Question 1

What is NivoraFi?

Accepted Answer

NivoraFi is a non-custodial fixed-yield and yield tokenization AMM protocol built natively in Soroban Rust on Stellar. It splits yield-bearing assets such as Blend bUSDC and XLM into Principal Tokens (PT) and Yield Tokens (YT).

Question 2

How do Principal Tokens (PT) and Yield Tokens (YT) work on Stellar?

Accepted Answer

Depositing a yield-bearing asset mints 1 PT and 1 YT per Standardized Yield (SY) unit. PT trades at a discount before maturity and redeems 1:1 for SY at maturity to lock in a fixed APY, while YT captures all variable lending yield until maturity.

Question 3

How does NivoraFi trade YT without splitting pool liquidity?

Accepted Answer

NivoraFi routes all PT and YT trades through one unified PT/SY time-decaying log-normal AMM pool using 2-step Picard iteration flash swaps, preserving deep liquidity.

Question 4

What happens when a NivoraFi market reaches maturity?

Accepted Answer

At maturity, PT is redeemable 1:1 for underlying SY, YT stops accruing new yield while accrued rewards remain claimable, and users can execute a 1-click atomic rollover into a new maturity pool.

Pendle bUSDC PT 90D

Trade Fixed Yield