if you’re trying to go from “curious” to shipping something on mainnet, this is the useful version of an ecosystem call, by @0xkaankacar

2 years in DeFi. I do not say this lightly. We are extremely close to selling yield before it is earned. We are not asking for a ban. We are asking for a pause.

Currently on Stellar, one can lend, but cannot sell a term. You can put USDC in a pool and watch APY move. You cannot lock that rate. You cannot sell the next 90 days of carry. You cannot tell anyone "this dollar comes back on this date." Pool APY is not a rate market. It is a hope the utilization curve holds. Stellar already produces the yield. ~$60M blend USDC, floating. what it does not produce is a term. no locked rate. no saleable coupon. no 90-day dollar. That gap is the demand, which Sidereal fills up! PT locks the rate to a date. YT is the coupon until that date. Same book, now it clears. Currently on Testnet. Join us now! sidereal.tech/request-access

Sidereal is up for community voting in SCF #45. We’re not asking you to fund a concept. The Blend USDC book is already there, about $60M at a floating rate. What’s missing is a term market on top of it: lock a rate or trade the future coupon. That’s what we’re shipping. Live on mainnet, small market, 3-month Blend market first. communityfund.stellar.org/da… If you’re a verified SCF voter and you think Stellar should have fixed income instead of only pool APY, we’d like your vote.

Most people on Stellar think the problem is finding yield. That problem is already solved. > $60.1M USDC is sitting in Blend’s Fixed Pool at 8.75%. > ~$5.3M of coupon a year, if the curve doesn’t move. > Aave USDC on Ethereum is paying ~2%. The scarce thing is not APY, it's a date. Treasuries cannot budget a floating utilization curve. Builders cannot show a user “you get this back on March 5.” LPs cannot sell the carry. They can only hope it lasts. That is a demand/supply mismatch. Supply: dollars already earning. Demand: a 90-day number someone can underwrite. No market between them. Sidereal is that market. PT if you want the rate locked. YT if you want the leftover yield. Same $60M book. Now it can clear. @BuildOnStellar @StellarOrg

Stellar already produces yield. Blend USDC has tens of millions supplied at a floating rate.What it doesn’t produce is a term. >You can’t lock that rate. >You can’t sell the future coupon. >You can’t get a 90-day dollar with a known payoff. It’s a missing market. Sidereal splits a yield-bearing position into PT and YT. PT is the fixed-rate claim to maturity. YT is the floating yield until that date. Same underlying. Now it has a tenor.

We're extremely excited to let you all know that Sidereal has been selected for the Community Voting in the SCF #45 We are looking forward to making Sidereal a product that the Stellar Ecosystem needs, and we would love for your votes! communityfund.stellar.org/da…