Standardized Yield
SY is the standardized, yield-accruing asset that every Jitter market is built on. Adapters wrap external yield assets into SY so PT, YT, and the AMM all share one interface.
- Represents
- Wrapped yield asset
- Accrues
- Underlying yield
- Splits into
- PT + YT
What is SY?
When you deposit a yield-bearing asset - for example sSUI received from Scallop - Jitter wraps it into Standardized Yield (SY). SY is an internal accounting asset whose value tracks the underlying yield source. Because every asset is normalized to SY first, the rest of the protocol (PT, YT, markets, AMM) never has to know the specifics of each yield source.
Economic model
SY is the whole position, so it always equals its two halves: 1 SY = 1 PT + 1 YT. As maturity approaches, PT converges to par (1.0) and YT decays toward zero - but at any moment the two bands stack to exactly one unit of SY. Drag the controls to see the composition change.
Key properties
- SY standardizes any supported yield asset behind one interface.
- Its redemption value accrues with the underlying yield over time.
- It is the unit of account for minting PT/YT and for AMM liquidity.
- Direct SY redemptions can be rate-limited by a withdrawal circuit breaker.