# Case Study: Network-Issued “Restaking Bonds” with Flow Vaults

By [Renzo Protocol](https://paragraph.com/@renzo-protocol) · 2025-06-26

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**Why This Matters**

AVSs (Autonomous Verifiable Services) often need guaranteed, term-locked security rather than open-ended deposits that can disappear overnight. Traditionally, restaking is variable-rate and with on-demand withdrawals, making it difficult for AVSs to plan their security.

Flow’s time-based bond vaults turn restaking into a predictable, fixed-income instrument. Depositors lock an asset (e.g., Agora’s AUSD) for a pre-defined term at a pre-negotiated APY. The network secures known capital for a known time, while depositors earn a yield that looks and settles like a zero-coupon bond coupon.

**The Challenge**

Certain AVSs need hard guarantees that collateral stays put during a certain period of time and can’t risk mid-cycle withdrawals.

Institutional LPs prefer fixed, predictable returns to fluctuating restaking yields.

Operators want security budgets they can size infrastructure against, not TVL that oscillates with market pumps.

**How Flow “Bond Vaults” Work**

_1) Parameter Setup_

The AVS or vault curator defines a deposit asset, duration of bond, payment, and hard TVL limit.

_2) Vault Launch_

Renzo and Concrete launch the vault with a specific raise window. Depositors receive a reward-bearing receipt token for the duration of the bond.

_3) Restake and Delegate_

TVL is restaked and delegated to the AVS that requires guaranteed security.

_4) Maturity and Payout_

Upon maturity of the Flow bond, depositors can claim the underlying principal as well as the accrued interest.

**Benefits at a Glance**

*   The vault’s restaked assets are immovable for the term, perfect for AVSs that need security guarantees.
    
*   Fixed-rate yield looks like a zero-coupon bond and allows for better planning.
    
*   Tradable receipt tokens allow flexibility for LPs who need to exit early.
    
*   No hassle implementation: everything is taken care of by Renzo and Concrete on the backend.
    

**Looking Ahead**

Time-based Flow vaults let any network have a guaranteed, fixed-term security layer, while offering depositors a clean, tradable yield product. If your organization is interested in “restaking bonds”, Renzo and Concrete can build you a custom solution in days. Reach out to us directly to learn more.

Restake with Renzo and Compound with Concrete.

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*Originally published on [Renzo Protocol](https://paragraph.com/@renzo-protocol/case-study-network-issued-restaking-bonds-with-flow-vaults)*