> ## Documentation Index
> Fetch the complete documentation index at: https://docs.blockhouse.app/llms.txt
> Use this file to discover all available pages before exploring further.
# Senior and Junior tranches
> Deposit into the Senior or Junior tranche through Royco.
Besides Base, the vault offers two [tranches](https://docs.blockhouse.app/reference/glossary.md#tranche) through Royco: **Senior** (protected) and **Junior** (first loss, with a higher APY).
**1. Choose a tranche**
Choose **Senior** or **Junior** at the top of the panel, then enter an amount in USDC.
If you already hold Bedrock shares from a Base deposit, you can pay with them instead: choose **Use Bedrock shares instead**, then enter the number of shares.
Paying in USDC needs a verified wallet, because the USDC goes into the Bedrock vault first. See [Verify with Keyring](https://docs.blockhouse.app/vaults/verify-with-keyring.md).
**2. Review and sign**
Choose **Review Senior deposit** or **Review Junior deposit**. The review shows what you pay, the tranche shares you receive, and the **Waiting period** before you can execute the request.
Choose **Confirm in wallet**, then sign each step in your wallet as it comes up. When you pay in USDC, there are up to four:
1. An approval for the USDC.
2. The deposit into the Bedrock vault, which mints Bedrock shares.
3. An approval for Royco to take those shares.
4. The request to Royco, which starts the waiting period.
When you pay with Bedrock shares, only the last two apply. An approval is skipped when an earlier one already covers the amount. When the request confirms, the panel shows **Senior deposit requested** or **Junior deposit requested**.
**3. Execute after the wait**
When the waiting period ends, choose **Execute** next to the request under **Your position** to receive your Senior or Junior shares. Until you execute it, **Cancel** gets your shares back.
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