> For the complete documentation index, see [llms.txt](https://docs.flurry.finance/flurry-finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.flurry.finance/flurry-finance/governance/fund-management.md).

# Fund Management

As users deposit stablecoins to the Flurry Protocol, the smart contract places them in the **USDT vault**, **USDC vault**, or **BUSD vault**, and the vaults’ contract mints the corresponding rhoTokens on a 1:1 basis. These rhoTokens are deposited in the users’ wallets. 

All stablecoins received will be rebased and deployed everyday according to the **Flurry Protocol algorithm**.

The Flurry Protocol will maintain a certain amount of **cash on hand** in order to facilitate smaller redemptions. 

When users **redeem** their rhoTokens for stablecoins, **the corresponding vault will burn the rhoToken**, and return the underlying stablecoin to the user’s wallet.

More can be referenced on the flow of funds about **Lending Protocols** of Flurry by the portal below:

{% content-ref url="/pages/-MgsDow6zBcpAfjP-1Hw" %}
[Lending Protocols](/flurry-finance/the-rhotoken/yield-generation-mechanism/lending-protocols.md)
{% endcontent-ref %}


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