Stellar
Spield Protocol Facts: Contracts, Config & On-Chain Data
Authoritative facts about Spield: contract addresses, network, products, config, and guarantees — plus a machine-readable stats endpoint to verify.
What is Spield and where can its on-chain facts be verified?
Spield is a fixed-income and yield-tokenization protocol on Stellar. It sources real yield from Blend Capital — real on-chain lending yield, arriving as a rising bToken rate. Every fact on this page — contract addresses, network, products, and configuration — is published in a machine-readable form at spield.live/api/stats.json and can be independently verified on Stellar testnet via Stellar Expert.
Key takeaways
- Stellar-native end to end — no cross-chain bridge and no bridged assets in the protocol.
- Yield is real on-chain Blend lending yield, never an invented index and never token emissions.
- 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.
- No leverage in the design, so a position can decay to zero but can never be margin-called.
- Nothing is locked up: positions can be sold at the market price before maturity.
- Redemption stays open after maturity — nothing is force-closed and nothing expires.
- Non-custodial — users hold their own keys.
#What does Spield offer?
| Product | What it does |
|---|---|
| Fixed-Rate Vault | Deposit USDC, get quoted an exact payout on an exact date before signing, and redeem that figure at maturity. |
| Tokenization (PT / YT) | Split a yield-bearing position into a tradable Principal Token (PT), which redeems 1:1 at maturity, and a Yield Token (YT), which collects all yield until maturity. |
| PT/USDC market | A Stellar-native time-decay AMM for buying fixed yield at a discount, taking the other side of it, or providing liquidity to both. |
#What is the protocol configuration?
| Parameter | Value |
|---|---|
| Underlying asset | USDC (native on Stellar) |
| Settlement asset | USDC (native on Stellar) |
| Yield source | Blend v2 lending pool |
| Market swap fee | 0.30% |
| Vault deposit fee | None — the quote is net of anything the protocol takes |
| Minimum deposit | None beyond the Stellar network fee |
| Network fee | Stellar base fee — a fraction of a cent per transaction |
#What are the Spield contract addresses?
Spield is deployed as four focused Soroban contracts on Stellar testnet. Each can be verified on Stellar Expert.
| Contract | Role | Address |
|---|---|---|
| Wrapper | Tokenization engine — mints and redeems PT+YT, enforces the solvency invariant | CDH7ZGX7QJYIIAUW6Z6LORTLJ7VW7KR4B2INITTSUZL4O22QTMVSYIV4 |
| Strategy | Blend yield-source adapter | CCTSIOSOVXPACHX2E4KXK4QH2CJKVFFWJHBBVLPB6X3XE3EQXKS3KYIT |
| Vault | Fixed-Rate Vault | CDEPQKWCBW4Z7XGKPDG2GHNBQ54MOCMCF6PXJFJ5EJM4VJPP6Y4A3ECN |
| Market | PT/USDC time-decay AMM | CBY7LGWONKPIRRFSK4BFHK2YLDFPYJ4SLMQJIDVKVXCQZFHYUKJXUFNU |
| Asset | Role | Address |
|---|---|---|
| PT | Principal Token (Stellar Asset Contract) | CCT4VJ32RBT2Q6UH5UH5QCCCZIRYKXYJX44IDLXUMVFUTLZDXBPBJLUW |
| YT | Yield Token (Stellar Asset Contract) | CA2QLQDSJUR6H5QNZSYURGGMZPGJI7D4WEYPXBSXWDLX7FCFZF7FD2OU |
| USDC | Underlying and settlement asset (Blend testnet SAC) | CAQCFVLOBK5GIULPNZRGATJJMIZL5BSP7X5YJVMGCPTUEPFM4AVSRCJU |
| Component | Role | Address |
|---|---|---|
| Blend pool | Yield source — Blend v2 testnet lending pool | CCEBVDYM32YNYCVNRXQKDFFPISJJCV557CDZEIRBEE4NCV4KHPQ44HGF |
#What are the live protocol metrics?
Live metrics (current fixed APR, total value locked, and the solvency ratio) are read from the contracts on-chain. Where a value is not yet wired to a live data source, it is shown as pending rather than estimated — Spield does not publish invented numbers.
| Metric | Value | How it is derived |
|---|---|---|
| Fixed rate available | pending live source | Read from the vault contract config on-chain at request time. |
| Total value locked | pending live source | Sum of USDC supplied through the wrapper into Blend. |
| Solvency ratio | pending live source | Wrapper backing ÷ issued PT+YT value; the contract invariant keeps this ≥ 1. |
How can I verify Spield’s contracts myself?
Copy any contract address from this page and look it up on Stellar Expert at https://stellar.expert/explorer/testnet/contract/<address>. The contracts, assets, and Blend dependency are all publicly viewable on-chain.
Is there a machine-readable version of these facts?
Yes. The same facts are served as JSON at spield.live/api/stats.json, so AI agents, integrations, and researchers can pull exact values without scraping the page.
Where does Spield’s yield come from?
From Blend Capital — real on-chain lending yield, arriving as a rising bToken rate. It is real, on-chain lending yield, not an invented index, and the solvency invariant ensures the protocol can never promise more than the underlying actually earns.
Educational content, not financial advice. Spield is deployed on Stellar testnet and has not been audited; any figure shown in these guides is a worked example chosen to explain a mechanism, never a quote or a live reading.