Yield Leverage
Buy and sell Yield Tokens to change your exposure to future yield.
Open Yield Leverage (YT) and choose a market. Its YT entitles the holder to the associated interest-bearing token's yield until expiry. Use Buy or Sell, select an available input/output asset and enter the amount.
Review Output, Earn Yield On, Implied APY and Yield Leverage, then Notional Amount, Pool Fee, Price Impact and Min. received under Details. The Slippage control sets the tolerance that the confirmation step repeats as Slippage Tolerance. Minimum received is denominated in the selected output token: YT when buying, and your chosen asset when selling. Token units and decimals can differ.
Earn Yield On is the underlying exposure whose yield the YT output captures: the YT amount multiplied by the current PT rate, expressed in the underlying token. Implied APY reflects the market's price for future yield. Yield Leverage is how much of that exposure the quote buys per unit of input value. The market header's Max Yield Leverage is the market-wide upper bound at the current price, a priced exposure estimate rather than a guaranteed return. An unavailable price should be shown as unavailable; it does not imply a 1× position. The Notional Amount accounts for the underlying exposure involved in the route, rather than treating all YT, PT and IBT units as interchangeable.
Example from the combined app implementation. Quotes and prices change with the market.
Approve the required token if prompted, then confirm Buy YT or Sell YT. After confirmation, check Portfolio. Use Actions → Claim Yield when claimable yield is available. Previously claimed amounts are distinct from amounts available to claim now.
YT stops accruing new yield at expiry. You can still claim remaining accrued yield. Before expiry, matching PT and YT can be burned together.