Gyld's issuance engine splits staked ETH or SOL into two independently tradeable instruments, giving institutional desks the precision of fixed income applied to digital asset yield.
Institutions deposit ETH or SOL into Gyld's regulated, segregated custody layer. The full position remains staked and generating network rewards throughout its lifecycle. No principal is at risk from the separation process.
The issuance engine mints two distinct tokenized instruments against the staked position: a Principal Token (PT) representing the underlying asset at par, and a Yield Token (YT) representing the contractual right to receive all future staking income over a defined maturity window.
PT and YT trade independently on Gyld's institutional order book. A yield buyer acquires the YT at a discount, receiving the full floating staking yield. A yield seller receives upfront certainty. Principal holders carry no yield risk. All instruments settle T+0.
Throughout the maturity window, staking rewards are collected by the Gyld custody layer and distributed pro-rata to YT holders in real time. Distribution is automated, auditable on-chain, and reported in institutional-grade format for fund administration.
At the defined maturity date, PT holders redeem their principal at par value. YT holders have received all yield over the period. The position is unwound cleanly with no unbonding delay, no slippage, and no residual yield accrual. Bond-equivalent settlement.
Receive upfront certainty on your ETH or SOL staking income. Sell the YT at market price today and lock in a known return regardless of future rate movement. Ideal for treasuries and managers seeking predictable income.
Hold ETH or SOL principal exposure via PT without the floating yield variability. Useful for structured products requiring fixed-value collateral or for allocators who prefer clean asset exposure.
Buy YT at a discount to face value to gain leveraged exposure to staking yield. If yields rise above the purchase price, the YT generates alpha. A duration trade on the digital fixed-income curve.
Build a laddered portfolio of 30, 90, and 180-day YT positions across ETH and SOL. Match income receipts to liability schedules or reinvestment windows with the same precision as a traditional bond ladder.
| Network | Instrument | 30-Day Yield | 90-Day Yield | 180-Day Yield | Settlement | Min. Size |
|---|---|---|---|---|---|---|
| ETH | YT — Yield Token | 3.94% | 3.91% | 3.88% | T+0 | On application |
| ETH | PT — Principal Token | Par value at maturity date | T+0 | On application | ||
| SOL | YT — Yield Token | 6.81% | 6.77% | 6.72% | T+0 | On application |
| SOL | PT — Principal Token | Par value at maturity date | T+0 | On application | ||
The asset remains staked on-chain throughout the lifecycle. Gyld's custody layer holds the staked position in segregated accounts and does not re-hypothecate or lend the underlying asset. You retain economic exposure through the PT and YT instruments.
Gyld maintains a liquidity buffer to facilitate T+0 settlement on PT and YT trades. When you sell a YT, you receive settlement immediately. Gyld manages the underlying staking position and absorbs the unbonding timing risk, which is priced into the instrument spread.
Minimum sizes are determined on application based on the allocator type and mandate. We work with institutional counterparties and the process begins with a briefing. Contact the team to discuss your specific requirements.
Staking rewards are collected by the Gyld custody layer as they accrue on-chain. Distributions to YT holders occur on a defined schedule (daily or weekly depending on tenor and network) and are reported in institutional fund administration format with full on-chain audit trail.
YT holders receive floating yield, meaning distributions reflect actual network staking rewards over the period. If yields fall, distributions fall accordingly. Allocators who want yield certainty should consider selling YT at issuance to lock in a fixed return, or contact the team to discuss structured variants.
Gyld has obtained legal opinions across 13 jurisdictions and operates under a defined compliance framework including KYC, AML, and institutional counterparty verification. Full regulatory documentation is available to qualified institutional counterparties under NDA. Please request a briefing to discuss your jurisdiction.
Request a private briefing with our institutional team. We will walk through the instrument mechanics, compliance framework, and integration pathway for your specific mandate.