Skip to main content
Once you hold vault shares, the split-engine can wrap them into PT (principal, 1:1 redeemable at maturity) and YT (yield, all future accrual). Both are plain SPL tokens.

1. Find the market

2. Deposit shares

After it lands you hold 1,000 PT + 1,000 YT.

3. Claim yield

Each time someone cranks update_rewards, your YT’s share of accumulated yield grows. Claim with:
Yield arrives as vault shares (not USDC directly).

4. Redeem PT at maturity

After clock.unix_timestamp ≥ market.maturity:
PT burns 1:1 for vault shares, regardless of how funding performed.

5. Early exit (before maturity)

Only works if you hold matched PT + YT pairs:
Fee is 30 bps of the exit amount.