Spield Protocol Facts: Contracts, Config & On-Chain Data
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 via the 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 (Soroban) via Stellar Expert.
Key takeaways
- 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.
What does Spield offer?
| Product | What it does |
|---|---|
| Fixed-Rate Vault | Deposit USDC and lock a guaranteed fixed rate; redeem principal + coupon at maturity. |
| Wrapper (Tokenize) | Split a yield-bearing position into a tradable Principal Token (PT) and Yield Token (YT). |
| PT/USDC Market | A Pendle-style time-decay AMM to buy fixed yield at a discount or provide liquidity. |
What is the protocol configuration?
| Parameter | Value |
|---|---|
| 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% |
What are the Spield contract addresses?
Spield is deployed as four focused Soroban contracts on Stellar testnet (Soroban). Each can be verified on Stellar Expert.
| Contract | Role | Address |
|---|---|---|
| Wrapper | Tokenization engine (mint/redeem PT+YT, 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 (SAC) | CCT4VJ32RBT2Q6UH5UH5QCCCZIRYKXYJX44IDLXUMVFUTLZDXBPBJLUW |
| YT | Yield Token (SAC) | CA2QLQDSJUR6H5QNZSYURGGMZPGJI7D4WEYPXBSXWDLX7FCFZF7FD2OU |
| USDC | Underlying 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 APR available | pending live source | Read from the vault contract config on-chain. |
| 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 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 via the 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.