# Distribute yield \[Turn any yield source into your product: your receipt token, your fees, your rules]

A Conduit turns any yield source into your product. Pick a source from the [catalog](/yield-sources), then deploy a Conduit on the Vehicle that wraps it. You get a branded ERC20 receipt token, your own fees, your own compliance rules, and your own reward routing. Your users deposit, earn and withdraw; they never see the protocol underneath.

The default path is one Vehicle, one Conduit, with nothing to operate day to day: keepers settle asynchronous deposits and withdrawals in the background, so request queues and cooldowns never cost your users a second transaction. The Conduit is a separate contract from the yield source, so you can run several on the same Vehicle — a standard plan and a premium tier, same liquidity.

## What you configure

| Control | What it means |
|---------|--------------|
| **Fee structure** | Management, performance, deposit, and redeem fees, with immutable caps |
| **Revenue distribution** | Split collected fees among any set of recipients |
| **Compliance** | Allow-lists, block-lists, and sanctions screening via AccountList |
| **Transfer policy** | Permissionless, restricted to approved accounts, or mint-and-burn only |
| **Receipt token** | Your own ERC20 share token, your name and symbol |
| **Rewards** | Route protocol incentives to users or treasury, and run your own programs — see [Rewards](/conduits/rewards) |

No front end yet? The [Railnet widget](/conduits/widget) puts your Conduits in front of users in your brand.

## When one source is not enough

A MultiVehicle holds several Vehicles behind one token, and your Conduit wraps that instead; everything above is unchanged. See [Compose several yield sources](/strategies/allocation/create), then [Guardrails](/strategies/allocation/guardrails) to hand allocation to a manager inside enforced limits.

## Next steps

<Cards>
  <Card title="Quick start" description="Deploy your first Conduit." icon="rocket" to="/conduits/quick-start" />

  <Card title="Integrate a Conduit" description="Balances, deposits and withdrawals, against the Base test Conduit." icon="code" to="/developers/integrate-conduit" />

  <Card title="Configure fees" description="Set your fee structure and recipient splits." icon="percent" to="/conduits/configure-fees" />
</Cards>