diff --git a/apps/web/src/components/DepositPanel.tsx b/apps/web/src/components/DepositPanel.tsx
index a72121e..c0da62a 100644
--- a/apps/web/src/components/DepositPanel.tsx
+++ b/apps/web/src/components/DepositPanel.tsx
@@ -17,7 +17,7 @@ import {
   MIN_DEPOSIT_USD,
   MIN_DEPOSIT_UNITS,
 } from "@/lib/contracts";
-import { useSimVault, simFaucet, simApprove, simDeposit } from "@/lib/simVault";
+import { useSimVault, simApprove, simDeposit } from "@/lib/simVault";
 import { slippageImpact } from "@/lib/math";
 import { fmtPct, fmtUsd } from "@/lib/format";
 import { Button } from "@/components/ui/button";
@@ -113,11 +113,10 @@ export function DepositPanel({
   });
 
   const stockInputNum = Number(stockInput) || 0;
-  // No live vault: the funded demo wallet stands in, and the stock leg is
-  // valued off the live Dexscreener price instead of the on-chain feed.
-  const balance = HAS_LIVE_VAULT
-    ? ((walletData?.[0]?.result as bigint | undefined) ?? 0n)
-    : parseUnits((isConnected ? sim.balanceUsd : 0).toFixed(USD_DECIMALS), USD_DECIMALS);
+  // No live vault: a funded mainnet wallet is assumed (no faucet, no balance
+  // gate); the stock leg is valued off the live Dexscreener price, and only
+  // the vault allowance is tracked so approve -> deposit stays real.
+  const balance = (walletData?.[0]?.result as bigint | undefined) ?? 0n;
   const allowance = HAS_LIVE_VAULT
     ? ((walletData?.[1]?.result as bigint | undefined) ?? 0n)
     : parseUnits((isConnected ? sim.allowanceUsd : 0).toFixed(USD_DECIMALS), USD_DECIMALS);
@@ -154,7 +153,7 @@ export function DepositPanel({
   const creditUnits = dual ? amount + stockCreditUnits : amount;
   const belowMin = creditUnits > 0n && creditUnits < MIN_DEPOSIT_UNITS;
 
-  const needsUsdFaucet = amount > 0n && balance < amount;
+  const needsUsdFaucet = HAS_LIVE_VAULT && amount > 0n && balance < amount;
   const needsUsdApprove = !needsUsdFaucet && amount > 0n && allowance < amount;
   // stock leg faucet/approve only apply on-chain; sim values it directly
   const needsStockFaucet = HAS_LIVE_VAULT && dual && stockAmount > 0n && stockBalance < stockAmount;
@@ -171,10 +170,8 @@ export function DepositPanel({
   const runSim = async () => {
     setSimBusy(true);
     try {
-      if (needsUsdFaucet) {
-        await simFaucet();
-      } else if (needsUsdApprove) {
-        await simApprove(Number(input) || 0);
+      if (needsUsdApprove) {
+        await simApprove();
       } else {
         await simDeposit(campaign.meta.campaignId, depositUsd, campaign.status === "boost");
         setInput("");
@@ -284,13 +281,15 @@ export function DepositPanel({
         <div className="ticks rounded-none border border-edge bg-surface p-4">
           <div className="flex items-center justify-between text-[11px] uppercase tracking-wider text-fog-dim">
             <span>Stock leg</span>
-            <button
-              type="button"
-              className="num cursor-pointer text-fog transition-colors hover:text-mint"
-              onClick={() => setStockInput((Number(stockBalance) / 1e18).toString())}
-            >
-              Balance {(Number(stockBalance) / 1e18).toFixed(4)}
-            </button>
+            {HAS_LIVE_VAULT && (
+              <button
+                type="button"
+                className="num cursor-pointer text-fog transition-colors hover:text-mint"
+                onClick={() => setStockInput((Number(stockBalance) / 1e18).toString())}
+              >
+                Balance {(Number(stockBalance) / 1e18).toFixed(4)}
+              </button>
+            )}
           </div>
           <div className="mt-2 flex items-center gap-3">
             <input
@@ -313,13 +312,15 @@ export function DepositPanel({
       <div className="ticks rounded-none border border-edge bg-surface p-4">
         <div className="flex items-center justify-between text-[11px] uppercase tracking-wider text-fog-dim">
           <span>{dual ? "Stable leg" : "You deposit"}</span>
-          <button
-            type="button"
-            className="num cursor-pointer text-fog transition-colors hover:text-mint"
-            onClick={() => setInput((Number(balance) / 10 ** USD_DECIMALS).toString())}
-          >
-            Balance {fmtUsd(Number(balance) / 10 ** USD_DECIMALS)}
-          </button>
+          {HAS_LIVE_VAULT && (
+            <button
+              type="button"
+              className="num cursor-pointer text-fog transition-colors hover:text-mint"
+              onClick={() => setInput((Number(balance) / 10 ** USD_DECIMALS).toString())}
+            >
+              Balance {fmtUsd(Number(balance) / 10 ** USD_DECIMALS)}
+            </button>
+          )}
         </div>
         <div className="mt-2 flex items-center gap-3">
           <input
diff --git a/apps/web/src/lib/simVault.ts b/apps/web/src/lib/simVault.ts
index f3eb26a..59292c1 100644
--- a/apps/web/src/lib/simVault.ts
+++ b/apps/web/src/lib/simVault.ts
@@ -2,11 +2,11 @@ import { useSyncExternalStore } from "react";
 
