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All three vaults are going to be auto-compounded and will appreciate in real time.
Vault Stakers will receive gmdTOKENS representing their positions in the vault. For your stake positions for USDC, ETH, and BTC respectively, you will receive gmdUSDC, gmdETH, and gmdBTC as receipt tokens representing your original positions.
GMD tokens appreciate in value at their APY rate (similar to the mechanism of aUST)
As an example, if you exchange 100 USDC for 100 gmdUSDC, in a year time, your 100 gmdUSDC will be worth 120 USDC if you are to unstake.
Through gmdUSDC-USDC, gmdETH-ETH, gmdBTC-BTC Uniswap V3 liquidity, these tokens can then be used to form Uniswap V3 liquidity to allow for instant entering the vaults in the case the vaults are completely filled.
GMD Protocol encourages our stakers to do this to earn extra trading fees from Uniswap with minimal to 0 impermanent loss.