Principal Token
Holds the right to recover the vault's principal at maturity. Redeems to min(1, NAV_T).
USELOCK A FIXED RATE
PAYOFF1 PER PT WHEN NAV ≥ 1
RISKPRINCIPAL HAIRCUT IF NAV < 1
FIXED YIELDLIBERATED
Strip the yield.Keep the principal.Trade the future.
TVL—
SERIES LIVE—
XRPL NATIVE
PRIMITIVES
Yield Token
Holds the right to the yield accrued above par at maturity. Redeems to max(0, NAV_T − 1).
USESPECULATE ON YIELD
PAYOFFUPSIDE BEYOND PAR
RISKZERO IF NAV ≤ 1
HOW IT WORKS
STEP 01
Lock a vault share
Deposit a single XLS-65 share into the Wift wrapper — a 3-of-5 multisig pseudo-account.
STEP 02
Receive PT + YT
The wrapper mints one Principal Token and one Yield Token per share. Atomic via Batch.
STEP 03
Trade or hold
Sell one leg on the native XRPL DEX order book to lock a rate, or hold both and recover the share at maturity.
INVARIANT
shares_locked == PT_supply == YT_supplyEnforced at the ledger level by a 3-of-5 multisig of independent relayers that refuse to sign any operation that would break the count. No hidden mint. No inflation. The invariant is the product.
XRPL NATIVE·3-OF-5 MULTISIG·NON-CUSTODIAL REDEEM