what's PT-USX?

PT-USX is a Principal Token issued on the Solana blockchain through Kamino Finance, representing the principal component of the yield-bearing Solstice USX (USX) stablecoin asset. It enables users to secure fixed yields by separating the principal repayment from variable yield accrual, functioning like a zero-coupon bond in DeFi. Users deposit USX into Kamino to mint PT-USX and corresponding Yield Tokens (YT-USX). PT-USX can be traded, used as collateral, or held to maturity for principal redemption plus fixed return, while YT-USX captures any excess or variable yields. This structure, powered by Kamino's oracle for pricing, facilitates strategies like fixed-rate locking and liquidity provision on platforms such as Exponent Finance.

PT-USX offers 11.52% fixed yield and 9.55% borrowing with 5x leverage on Kamino.