Creating Yield Tokens & Liquidity Pools
Timeless is a permissionless protocol, meaning anyone can create PYT, NYT, xPYT, and liquidity pools for any compatible yield source, without ever needing to ask the Timeless team for permission. By doing so, you enable powerful applications like yield boosting, yield speculation, and yield hedging for that yield source.
We provide a web interface for doing so here.
Step 1: Creating PYT & NYT
Go to the Factory page of the Timeless website, and enter the address of the yield-bearing vault you want to deploy PYT & NYT for. Timeless currently supports all Yearn v2 vaults and vaults following the ERC-4626 standard.
If you've entered a valid vault address, you will be able to continue by clicking "Deploy NYT and PYT". This will trigger a transaction in your wallet, which you should send. After the transaction has been confirmed, you will see the addresses of your newly deployed PYT & NYT.
You don't have to worry about writing the addresses down, because you can always come back to this page, enter the vault address, and you will get the PYT & NYT addresses again.
Step 2: Creating xPYT & Uniswap Pool
Switch to the "xPYT & Uniswap Pool Factory" tab, and enter the yield-bearing vault address.
You will also need to enter the starting price of xPYT in terms of the underlying asset, ranging from 0.5-1. Please see PYT price model to determine the starting price based on the vault's APY.
Once you've done that, click "Deploy xPYT & Uniswap Pool" and send the transaction in your wallet. After the transaction has been confirmed, you will see the addresses of your newly deployed xPYT & Uniswap pool.
