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Boost — Splitter + Yield-Market

Boost is yield tokenization. The Splitter takes 1 SY (auto-earning) and breaks it into:

  • 1 PT (Principal Token) — redeemable for 1 unit of the underlying at maturity. No yield accrued on its own.
  • 1 YT (Yield Token) — claims the streaming yield until maturity, then dies.

PT + YT = SY is the conservation law. The user buys "fixed rate" exposure by selling YT into the Yield-Market AMM at boost time, locking the implied rate.

What happens when a user calls Router.boost(...)​

  1. Transfer underlying from user into Router.
  2. Auto-deposit into the SY adapter → Router now holds SY.
  3. Split the SY → Router now holds PT + YT.
  4. Sell YT into the Yield-Market AMM. The AMM pays the user back SY in exchange.
  5. Hold PT on behalf of the user. The user's position = (PT balance, maturity).

The user's effective rate is fixed at the price the AMM gave for the YT — which is the implied yield to maturity baked into the AMM curve at the moment of the trade.

Maturity​

At maturity, redeem_boost(user, asset, pt_amount):

  1. Burns the PT.
  2. Redeems the equivalent SY from the Splitter (Splitter's invariant: at maturity, 1 PT == 1 SY).
  3. Calls auto_withdraw if the user wanted underlying, OR returns SY so the position seamlessly resumes auto-earn.

No dead period. No manual re-deposit. The user just sees their balance back in auto-earn.

Unboost (early exit)​

unboost(user, asset, pt_amount):

  1. Sells PT into the Yield-Market AMM.
  2. Receives SY back.
  3. Returns SY to the user (still auto-earning).

The price the AMM gives may be worse than the locked rate — that's the cost of early exit. The mobile UI explains this in plain English before submit.

Auth pre-declarations​

Like auto_deposit, the Router calls env.authorize_as_current_contract to pre-declare nested sub-invocations (SY transfer, splitter mint, AMM swap). All the user signs is the outer boost envelope.

Markets​

AssetYield-Market contractSplitter
USDCCBTVKJUEU42FVIWGVW5HCTQKLGFVAPZE72BGBOWLP2RNFJE6YO5PLSELCC54AH2NOPVUTE3QZ3GRHVIRXTMZNFHDLMCKZ4ZIOFD26V2QP3Q6BREV
EURCCBD67GLBWKQBBZMKC7BOK4Z53AAZWBSCQYC2H467RS4DDEGULMZV362YCAIPTYVRCB2HCG7QJ675FXN5E6ZL452AKQ3HJLVGGEBFA4JOECDSEPXC
XLM— (XLM doesn't have a fixed-rate market today)—