 /**
  * Client-side vault used when no on-chain vault is reachable (the showcase
- * build). It mirrors the shape and timing of the real faucet -> approve ->
- * deposit -> claim/withdraw flow so the app behaves exactly like the live
- * version: balances move, positions appear in the portfolio, campaign depth
- * grows and rewards accrue over time. No funds move; this is presentation
- * state only.
+ * build). It mirrors the shape and timing of the real approve -> deposit ->
+ * claim/withdraw flow so the app behaves exactly like the live version:
+ * positions appear in the portfolio, campaign depth grows and rewards accrue
+ * over time. There is no wallet balance or faucet — you approve once, then
+ * deposit, exactly like a funded mainnet wallet. No funds move.
  */
 
 export interface SimPosition {
@@ -19,25 +19,22 @@ export interface SimPosition {
 }
 
 interface SimState {
-  balanceUsd: number;
   allowanceUsd: number;
   positions: Record<number, SimPosition>;
 }
 
-/** A funded demo wallet, so the flow starts at approve -> deposit. */
-const START_BALANCE_USD = 25_000;
-/** Matches MockERC20's faucet drip, in case a deposit outruns the balance. */
-const FAUCET_USD = 10_000;
+/** A single approve covers any later deposit, like an infinite allowance. */
+const APPROVE_MAX = 1e15;
 /** Block-confirmation feel for each action. */
 const CONFIRM_MS = 1_100;
 /** Reward accrual tuned to the campaign APRs the UI advertises (~5,000%). */
 const DEMO_APR = 50;
 const SECONDS_PER_YEAR = 31_536_000;
 const TICK_MS = 2_000;
-const STORAGE_KEY = "hq-vault-state-v1";
+const STORAGE_KEY = "hq-vault-state-v2";
 
 function initial(): SimState {
-  return { balanceUsd: START_BALANCE_USD, allowanceUsd: 0, positions: {} };
+  return { allowanceUsd: 0, positions: {} };
 }
 
 function load(): SimState {
@@ -93,14 +90,9 @@ function ensureAccrual() {
 
 // ------------------------------------------------------------------- actions
 
-export async function simFaucet() {
+export async function simApprove() {
   await wait(CONFIRM_MS);
-  set({ ...state, balanceUsd: state.balanceUsd + FAUCET_USD });
-}
-
-export async function simApprove(amountUsd: number) {
-  await wait(CONFIRM_MS);
-  set({ ...state, allowanceUsd: amountUsd });
+  set({ ...state, allowanceUsd: APPROVE_MAX });
 }
 
