what's Illuminate?

Illuminate is a DeFi protocol that aggregates fixed-yield lending rates from leading protocols across Ethereum and Layer-2 ecosystems. It optimizes routing for institutions and applications to capture maximal fixed APY by wrapping principal tokens (PTs) with similar maturities and assets into standardized meta principal tokens (iPTs). These iPTs trade on a secondary YieldSpace automated market maker (AMM), enabling deep liquidity, best rates for lenders, and seamless integration for DeFi composability. The protocol addresses fixed-rate lending challenges like fragmented liquidity and poor UX by providing a single interface for fixed yields, guaranteeing atomic maturity settlements, and supporting scalable applications from lending to options and futures. It decomposes interest-bearing deposits into principal and yield components, fostering efficiency in overcollateralized fixed-yield markets.

Illuminate launched as the first fixed-rate aggregator in the DeFi market.