Liquidity provision

Liquidity providers (LPs) supply assets to the market so others can trade, and earn a share of the swap fees in return. Spield's time-decay design makes LPing unusually attractive: hold to maturity and you face near-zero impermanent loss.

What you provide

You supply a balanced amount of PT + USDC to the market. In return you receive LP shares representing your proportional claim on the pool. Your shares earn a cut of every swap fee, growing your claim over time.

The impermanent-loss advantage

On a normal AMM, providing liquidity to an asset that's steadily appreciating (like PT rising to par) guarantees impermanent loss — you'd systematically sell the appreciating asset too cheaply.

Spield's market is built around PT's predictable path to par, so the curve anticipates that move instead of fighting it. The result:

This is "near-zero," not "zero": short-term price moves from unexpected yield changes still cause some divergence if you exit early. The benefit is strongest for LPs who stay to maturity.

Adding liquidity

Removing liquidity

You can remove liquidity at any time — including after maturity — and there's no lock-up. Use the percentage slider to withdraw part or all of your position; you receive your proportional PT and USDC back, plus the fees your shares accrued.

Things to keep in mind

• You need PT to provide liquidity. Get it by minting PT + YT or buying PT on the market.
• Fees vary with volume. Your return depends on how much trading flows through the pool.
• Balanced deposits. Adding at the pool's current ratio keeps things fair for everyone and avoids price impact.

Related

• Walkthrough: Provide liquidity
• The venue you're providing to: The yield market