APWine · interactive mechanism simulation

Farmers deposit yield-bearing tokens into a split vault, which mints a Principal Token (redeemable at expiry) plus a Future Yield Token sold up front on APWine's AMM. Speculators buy that future yield; when the fixed-term epoch settles, FYT holders claim the accrued yield and PT holders redeem their principal — then a new epoch begins.
Farmers deposit yield-bearing tokens Split vault epoch 1 · day 0/90 FYT AMM pool 0.25% swap fee Aave / Yearn variable APY: 6% Speculators buy future yield Epoch settlement PT redeemed · FYT claims yield 0 epochs settled
TVL locked
0 IBT
Current epoch
1
Yield accrued this epoch
0.00%
Implied fixed rate (FYT market)
6.0%
Parameters — edit me
6.0%
0.7/s
1.0/s
90 days
0.25%
Controls

Illustrative simulation. Defaults mirror the researched APWine V1 mechanism (90-day fixed epochs, 0.25% custom AMM fee, PT/FYT split of deposited yield-bearing tokens, veAPW-directed liquidity), but deposit sizes, trade timing and the implied fixed rate are simplified for visualization — not live onchain data. The "bear market" button illustrates why underperformance set in: when base yields collapse there is little future yield left to sell. Part of The Onchain Experiment Atlas.