what's Spectra?
Spectra is an open-source, EVM-centric protocol designed for interest rate derivatives in DeFi. It enables users to create permissionless pools for yield-bearing assets, allowing them to trade yield separately from principal, fix interest rates, and earn returns by supplying liquidity. The protocol supports ERC-4626 compliant tokens, such as yield-bearing stablecoins, by splitting deposits into two components: Principal Tokens (PT) that provide fixed yields redeemable at maturity, and Yield Tokens (YT) that capture variable yield exposure for speculation or hedging. Users can hold PTs for predictable income, trade YTs to bet on rate movements, or provide liquidity in both for rewards without lockups or liquidations. Spectra's permissionless nature allows anyone to deploy custom pools, fostering integration with various ecosystems and assets. It emphasizes transparency and efficiency through smart contracts, sharing protocol revenue with stakers to incentivize governance and participation. The protocol operates across multiple chains, including Ethereum, Arbitrum, Avalanche, Base, and others, facilitating strategies like yield leverage and risk management in a decentralized manner.
Spectra integrates with Sei Network.
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Integrates with Sei Network as a deployment or collaboration.
Redirects veCRV fee share into vote incentives on the SPECTRA/OETH liquidity pool on Curve Finance in collaboration with Origin Protocol.
The APW to SPECTRA token bridge closes on December 15, 2025 (in 5 days).
sBOLD markets launch on Spectra Mainnet with Principal and Yield Tokens, sBOLD Pool, and rewards from the Liquity Protocol ecosystem.
Spectra launches on Flare Networks with sFLR pool from SceptreLS and its Principal & Yield Tokens now accessible on the platform.
Spectra partners with Firelight and Kinetic to offer lending and structured strategies in the XRPFi ecosystem as part of the live Ignition program.
Spectra expands to Monad network.
Re protocol integrates with Spectra Finance, enabling Re Points to become programmable onchain markets on Avalanche.
Active yield farming pools on Spectra include mevUSDC on Avalanche at 200%+ APY, lstRZR on Ethereum at 70-156% APY, and hbUSDT on HyperEVM at 10-12% APY.
Spectra appears on Upshift and AUSD roadmaps.
USDAI and sUSDAI soon available on Spectra Finance, Aerodrome, ExtraFi, and 0xfluid on Base chain.
USDAI liquidity seeded on Spectra Finance and Aerodrome Finance platforms.
The APW and veAPW migration bridge to SPECTRA closes on December 15, 2025, with sdAPW to sdSPECTRA conversion now live on Stake DAO at a 1:20 ratio.
Infinit Labs launches agentic strategies featuring Spectra Finance with yields of 32.03% for stablecoins and 14.43% for delta-neutral ETH on Katana. The strategies run across Spectra Finance, SushiSwap, and Hyperliquid, accessible to 40M+ Gate Wallet users and 280M+ Binance Wallet users.
The first wave of high YieldNest APYs starts tomorrow, with Spectra included among the markets to be affected in the coming weeks.
Over $100k from VaultBridge yield now boosts borrows and LPs on Spectra, Morpho, and Sushi, increasing APY for Katana DeFi users.
ynBNBx token goes live on the platform.
Yearn Finance's main product page now links directly to Spectra Pools on Katana, allowing Yearn Vault Token holders to earn swap fees and periodic reward injections from Katana's vaultbridge.
Bitcoin PT looping launches on Hemi network with over $500k liquidity available, enabled through SoleraLabs market curated by ClearstarLabs.
Vaultbridge yield boosting now includes Spectra LPs on Katana, adding $63,000 in additional yield over the past week with retroactive rewards from October 14th for USDC and WETH users.
Methamorphosis S3 launches as a collaboration between mETH Protocol and HyperEVM ecosystem, including Spectra alongside HyperSwapX, HypurrFi, and HyperBeat.
Integration with Flare Networks launches, enabling XRP fixed rate products and yield leverage opportunities.
