Yield stripping for tokenized equities
Separate a stock's principal from its dividends.
StripFi splits a tokenized stock into two tradable tokens — PT for principal returned at maturity, YT for every dividend until then. Lock in a fixed yield, or take amplified exposure to the payout.
One position, two ways to trade it
Stripping is value-neutral: PT + YT always recombine into the full position. That invariant is what the whole protocol protects.
Principal Token
Buy principal at a discount and redeem it for full value at maturity. The discount you pay is your fixed, known yield — no exposure to dividend swings.
- Fixed, predictable return
- Redeems 1:1 for underlying value at maturity
- Trades below par; the gap is the market's implied APY
Yield Token
Collect every dividend until maturity for a fraction of the capital. Concentrated, leveraged exposure to the payout stream — expires worthless at maturity.
- Amplified dividend upside
- A fraction of the cost of holding the stock
- Accrues in real time, claimable any moment
How it works
Deposit
Wrap a tokenized stock into SY — a 1:1 receipt that cleanly measures dividend growth without splits polluting the number.
Strip
Split SY into equal amounts of PT and YT. Recombine them at any time before maturity to rebuild the full position.
Trade
Buy or sell PT and YT on the built-in time-decay AMM. The pool prices the implied yield directly — Pendle-style, on-chain.
Built for a real, on-chain yield
Classify-before-accrue
A stock split moves the same multiplier as a dividend. StripFi freezes yield until governance classifies the action — so a split can never be paid out as principal.
Always recombinable
PT + YT reconstruct the original position to the wei. The telescoping interest math holds across transfers, staggered entry, and partial exits.
Time-decay AMM
PT converges to par as maturity nears without arbitrage bleeding LPs. The pool prices the rate, not just the token — time itself is never a free trade.
Timelocked governance
Classifications, fees and index changes wait out a public timelock delay. A separate guardian can pause instantly; exits and redemptions are never gated.
Live on mainnet
SY-NVDA market is open.
Trade fixed yield and dividend exposure on tokenized NVIDIA, today.