{
  "$schema": "https://www.spield.live/api/stats.schema.json",
  "protocol": "Spield",
  "description": "Fixed-income & yield-tokenization protocol on Stellar",
  "network": "testnet",
  "networkLabel": "Stellar testnet (Soroban)",
  "yieldSource": "Blend Capital (real on-chain lending yield via the rising bToken rate)",
  "guarantees": [
    "Stellar-native only — no cross-chain bridge and no bridged assets.",
    "Yield is real on-chain Blend lending yield, never an invented index.",
    "A solvency invariant is enforced in the contracts: issued value can never exceed real backing.",
    "Principal Tokens (PT) redeem 1:1 for the underlying at maturity.",
    "Non-custodial — users hold their own keys."
  ],
  "products": [
    {
      "name": "Fixed-Rate Vault",
      "description": "Deposit USDC and lock a guaranteed fixed rate; redeem principal + coupon at maturity."
    },
    {
      "name": "Wrapper (Tokenize)",
      "description": "Split a yield-bearing position into a tradable Principal Token (PT) and Yield Token (YT)."
    },
    {
      "name": "PT/USDC Market",
      "description": "A Pendle-style time-decay AMM to buy fixed yield at a discount or provide liquidity."
    }
  ],
  "config": {
    "Underlying asset": "USDC (native on Stellar)",
    "Yield source": "Blend v2 lending pool",
    "Vault fixed APR (testnet config)": "5%",
    "Vault ceiling (testnet config)": "20%",
    "Market swap fee": "0.30%"
  },
  "contracts": [
    {
      "name": "Wrapper",
      "role": "Tokenization engine (mint/redeem PT+YT, solvency invariant)",
      "address": "CDH7ZGX7QJYIIAUW6Z6LORTLJ7VW7KR4B2INITTSUZL4O22QTMVSYIV4"
    },
    {
      "name": "Strategy",
      "role": "Blend yield-source adapter",
      "address": "CCTSIOSOVXPACHX2E4KXK4QH2CJKVFFWJHBBVLPB6X3XE3EQXKS3KYIT"
    },
    {
      "name": "Vault",
      "role": "Fixed-Rate Vault",
      "address": "CDEPQKWCBW4Z7XGKPDG2GHNBQ54MOCMCF6PXJFJ5EJM4VJPP6Y4A3ECN"
    },
    {
      "name": "Market",
      "role": "PT/USDC time-decay AMM",
      "address": "CBY7LGWONKPIRRFSK4BFHK2YLDFPYJ4SLMQJIDVKVXCQZFHYUKJXUFNU"
    }
  ],
  "assets": [
    {
      "name": "PT",
      "role": "Principal Token (SAC)",
      "address": "CCT4VJ32RBT2Q6UH5UH5QCCCZIRYKXYJX44IDLXUMVFUTLZDXBPBJLUW"
    },
    {
      "name": "YT",
      "role": "Yield Token (SAC)",
      "address": "CA2QLQDSJUR6H5QNZSYURGGMZPGJI7D4WEYPXBSXWDLX7FCFZF7FD2OU"
    },
    {
      "name": "USDC",
      "role": "Underlying settlement asset (Blend testnet SAC)",
      "address": "CAQCFVLOBK5GIULPNZRGATJJMIZL5BSP7X5YJVMGCPTUEPFM4AVSRCJU"
    }
  ],
  "dependencies": [
    {
      "name": "Blend pool",
      "role": "Yield source (Blend v2 testnet lending pool)",
      "address": "CCEBVDYM32YNYCVNRXQKDFFPISJJCV557CDZEIRBEE4NCV4KHPQ44HGF"
    }
  ],
  "explorer": "https://stellar.expert/explorer/testnet",
  "live": {
    "Fixed APR available": {
      "value": null,
      "unit": "%",
      "method": "Read from the vault contract config on-chain."
    },
    "Total value locked": {
      "value": null,
      "unit": "USDC",
      "method": "Sum of USDC supplied through the wrapper into Blend."
    },
    "Solvency ratio": {
      "value": null,
      "unit": "ratio",
      "method": "wrapper backing ÷ issued PT+YT value; the invariant keeps this ≥ 1."
    }
  },
  "liveDataAvailable": false,
  "factsUpdated": "2026-07-06",
  "docs": "https://www.spield.live/learn"
}