Bond Token Lifecycle

Bond Tokens progress through a complete lifecycle from creation to redemption:

Lifecycle Stages:

• Issuance: Primary market funding where Bond Tokens are created through KYC-verified investment
• Trading: Permissionless secondary market trading on DEXs
• Coupon Distribution: Automated periodic interest payments to token holders via snapshot-based entitlements
• Redemption: Final principal repayment at maturity, issuer bond call, or early exit via the Redemption Vault

Vault Products:

• Reinvestment Vault (vbtXXX): Auto-compounding ERC-4626 wrapper that enables full DeFi composability, lending, borrowing, collateral, leveraged looping
• Redemption Vault: Batch-based early exit path to access off-chain liquidity when onchain liquidity conditions are unfavorable

For complete details, explore each lifecycle stage and vault product using the links above.