Yield Trading Basics
Yield-bearing tokens (YBT) are derivatives of another token that can generate yield.
SOL
(Underlying)
Stake
mSOL
(YBT)
Principal
(PT)
Yield
(YT)
For example, mSOL is a YBT because it is created by staking SOL – the "underlying" – and earns Solana's native staking yield. Sandglass splits YBT into its principal and yield components, enabling each to be traded separately. The tokens representing the principal are called principal tokens (PT) and the tokens representing the yield are called yield tokens (YT).
DisclaimerSandglass is currently in Beta. We passed Sec3's X-Ray audit and aim to undergo a formal audit in September. Trading digital assets entails risk, and the value of digital assets fluctuate. Sandglass is provided "as is", at your own risk, and without warranties of any kind.