Description
Timeless Finance is a decentralized, perpetual yield market protocol that allows users to long, hedge, or speculate on yield exposure without the constraints of maturity dates or fragmented liquidity. Launched on the Ethereum Mainnet in June 2022, the protocol operates using specially designed ERC-20 tokens: Perpetual Yield Tokens (PYT) for longing yield, Negative Yield Tokens (NYT) for hedging against falling rates, and Compounded Perpetual Yield Tokens (xPYT) for auto-compounding returns. When users deposit assets, they are placed into a yield farm, minting PYT and NYT. The protocol utilizes a concentrated liquidity pool on Bunni.pro for its PYT tokens and is supported by its Liquidity Incentive Token (LIT). As an open-source project, Timeless encourages integration into dApps and smart contracts and is managed through a community-led governance model using Timeless Request for Comments (TRCs). The project has secured an angel investment round to support its mission of building open and permissionless financial infrastructure.