# Spectra App

> Spectra is a permissionless interest-rate derivatives protocol. Principal Tokens (PT) lock a fixed rate until maturity, Yield Tokens (YT) trade future yield, PT/IBT pools pay liquidity providers, and curated MetaVaults roll positions automatically. This file lists live markets; prefer the API for programmatic use.

Snapshot as of 2026-11-13T21:29:24.212Z. Rates are market-driven and change constantly; fixed APY holds only if PT is held to maturity, barring [negative yield](https://docs.spectra.finance/docs/spectra/security/risk-documentation#negative-yield-risk) in its yield source. Every market page has a markdown version (append `.md` or send `Accept: text/markdown`).

## Programmatic access

- [Spectra API](https://api.spectra.finance/api-docs): OpenAPI spec. Markets: `GET https://api.spectra.finance/v1/{network}/pools`; MetaVaults: `GET https://api.spectra.finance/v2/metavaults`; positions: `GET https://api.spectra.finance/v1/portfolio/{address}`
- [Developer docs](https://dev.spectra.finance/llms.txt)
- [Protocol docs](https://docs.spectra.finance/llms.txt)

## Fixed-rate markets (largest liquidity first)

- [PT-stXRP(FXRP)-2026/11/26 on Flare Mainnet](https://app.spectra.finance/fixed-rate/flare:0x966d1f376457a3aca5fbc2a6be985f6e5e7708eb.md): fixed 5.72% on FXRP until Nov 26, 2026, liquidity $2.82M, variable 3.15%, LP 7.07%
- [PT-sw-deJTRSY(USDC)-2027/03/15 on Stellar](https://app.spectra.finance/fixed-rate/stellar:CDHIBKKS53XQAMIDVL7SZLPM2DEHH3OCO7SU6IE3OW65LESYF5K5ABMU.md): fixed 3.17% on USDC until Mar 15, 2027, liquidity $511.0K, variable 3.53%, LP n/a
- [PT-sjEUR(jEURx)-2027/01/13 on Base](https://app.spectra.finance/fixed-rate/base:0xa07f72baa1eda80f6f0e25c2fb55180be46fdf69.md): fixed 4.94% on jEURx until Jan 13, 2027, liquidity $393.9K, variable 3.18%, LP 11.88%
- [PT-sw-sFLR(WFLR)-2026/12/31 on Flare Mainnet](https://app.spectra.finance/fixed-rate/flare:0x76e3616f8cc8ba745b91c1dd144cae1e885dd543.md): fixed 9.50% on WFLR until Dec 31, 2026, liquidity $336.7K, variable 7.37%, LP 16.00%
- [PT-sw-deJTRSY(USDC)-2026/12/15 on Stellar](https://app.spectra.finance/fixed-rate/stellar:CAAQJ6CN3KWJUG2CTUFUV27IL2BBWEIQKQA27HR7KFFZXROLHN6ELMBI.md): fixed 3.60% on USDC until Dec 15, 2026, liquidity $150.5K, variable 3.53%, LP n/a
- [PT-avKAT(KAT)-2026/11/19 on Katana](https://app.spectra.finance/fixed-rate/katana:0xbd91b400194ae150cc3c375e977dfd25901ad80c.md): fixed 37.03% on KAT until Nov 19, 2026, liquidity $63.2K, variable n/a, LP 33.93%
- [PT-sw-sFLR(WFLR)-2027/12/31 on Flare Mainnet](https://app.spectra.finance/fixed-rate/flare:0x12332d7c66191e3a0c9dfc816dc98c61db0de15a.md): fixed 8.12% on WFLR until Dec 31, 2027, liquidity $55.6K, variable 7.37%, LP 7.47%
- [PT-stXRP(FXRP)-2026/12/31 on Flare Mainnet](https://app.spectra.finance/fixed-rate/flare:0x1f24ec2acfda3ecdaaf84dda2d707bb23a8d4ac4.md): fixed 4.91% on FXRP until Dec 31, 2026, liquidity $51.2K, variable 3.15%, LP 4.59%
- [PT-stakeTHENA(eTHENA)-2027/10/19 on BNB Smart Chain](https://app.spectra.finance/fixed-rate/bsc:0x2c997a190c35e7cab5644f0b118c3c7f3680ee32.md): fixed 32.35% on eTHENA until Oct 19, 2027, liquidity $18.0K, variable 5.81%, LP 8.56%
- [PT-stXRP(FXRP)-2027/03/31 on Flare Mainnet](https://app.spectra.finance/fixed-rate/flare:0xe7c867e5d2c751967da19f6b4779daa895c0ba06.md): fixed 6.58% on FXRP until Mar 31, 2027, liquidity $13.7K, variable 3.15%, LP 3.50%
- [PT-sw-sFLR(WFLR)-2031/03/31 on Flare Mainnet](https://app.spectra.finance/fixed-rate/flare:0x8fa16e9a54a037f0618fed322d31a70d178390ce.md): fixed 11.09% on WFLR until Mar 31, 2031, liquidity $9.7K, variable 7.37%, LP 7.69%
- [PT-stXRP(FXRP)-2027/09/30 on Flare Mainnet](https://app.spectra.finance/fixed-rate/flare:0x912c6c89a0a55113751cfc6cc45e3dce22e9b46f.md): fixed 4.03% on FXRP until Sep 30, 2027, liquidity $7.5K, variable 3.15%, LP 3.39%
- [PT-yvvbUSDC(vbUSDC)-2026/11/22 on Katana](https://app.spectra.finance/fixed-rate/katana:0x0e6858a3777a15bcaf557f14196f569d7138d485.md): fixed 33.99% on vbUSDC until Nov 22, 2026, liquidity $4.5K, variable 8.41%, LP 31.68%
- [PT-sw-sFLR(WFLR)-2027/09/30 on Flare Mainnet](https://app.spectra.finance/fixed-rate/flare:0x26421f92e35a7a295effb3d662eea3358f9a3fcf.md): fixed 8.01% on WFLR until Sep 30, 2027, liquidity $3.7K, variable 7.37%, LP 7.59%
- [PT-sw-sFLR(WFLR)-2036/02/29 on Flare Mainnet](https://app.spectra.finance/fixed-rate/flare:0xf458314872783c90f57501b129400c8e65574010.md): fixed 5.14% on WFLR until Feb 29, 2036, liquidity $1.8K, variable 7.37%, LP 7.32%

