Big picture: Permission-less Pendle finance built on top of Curve finance AMM.
Introducing Napier Finance v2, the Modular PT/YT - Permissionless, Scalable, Flexible and Modular.
PT/YT as a service provides curators with a flexible product design space.
It's a comprehensive tech kit for developers that handles any risk exposure without permissions or limits.
Risk experts and DeFi projects will issue and manage PT/YT themselves as curators.Those most familiar with each asset will contribute to it to earn additional revenue without diminishing the income associated with the asset.
Revenue sharing that scales curators (builders and contributors).
This will dramatically accelerate its development, bring high-quality products to market, and promote competition.
- Underlying Token/Target (YBT): Yield-bearing token that is deposited into the protocol to earn interest.
- Factory: A single main entry point for creating new instances of the protocol and managing the protocol's configuration.
- Principal Token (PT): ERC20 Token that represents the principal amount deposited into the protocol.
- Yield Token (YT): ERC20 Token that represents the interest earned on the principal amount deposited into the protocol.
- TwoCrypto: An AMM instance that manages the liquidity pool for a PT and its underlying pair.
- Zap: A single main entry point for users to deposit and withdraw funds from the protocol.
- Quoter: A single main entry point for dry-run transactions for Zap and other actions.
- Lens: A single main entry point for fetching read-only data from the protocol.
- Factory - PT: one-to-many relationship
- YBT - PT - YT - TwoCrypto: one-to-one relationship
- Zap - TwoCrypto: many-to-one relationship