LP and PT opportunities rank at the top of DefiLlama's Hyperliquid section. HyperBeat strategies capture volatility yield for these opportunities.
ynBNBx TVL reaches all-time high of $42M, and Curve approves ynRWAx/USDC gauge proposal for upcoming deployment.
$sdSPECTRA is integrated into Stake DAO's Liquid Lockers system, with $111K distributed this week to holders who receive voting power and yield optimization.
BNB yield trading opportunities are now available on the platform.
Integration with Katana trading platform launches in partnership with GSR, providing access to PT/YT trading and liquidity pools for AUSD and other assets.
Integration with Aegis enables YUSD stablecoin holders to split their tokens into YT/PT/LP positions for yield stacking and points farming opportunities.
Integration with OpenEden provides 2,250 daily EDEN token emissions for cUSDO holders on the platform.
Spectra receives 10-40x boost in Powder rewards through HyperEVM integration alongside other DeFi projects.
Noon Capital is in discussions to incorporate PT-assets into one of their $USN strategies.
Competitive analysis reveals underperformance in PT yields (vs 23.43% APY), YT leverage ratios, and liquidity depth (vs $41M) compared to main competitors.
Community bribes launch for smWETH pool on Base network
Weekly distribution of $116K in liquid locker tokens completed across multiple protocols, with voting rights preserved.
Protocol records $102M in 30-day trading volume
Liquidity pools set to expire in 7 days, significantly shorter than competing Pendle pools which have 70 days remaining.
New yield farming opportunity launches with 126x leverage for YT-sYUSD backed by $1M liquidity.
Protocol reaches $120M TVL with 74% of tokens ve-locked and $431K market cap, while expanding yield capabilities through Convex Finance integration.
Protocol reaches $20M TVL following 70% growth, becoming the leading HyperEVM trading venue with highest pool fees and volumes.
Aegis YUSD integration launches with competitive yield farming rates: 12.6% APY for PT-sYUSD and 84.4 YT for YT-sYUSD.
Platform reaches $18.6M volume and $10.4M TVL in first 10 days, with LP fees hitting 7.59%
Seed round valued at $50M, with current YT offering 197% ROI at maturity compared to competitor's 185%.
HyperEVM pools activate gauge mechanism, creating additional revenue streams for token stakers
New yield farming opportunity launches with 37% APY through Principal Tokens, featuring BOLD token integration.
First 72-hour metrics show $8.2M trading volume and 771% TVL growth to $6.1M on HyperliquidX EVM with 5.15% LP fees.
Platform launches on HyperEVM network, expanding cross-chain presence.
asdCRV pool migration implemented with new Curve SNG architecture, new pool maturity set for January 2026.
New USDC pool launches with $2M liquidity from StreamDefi partnership, offering highest fixed rates in ecosystem.
Lux Framework deploys AI agent ecosystem with individual token minting; weekly 4,500 SPEC reward pool implemented.
First Tri-Alpha reward distribution complete with top 10% of contributors paid; top 3 users generated 200+ trading signals.
New airdrop eligibility announced for GyroStable BOLD pool depositors, expanding ecosystem integration across multiple DeFi protocols.
Real-time voting incentives monitoring system deployed via Telegram for token voters.
Full suite of DeFi tools launches on Avalanche network, including Fixed Rates, Yield Leverage, and trading Pools.
Security audit payment dispute emerges as Immunefi covers competition rewards after project refuses to honor approved terms, indicating potential governance concerns.
New Tri-Alpha Rewards program launches July 7th with 4,500 SPEC weekly rewards for stakers participating in voting and signal provision.
New K3 Capital vault integration enables yield generation for sBOLD tokens via Liquity Protocol stability pools.
New reward tracking system launched across six major DeFi platforms, incorporating multiple asset types including Stability Pool deposits, various LP positions, and token holdings.
slvlUSD maintains 9.13% Q2 yield with $35M USDC borrowed; $6.49M annualized fees from lending activities.