## MetaVaults

- [Gami Spectra USDC](https://app.spectra.finance/metavaults/base:0x5e93e1193a5e297cba0856e9b3f22b6e05429b9a): USDC on Base, curated by Gami Labs, live APY 5.59% (30-day 3.04%), TVL $3.04M
- [vbUSDC Katana](https://app.spectra.finance/metavaults/katana:0xc2dec6328d9ef1ef2ee85901f9c1a8db8dd1c9c1): vbUSDC on Katana, curated by Clearstar, live APY 0.83% (30-day 2.40%), TVL $419.4K
- [Flare XRP Yield Prime](https://app.spectra.finance/metavaults/flare:0x0c4f32c53d4b91a019c7c9d8da14af140295eef6): FXRP on Flare Mainnet, curated by Gami Labs, live APY 4.85% (30-day 4.04%), TVL $2.30M
- [WETH Yield](https://app.spectra.finance/metavaults/base:0xccb76aa1d7f257c437ac4ea9a05e0d46dea5213a): WETH on Base, curated by Clearstar , live APY 1.31% (30-day 0.16%), TVL $5.9K

## Pages

- [Fixed Rates](https://app.spectra.finance/fixed-rate): all fixed-rate markets
- [Liquidity Pools](https://app.spectra.finance/pools): LP opportunities
- [Yield Leverage](https://app.spectra.finance/trade-yield): Yield Tokens
- [MetaVaults](https://app.spectra.finance/metavaults): curated vaults

Tokenized-equity markets are not available to persons in the US, UK, Canada, Australia or Singapore and are not listed here.