 export async function simDeposit(campaignId: number, amountUsd: number, boosted: boolean) {
@@ -119,7 +111,6 @@ export async function simDeposit(campaignId: number, amountUsd: number, boosted:
     : { amountUsd, weightedUsd: weight, claimedUsd: 0, pendingUsd: 0, depositedAt: now, boosted };
   set({
     ...state,
-    balanceUsd: Math.max(0, state.balanceUsd - amountUsd),
     allowanceUsd: Math.max(0, state.allowanceUsd - amountUsd),
     positions: { ...state.positions, [campaignId]: pos },
   });
@@ -127,12 +118,10 @@ export async function simDeposit(campaignId: number, amountUsd: number, boosted:
 
 export async function simWithdraw(campaignId: number) {
   await wait(CONFIRM_MS);
-  const prev = state.positions[campaignId];
-  if (!prev) return;
+  if (!state.positions[campaignId]) return;
   const positions = { ...state.positions };
   delete positions[campaignId];
-  // principal returns in full; accrued (unclaimed) rewards are forfeited early
-  set({ ...state, balanceUsd: state.balanceUsd + prev.amountUsd, positions });
+  set({ ...state, positions });
 }
 
 export async function simClaim(campaignId: number) {
@@ -141,7 +130,6 @@ export async function simClaim(campaignId: number) {
   if (!prev || prev.pendingUsd <= 0) return;
   set({
     ...state,
-    balanceUsd: state.balanceUsd + prev.pendingUsd,
     positions: {
       ...state.positions,
       [campaignId]: { ...prev, claimedUsd: prev.claimedUsd + prev.pendingUsd, pendingUsd: 0 },
diff --git a/apps/web/src/screens/AppBoard.tsx b/apps/web/src/screens/AppBoard.tsx
index c301034..d89b9e3 100644
--- a/apps/web/src/screens/AppBoard.tsx
+++ b/apps/web/src/screens/AppBoard.tsx
@@ -19,14 +19,7 @@ import {
 } from "@/lib/contracts";
 import { useCampaigns, usePositions, type CampaignState } from "@/hooks/useCampaigns";
 import { useAllMarketData } from "@/hooks/useMarketData";
-import {
-  useSimVault,
-  simFaucet,
-  simApprove,
-  simDeposit,
-  simWithdraw,
-  simClaim,
-} from "@/lib/simVault";
+import { useSimVault, simApprove, simDeposit, simWithdraw, simClaim } from "@/lib/simVault";
 import { feeApr, rewardApr } from "@/lib/math";
 import { fmtUsd, fmtAprPct, fmtCountdown } from "@/lib/format";
 import { cn } from "@/lib/utils";
@@ -110,10 +103,9 @@ export default function AppBoard() {
     ],
     query: { enabled: HAS_LIVE_VAULT && !!address },
   });
-  // With no live vault, the funded demo wallet drives the same state machine.
-  const balance = HAS_LIVE_VAULT
-    ? ((walletData?.[0]?.result as bigint | undefined) ?? 0n)
-    : parseUnits((isConnected ? sim.balanceUsd : 0).toFixed(USD_DECIMALS), USD_DECIMALS);
+  // No live vault: a funded mainnet wallet is assumed (no faucet, no balance
+  // gate); only the vault allowance is tracked so approve -> deposit is real.
+  const balance = (walletData?.[0]?.result as bigint | undefined) ?? 0n;
   const allowance = HAS_LIVE_VAULT
     ? ((walletData?.[1]?.result as bigint | undefined) ?? 0n)
     : parseUnits((isConnected ? sim.allowanceUsd : 0).toFixed(USD_DECIMALS), USD_DECIMALS);
@@ -137,7 +129,7 @@ export default function AppBoard() {
 
   const busy = isPending || isConfirming || simBusy;
   const belowMin = amount > 0n && amount < MIN_DEPOSIT_UNITS;
-  const needsFaucet = amount > 0n && balance < amount;
+  const needsFaucet = HAS_LIVE_VAULT && amount > 0n && balance < amount;
   const needsApprove = !needsFaucet && amount > 0n && allowance < amount;
 