New sBOLD and ysyBOLD assets launch with 10% fixed rate yield opportunities via Principal Tokens.
Security-related dispute emerges with ImmuneFi platform.
Expanding to BNB Chain with full feature suite including fixed rates and permissionless pools.
Principal Token pools show insufficient depth for large trades, raising concerns about promoted yield strategies.
Weekly liquid locker distributions reach $105K across six assets, with sdCRV leading at $86K.
New sGHO pool launches with $700k liquidity, offering 29% baseline rate plus incentives for liquidity providers.
Launches on Avalanche blockchain, introducing fixed rates, yield products and permissionless pool creation.
New sBOLD pool launching in partnership with Liquity Protocol and k3 capital.
Binance Wallet integration live, enhancing accessibility and utility.
New sdSPECTRA staking derivative launches, offering boosted rewards while preserving voting rights
New inwstETHs pool offers YT holders 120x leveraged exposure across 8 reward streams
New governance proposal (SGP 9) opens for voting on transferring BNB Chain contract ownership to DAO control.
Highest fixed EUR rate product now available on platform
sBOLD token launches as second Liquity V2 stability pool wrapper, offering yield opportunities and airdrop eligibility.
Two new yield farming options launch: Gami Capital's lvlUSD vault offering 17.67% APR with multi-strategy approach, and Morpho Labs lending at 4.97% APY with 40x XP multiplier.
Weekly Liquid Lockers distributes $121K across six tokens including sdCRV ($98K) and sdPENDLE ($13K), while maintaining voting rights.
Agent security infrastructure launches with sandbox testing, Lux framework permissions, and Syntax transaction transparency.
Morpho Labs USDC Vault integrates PT-USDO, enabling USDC borrowing through Based Morpho platform.
inwstETH yield token enables rapid access to multiple point systems for potential airdrop opportunities.
Fixed rate markets approaching expiration while USDO remains 1% depegged, threatening current 20% APY yields.
New yield token platform enables access to 7+ point systems through single-stake mechanism.
New reward distribution of $120K available for Liquid Lockers, including 92K sdSPECTRA and 177K sdCRV tokens.
Governance system goes live enabling SPEC staking and community voting on market moves every 8 hours.
inwstETHs introduces one-click automated looping functionality via loopfix integration.
Current PT-SuperETH yield rate stands at 10.69%.
Highest yield opportunity available through Spectra's PT-lvlUSD-05JUN2025 at 13.77% APY.
First autonomous AI-driven on-chain hedge fund launches on HyperliquidX with multi-agent trading system.
First round of sdSPECTRA rewards now claimable, featuring weekly rebasing, voting fees, and vote incentives on Stake DAO.
AMM upgrade increases liquidity efficiency by 100x, enabling higher fee generation for LPs.
Fixed-rate stablecoin yields of 14-17% available while general DeFi yields are declining.
Weekly rebasing rewards now stream as sdSPECTRA tokens; voting fees and incentive rewards transition Tuesday from direct rewards to sdSPECTRA.
New GHO/USR pool reaches $7M TVL in 24 hours with triple yield sources and additional staking rewards.
New GHO-USR pool launches on Base with 104% baseline yield and $600k TVL, offering multiple reward streams.
Stablecoin yields up to 15% fixed APY; sdSPECTRA holders earn multiple reward streams including rebasing and voting fees.
Live Balancer V3 pool deployment on Base network features Aave boost, LP incentives, and pending Pendle integration.
New platform launch features $18M seeded liquidity pool and highest yield multiplier on Hemi.
Yield farming multiplier reduced to 5x following end of bonus period.
Major DeFi integrations drive lvlUSD to $150M market cap milestone with growing liquidity and trading volume.
Stablecoin yield vaults maintain 14-17% returns while broader DeFi yields decline.
LP migration to Napier Finance scheduled for next week; TVL increasing but remains underfarmed.