Spectra Overview

Spectra is an EVM-centric protocol for interest rate derivatives with an easy-to-use flagship app.

The Spectra protocol is permissionless, meaning its services are entirely open for public use. Anyone can create new markets at will, swap yield derivatives, or become a liquidity provider.

Below, you'll discover its key objectives and features.

These docs are non-technical. If you are looking for more technical / developer-friendly documentation, see the Developer Docs.

Protocol Primitives

Spectra's Yield Token and Principal Token, minted on top of ERC-4626 interest-bearing tokens, are core protocol primitives. Spectra separates the right to principal from future yield via a process called yield tokenization. This process unlocks new financial possibilities beyond standalone interest-bearing tokens.

Core Use-Cases

• Permissionless Pool Creation

• Fixed Rates

• Yield Trading

These key use cases can be abstracted into other narratives, such as upfront yield, discounted tokens, fixed savings, or fixed lending activities.

Key Objectives

• Empowering DeFi with a permissionless protocol for interest rate derivatives

• Delivering cutting-edge solutions that can be seamlessly incorporated, built upon, and utilized by builders and other platforms in the DeFi ecosystem.

• Upholding decentralization as a fundamental value, promoting community-driven growth via a DAO while the core team diligently and sustainably progresses the protocol

Entity Breakdown

Spectra is a decentralized interest rate derivatives protocol with different entities and individuals contributing to its development and adoption.

• Spectra Protocol: A decentralized, permissionless interest rate protocol that permanently exists on the Ethereum Virtual Machine.

• The Spectra App: a flagship interface that allows easy interactions with the Spectra protocol. Multiple protocol interfaces can exist.

• Spectra Governance: A governance system for governing the Spectra Protocol, enabled by the APW token.

• Perspective SAS: A company that develops the Spectra Protocol and the Spectra App.