Every yield-bearing asset splits into a principal token and a yield token. Lock in fixed income, or lever up on rates — your size stays private the whole way.
No public order size. No one front-running your alpha.
Yield-bearing assets bundle two trades into one. Most protocols make you hold both, whether you like it or not. Not here.
Drop in a yield-bearing asset — staked ETH, a tokenized bill, a vault share. Anything that earns.
It mints two tokens on the spot: a principal token and a yield token. Same asset, two very different trades.
Hold principal to par for fixed income. Or run the yield token and lever up on where rates are headed.
Pick an asset. Drag the maturity. Watch the principal and yield tokens reprice in real time.
Every open maturity feeds one fixed-rate curve. Principal tokens finally price off something real — not off nothing, not off vibes.
Yield token markets are thin. Flash a six-figure position and the whole market trades against you before you're done. Here, size stays private until the trade is closed.
Illustrative previews — first live markets confirmed at launch.
Waitlist is open. Early access rolls out in waves — first in line gets first split.