Permissionless yield protocol | Create pools, fix rates, trade yield, govern & earn | Formerly APWine
On-chain
Joined August 2020
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MetaVaults are now live!
→ app.spectra.finance/metavaul…
✅ Pool expiry cycles handled automatically
✅ New onchain business venue for curators
✅ YT yield auto-capture & autocompounding
✅ Single receipt token & more
Discover all the benefits ↓
Record volumes on the stXRP November market on Spectra.
A month ago, @Firelightfi launched its cover protocol, and premiums paid by its customers now flow into stXRP as an onchain rate.
That rate shows up across Spectra's stXRP markets as the purple line below. Its step pattern follows the rhythm of premium tranches arriving in the stXRP vault.
Yield Tokens (YT) capture the yield stXRP generates. Principal Tokens (PT) give holders a predictable outcome through a fixed rate on stXRP. With a live onchain rate to price against, trading on both sides of the market is picking up, with 30-day volume up 83%.
Trading activity shows up in the green line: the market's implied APY. Each PT purchase pushes it down, and each YT purchase pushes it up.
Spectra assets such as PT-stXRP are increasingly becoming building blocks for XRP-denominated products, used by curators and operators across DeFi.
XRP yield trading is taking shape on Spectra, and it's moving fast. Next up, the industry's first order book for XRP yield is coming to Spectra on @FlareNetworks this month.
stXRP markets on Spectra ↓
Fixed rates (PT):
app.spectra.finance/fixed-ra…
Yield trading (YT):
app.spectra.finance/trade-yi…
Pools:
app.spectra.finance/pools?se…
Spectra is present at the DeFi Security Summit 2026 (@summit_defi) in Mumbai during @EFDevcon week.
On stage: Spectra protocol lead @petercalic99 introduces formal verification and shares research on how AI agents use Foundry and @Certora to verify smart contracts.
Spectra retweeted
stXRP’s onchain rate is sourced from cover premiums paid to protect DeFi capital. That rate is now tradable on @spectra_finance, so holders can separate principal from yield and choose the exposure that fits them.
Learn more. 👇
stXRP now has an onchain rate, coming from @Firelightfi cover activity.
On Spectra, it trades via Principal and Yield Tokens, opening new use cases for XRPFi on @FlareNetworks.
How to get started and what it means for traders and liquidity providers ↓
![stXRP’s Onchain Rate: What It Means for Traders and Liquidity Providers on Spectra [+Guide]](https://pbs.twimg.com/media/HVungKhWMAAq_2E.jpg)
Introducing Spectra OTC, live on @FlareNetworks
→ app.spectra.finance/otc
Fixed-rate and yield deals, quoted by vaults, public or private, filled in full. Early offers from @GamiLabs and others.
• Fixed rate at size
• Exit to a known buyer
• Custom maturity on request ↓
8/ How OTC fits into the Spectra trading stack:
• AMM pools keep every market priced at all times. Trades fill instantly against pooled liquidity, and LPs collect fees on that flow.
• The order book lets anyone post a resting order at the rate they choose, straight from the wallet. Orders carry no price impact and fill in part or in full as the market meets them.
• OTC is for deals where size or counterparty matters. Each deal fills in full at one rate, public or private.
The order book rollout across EVM networks is expected in Q4.
9/ There are two ways to trade on Spectra OTC:
Creating an offer: the user sets the rate in implied APY, the size and how long the offer stays valid, from one day to maturity. It can be open to anyone or restricted to specific wallets.
Requesting a quote: the user picks fixed rate or yield, the market and the size. Eligible MetaVaults quote the request, on a listed maturity or a new one their curator can deploy.
The offer flow takes inspiration from @TenorFinance, a fixed-rate lending platform.
More networks join Spectra OTC in the coming days.
Spectra OTC in the Spectra App ↓
app.spectra.finance/otc/crea…
Spectra retweeted
Spectra became the leading protocol for XRP yield trading, acting as the bedrock for XRP fixed income and yield deals.
Below is the most in-depth piece on XRP yield trading in the industry. Soon, an order book will strengthen this venue for actors operating at size
stXRP now has an onchain rate, coming from @Firelightfi cover activity.
On Spectra, it trades via Principal and Yield Tokens, opening new use cases for XRPFi on @FlareNetworks.
How to get started and what it means for traders and liquidity providers ↓
stXRP now has an onchain rate, coming from @Firelightfi cover activity.
On Spectra, it trades via Principal and Yield Tokens, opening new use cases for XRPFi on @FlareNetworks.
How to get started and what it means for traders and liquidity providers ↓
Following SGP-22's approval of the audit, @PashovAuditGrp is now reviewing the Spectra order book for EVM networks.
Once complete, the order book will roll out across Spectra’s EVM deployments, including @FlareNetworks and @base, with launch expected in Q4.
Pashov Audit Group 🤝 @spectra_finance
Spectra lets users launch yield markets and we are now bringing our security expertise to their new order book functionality on EVM networks. Looking forward to a great partnership together🫡
Spectra retweeted
USDC rewards for in-range limit orders on @spectra_finance, distributed through Merkl.
Incentivized limit orders now live on Spectra @StellarOrg, backed by @GamiLabs
→ app.spectra.finance/limit-or…
Orders in range collect rewards until filled. First markets: $deJTRSY - a token providing exposure to Janus Henderson’s tokenized Treasury fund, powered by @centrifuge ↓
Spectra retweeted
Another step forward for US Treasury exposure onchain.
$deJTRSY is among the first markets supporting limit orders on @spectra_finance.
The possibilities for tokenized assets on @StellarOrg continue to expand.
Incentivized limit orders now live on Spectra @StellarOrg, backed by @GamiLabs
→ app.spectra.finance/limit-or…
Orders in range collect rewards until filled. First markets: $deJTRSY - a token providing exposure to Janus Henderson’s tokenized Treasury fund, powered by @centrifuge ↓
Spectra retweeted
We also have increased the incentives for the @spectra_finance PT sJEUR pool, since for now we will not be incentivising the jEUR-EURC stablepool.
app.merkl.xyz/opportunities/…
2/2
Incentivized limit orders now live on Spectra @StellarOrg, backed by @GamiLabs
→ app.spectra.finance/limit-or…
Orders in range collect rewards until filled. First markets: $deJTRSY - a token providing exposure to Janus Henderson’s tokenized Treasury fund, powered by @centrifuge ↓
3/ The trading panel of every incentivized market guides each order:
• The range and reward range APR, shown up top
• Checks confirming the order is better than the market rate and sits in range
• An expiry for how long an order rests
• XLM or USDC are accepted in addition to native assets, with the conversion handled in the same flow
New to Spectra on Stellar? The getting-started guide covers moving over from EVM and placing a first order:
paragraph.com/@spectra/getti…
