Your first deposit
Make your first Spield deposit — the simplest path is the Fixed-Rate Vault, which gives you a guaranteed payout at maturity.
You're connected and funded — time to deposit. The simplest first experience is the Fixed-Rate Vault: deposit USDC, get a receipt for a guaranteed payout at maturity. You never touch PT or YT directly.
The easy path: the Fixed-Rate Vault
Open the Fixed Vault
In the Spield app sidebar, choose Fixed Vault.
Enter an amount
Type how much USDC you want to deposit. The app shows a live quote: your guaranteed payout at maturity (principal + coupon) and the fixed APY you're locking in.
Review and deposit
Check the quote, then click Deposit. Approve the transaction(s) in your wallet — the first deposit may include a one-time trustline approval.
Hold your receipt
You receive a receipt representing your guaranteed payout. Hold it until maturity, then redeem it for the full payout in USDC.
That's it — your return is locked
From this moment your payout is fixed. Market rates can move all they like; your receipt pays out the same amount at maturity regardless.
Prefer to hold the tokens directly?
If you want PT and YT in your own wallet (to trade, to provide liquidity, or to claim yield yourself), use the Deposit page instead. It mints equal amounts of PT (your fixed bond) and YT (the yield claim) straight to your wallet.
That's the more advanced path — see How It Works and the guides to decide what to do with each token.
What happens after you deposit?
| Product | What you hold | What you do later |
|---|---|---|
| Fixed-Rate Vault | A receipt for a fixed payout | Redeem the receipt at maturity for USDC. |
| Deposit (PT + YT) | PT and YT in your wallet | Hold PT to maturity, claim YT yield over time, or trade either on the market. |
Tracking your position
The app's Overview shows your balances and performance, and the Solvency page proves in real time that the protocol's backing covers everything it owes. You can watch your position grow there at any time.
Trustlines
What a Stellar trustline is, why PT and YT need one, and how Spield's one-click "Enable trustline" button sets them up for you automatically.
Protocol overview
A high-level walkthrough of how Spield works — from depositing USDC to holding tradable fixed and variable yield, all backed by a real on-chain position.