one or both of:

Native APY — Yield from lending $HONEY in the vault’s markets.
**[ $BGT Yield](#bgt-yield)** — Yield from staking vault shares in an eligible [Proof-of-Liquidity Reward Vault](/general/proof-of-liquidity/reward-vaults) in the form of$ BGT.

Native APY comes from lending

HONEY to the collateral types the vault's Curator has enabled. APY depends on borrow rates and utilization—how much of the supplied

HONEY is borrowed.

Each vault shows its allocation and supply yield.

BGT yield comes from [validators directing

BGT emission / block rewards](/general/proof-of-liquidity/block-rewards) to a Bend vault’s whitelisted Reward Vault. When you supply

HONEY to a vault, you receive receipt tokens (shares). Stake those receipt tokens in a whitelisted Reward Vault to become eligible for

BGT yield.

You must stake the receipt tokens and claim

BGT to receive

BGT yield.