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A series is a fixed-maturity market built on top of a vToken. Each vToken can have multiple series over time. Every series has:
  • a fixed maturity date
  • its own ST
  • its own EPT
ST and EPT only apply to that specific series. When the series reaches maturity, that series stops accruing new time-based exposure.

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Before Maturity

Before maturity, users can:
  • hold vToken for combined yield and rewards-side exposure
  • buy ST for principal + yield exposure until maturity
  • buy EPT for rewards-side exposure until maturity

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At Maturity

At maturity:
  • ST redeems back into vToken
  • EPT stops earning new exposure for that series and can be used to claim CreditTokens based on accrued credits
  • vToken continues as the base vault share