Maturity & Cycles
How time works in Yield Forge — cycles, maturity dates, and what happens when they end.
Every Yield Forge pool operates in cycles — fixed time periods with a clear start and end. When a cycle ends, it matures, and a new cycle begins.
Cycles
- Duration: 90 days (fixed)
- Auto-rollover: When a cycle matures, a new one is created automatically when someone adds liquidity
- Unique tokens: Each cycle has its own PT and YT (e.g.,
YF-PT-A3F2E9-31MAR2025)
What Happens at Maturity?
| Token | Before Maturity | After Maturity |
|---|---|---|
| PT | Trades at a discount on the AMM | Redeemable for proportional share of underlying LP value |
| YT | Earns yield from the pool | Stops earning new yield (claim remaining) |
Why Does This Matter?
For pricing: The time remaining is the biggest factor in PT and YT prices. Longer time = bigger PT discount = higher YT value.
For strategy: Know your time horizon. If you're buying PT with 10 days to maturity, your discount (and profit) will be small. If you're buying YT with 10 days left, there isn't much yield left to capture.
For planning: You know exactly when you'll get your capital back. No surprises.
!IMPORTANT Always check the maturity date before trading. Make sure it aligns with your timeline.
What If I Miss the Maturity Date?
Nothing bad happens. PT stays redeemable forever — there's no deadline to redeem. Your funds don't expire.
YT also lets you claim any uncollected yield after maturity. You just stop earning new yield.