When users vault yield-bearing assets into the Utility Chain, Last takes a percentage of the yield generated by these assets (a rake). The rake is set to be higher at launch when TVL is lower and will gradually be adjusted down to ensure that value accrual remains consistent as the TVL of the chain grows.

The chain’s thesis is to acquire yield-bearing assets at a low risk position in order to maintain a consistent stream of yield over time. The chain assumes that ve-staked governors are acting in their own self-interest, and always vote in a way that maximizes their investment. Therefore, the chain assumes that there will be natural demand for emissions towards riskier assets from veGovernance, and will act as a balance in incentivizing and investing in its own lower risk assets to build a long-term diversified basket of yield-bearing assets.