   const selPair = selected ? pairs?.[selected.meta.symbol] : undefined;
@@ -151,12 +143,9 @@ export default function AppBoard() {
     if (!selected) return;
     setSimBusy(true);
     try {
-      if (needsFaucet) {
-        await simFaucet();
-        say("hUSD minted to wallet");
-      } else if (needsApprove) {
-        await simApprove(amountUsd);
-        say(`approved ${fmtUsd(amountUsd)} hUSD`);
+      if (needsApprove) {
+        await simApprove();
+        say("hUSD spending approved");
       } else {
         const boosted = selected.status === "boost";
         setInput("");
@@ -243,6 +232,7 @@ export default function AppBoard() {
   const openPositions = positions.filter((p) => p.amountUsd > 0);
   const totalDeposited = openPositions.reduce((s, p) => s + p.amountUsd, 0);
   const totalPending = openPositions.reduce((s, p) => s + p.pendingUsd, 0);
+  const totalClaimed = openPositions.reduce((s, p) => s + p.claimedUsd, 0);
 
   const primaryLabel = !isConnected
     ? "Connect wallet"
@@ -456,12 +446,14 @@ export default function AppBoard() {
                   <div className="mt-5 space-y-2.5">
                     <div className="flex justify-between font-mono text-[10px] uppercase tracking-[0.08em]">
                       <span className="text-fog">Amount</span>
-                      <button
-                        className="num cursor-pointer text-fog-dim transition-colors hover:text-mint"
-                        onClick={() => setInput(balanceUsd > 0 ? String(balanceUsd) : "")}
-                      >
-                        Balance: {fmtUsd(balanceUsd)}
-                      </button>
+                      {HAS_LIVE_VAULT && (
+                        <button
+                          className="num cursor-pointer text-fog-dim transition-colors hover:text-mint"
+                          onClick={() => setInput(balanceUsd > 0 ? String(balanceUsd) : "")}
+                        >
+                          Balance: {fmtUsd(balanceUsd)}
+                        </button>
+                      )}
                     </div>
                     <div className="flex items-center gap-2 border border-edge-bright bg-surface py-1 pl-1 pr-3.5">
                       <input
@@ -483,12 +475,14 @@ export default function AppBoard() {
                           {v.toLocaleString("en-US")}
                         </button>
                       ))}
-                      <button
-                        onClick={() => setInput(balanceUsd > 0 ? String(balanceUsd) : "")}
-                        className="flex-1 cursor-pointer border border-edge bg-transparent py-1.5 font-mono text-[11px] text-fog transition-colors hover:border-mint hover:text-mint"
-                      >
-                        MAX
-                      </button>
+                      {HAS_LIVE_VAULT && (
+                        <button
+                          onClick={() => setInput(balanceUsd > 0 ? String(balanceUsd) : "")}
+                          className="flex-1 cursor-pointer border border-edge bg-transparent py-1.5 font-mono text-[11px] text-fog transition-colors hover:border-mint hover:text-mint"
+                        >
+                          MAX
+                        </button>
+                      )}
                     </div>
                     {isConnected && belowMin && (
                       <p className="num font-mono text-[10px] tracking-[0.04em] text-danger">
@@ -564,7 +558,11 @@ export default function AppBoard() {
               <Stat label="Total deposited" value={fmtUsd(totalDeposited)} accent />
               <Stat label="Claimable rewards" value={fmtUsd(totalPending)} />
               <Stat label="Open positions" value={String(openPositions.length)} />
-              <Stat label="Wallet balance" value={fmtUsd(balanceUsd)} />
+              {HAS_LIVE_VAULT ? (
+                <Stat label="Wallet balance" value={fmtUsd(balanceUsd)} />
+              ) : (
+                <Stat label="Rewards claimed" value={fmtUsd(totalClaimed)} />
+              )}
             </div>
 
             {openPositions.length > 0 ? (