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TIMELESS


DO MORE WITH YOUR YIELD

Timeless is a perpetual yield market protocol, enabling you to long or hedge
your yield exposure seamlessly.

Launch app


UNLOCK YOUR YIELD'S POTENTIAL

Long yield, hedge against dips in yield rates, or speculate on yield
fluctuations without worrying about maturity dates or fragmented liquidity.


LONG YOUR YIELD

Aspire for higher yield? Timeless has you covered. Boost your yield up to 2x for
any supported market by buying PYT or xPYT tokens, available through a unique
concentrated liquidity pool at Bunni.pro.


HEDGE AGAINST FALLING YIELD RATES

Worried that yield rates might fall? Timeless enables you to hedge against such
risks. Earn a stable yield rate regardless of future rate changes by buying NYT
tokens.


TRADE FUTURE YIELD CHANGES

Do you think you know how yield rates might change? Timeless lets you put your
money where your mouth is. Speculate on future yield rate changes by trading
Timeless yield tokens.


YIELD TOKENS DO THE HARD WORK

Timeless is powered by yield tokens, specially designed ERC-20 tokens whose
values are related to yield rates. Each market corresponds to a set of three
yield tokens.




PERPETUAL YIELD TOKEN ($PYT)

Long your yield exposure

Holding PYT grants you continuous access to the yield generated by the
underlying assets. This perpetual yield is directly channeled to PYT holders,
eliminating concerns over maturity dates and fragmented liquidity. As the yield
rate climbs, so does the value of PYT.


NEGATIVE YIELD TOKEN ($NYT)

Hedge your yield exposure

The value of NYT inversely correlates with yield rates. When rates rise, NYT
depreciates; conversely, when rates decline, NYT appreciates. Distinct from PYT,
NYT does not accumulate yield from the underlying asset.


COMPOUNDED PERPETUAL YIELD TOKEN (XPYT)

Maximize Yield with xPYT

xPYT streamlines the enhancement of your yield exposure by automatically
compounding the underlying yield into additional PYT tokens, all while cutting
down on your compounding costs.


FAQ

How does Timeless work?
Timeless revolutionizes yield strategies. When you deposit assets, such as 100
USDC, they're immediately funneled into a yield farm. This action mints 100 PYT
and 100 NYT tokens, designed for specific yield preferences. PYT offers a
bullish stance on yield rates, while NYT provides a safety net against
decreasing yields. What sets Timeless apart? PYT is linked to a singular,
concentrated liquidity pool on Bunni. This not only means perpetual yields but
also removes the usual headaches of maturity dates and liquidity fragmentation.
Plus, with xPYT, you get the added advantage of auto-compounded returns,
ensuring optimal yields with minimal fuss.
How can I long my yield exposure using xPYT or PYT?
By leveraging the long yield exposure through PYT or xPYT, you're essentially
tapping into an advantageous market position. When you purchase PYT or xPYT,
which often trades at a discount to its underlying asset, you stand to receive a
yield rate superior to making direct deposits in the underlying yield farm. For
a clearer perspective, consider buying 1 xPYT at 0.75 USDC. This means you're
positioned to earn the yield equivalent to 1 USDC, translating to an impressive
yield boost, with a multiplier effect of 1 / 0.75 = 1.33x.
What are the risks if I long my yield exposure?
Since it requires to hold xPYT or PYT, your position is exposed to changes in
the future yield rate. This could be desirable or undesirable depending on your
beliefs. You would profit if yield rates go up, but suffer a loss if yield rates
go down.
How does yield hedging work?
Suppose you have a yield-earning position somewhere (e.g. Aave) and you're
worried that the yield rates might go down in the future. You can hedge against
this risk by converting part of your portfolio into NYT. When the yield rate
goes down, the price of NYT goes up, increasing your position's effective yield
rate.
What are the risks of yield hedging?
When yield rates go up, your NYT will go down in value. This means yield hedging
stablizes your yield rate in both directions, setting both a lower bound and
upper bound on your effective yield rate.
How do I price PYT & NYT based on the yield rate?
Please read https://docs.timelessfi.com/docs/concepts/pyt to learn more.
What happens to my unclaimed yield when I transfer PYT?
When you transfer your PYT, the unclaimed yield is automatically credited to
your account, so you don't have to worry about losing your yield when you
transfer PYT. Do note that you still need to claim the yield.
Should I hold PYT or xPYT?
Either option is valid. If you hold PYT, you need to manually claim the yield,
but the yield is stored as the underlying asset making it stable. If you hold
xPYT, you don't need to manually claim the yield, but the yield is converted to
PYT which is exposed to future yield rate changes making it less stable.
I want to deploy PYT/NYT/xPYT for a farm. Can I do that?
Yes! Timeless is a permissionless protocol, meaning anyone can deploy PYT, NYT,
and xPYT for any compatible farm. We currently support all Yearn v2 and ERC-4626
vaults. You can go to the Factory page to deploy new yield tokens and liquidity
pools.
How do I provide liquidity for Timeless yield tokens?
Please check out our guide at https://docs.timelessfi.com/docs/guides/lp

CURRENT VERSION AUDITED & SECURED BY

Immunefi, Spearbit and yAudit