Tomorrow’s yield,locked today.

Fixed income on Stellar. Deposit USDC and you get a quote for an exact payout on an exact date, backed by real lending yield. The vault handles the mechanics — you never have to touch them.

No. Every figure here is an illustrative example, and marked as one where it appears. Spield runs on Stellar testnet; real quotes come from the app, read from the contracts when you ask for them.

Blend, a native Stellar lending market. It is interest borrowers actually pay, arriving on-chain as a rising rate. No invented index, no emissions, no bridged assets.

The two halves of a split deposit. PT redeems 1:1 at maturity, so buying it below par is how a fixed rate gets locked. YT collects all the yield until maturity, then is worth nothing. Together they always equal the deposit they came from.

Install Freighter, add the USDC trustline, then fund it — buy through a Stellar on-ramp, or bring USDC across from another chain. On testnet you skip that and fund the account free from Friendbot.

No minimum beyond the network fee, which is a fraction of a cent. The maximum is whatever capacity the series has left: the vault declines a size it cannot already cover rather than promising it.

Yes — nothing is locked up, and you can sell at the market price any time. But the rate is only fixed if you hold: sell early and you get whatever rates say the position is worth that day.

Yes. Held to maturity, PT pays back principal plus the return locked at purchase; sold early it moves with rates. YT decays toward zero if realized yield comes in under the priced rate — it can go to zero, but never be margin-called, since there is no leverage in the design. On top of that sits contract risk, in Spield and in Blend beneath it.

Not in the protocol — Spield is Stellar-native end to end. Bringing USDC over from another chain uses a third-party bridge and carries that bridge's risk, but nothing afterwards depends on it.

The series settles: PT redeems 1:1 for USDC, YT stops accruing and is worth zero. Redemption stays open afterwards, so nothing is force-closed and nothing expires out from under you.

A 0.30% swap fee on market trades, which pays the liquidity on the other side. Stellar's network fees are fractions of a cent. A vault deposit is quoted as a payout, so anything the protocol takes is already inside the number you see.

Far less than in a volatile pair, because both sides of the pool converge: PT climbs toward par as maturity approaches while USDC sits still, so the divergence the loss is named for closes on its own. Hold to maturity and what is left is mostly the swap fees. Exit early and it is real — you may be holding more PT than you started with, picked up as the rate moved.

It runs on Stellar testnet, not mainnet, and it has not been audited. Every contract is verifiable on-chain. Treat it as what it is — unaudited software worth exploring, not somewhere to put money you cannot afford to lose.