Spectra and Hemi bring fixed-rate returns and composable yield to BTC through a transparent, permissionless interest rate marketplace.

Spectra is reshaping how BTC can be used to earn. In partnership with Hemi, the protocol brings structured yield and fixed rates to BTC, giving rise to a new class of permissionless interest rate markets.

The idea for Spectra was born during the DeFi Summer of 2020, when Spectra Co-Founder Gaspard Peduzzi saw that yield farming was chaotic. Although widely accessible, It was a time when rates fluctuated violently, which negatively impacted successful financial planning and strategies. Spectra set out to change that by giving users the tools to trade yield with structure, clarity, and composability, like any other asset.

To fill the perceived market gap, Spectra pioneered Principal Tokens (PTs) and Yield Tokens (YTs), foundational tools for building fixed-rate strategies, yield speculation, and looping setups. As a multi-chain interest rate market, positions on Spectra generate yield based on the yield produced by DeFi vaults and their respective points programs.

This structure is based on fixed-term pools. At the maturity of the pool that powers its respective YT and PTs, the yield derivatives are settled.

“Spectra lets anyone tokenize and trade onchain interest rates. Our protocol is modular, permissionless, and already live across major chains with approximately $100M in TVL.” –Gaspard Peduzzi.

Spectra And Hemi Bring Yield to BTC

Spectra integrated Hemi because it’s the first EVM chain with true Bitcoin roots, built by trailblazing architects like Jeff Garzik. Hemi forges together Bitcoin’s ethos with Ethereum’s flexibility, opening up a world of utility and unlocking new tools for BTC holders, including fixed income instruments.

The alignment creates a new frontier for Bitcoin, where capital can do more than sit idle. With Hemi serving as the programmable foundation and Spectra delivering the tools, BTC finds its place within a structured, transparent yield market, free of central providers or off-chain abstractions. 

For BTC holders, Spectra and Hemienable fixed-income products, which are inaccessible for standalone holders on the Bitcoin blockchain. Now, it’s all available under the Hemi section of the Spectra App.

Spectra’s Unique Approach

Spectra stands apart as crypto’s only end-to-end permissionless yield tokenization protocol. It allows any user or project to spin up a pool, tokenize yield, and open up trading venue for the broader market. All this without approvals or barriers, fully automated from launch to expiry. This composable architecture makes Spectra prime for integration into any DeFi yield or points strategy.

Users can get started by heading to the Fixed Rates tab, where they may find stablecoin prices below a dollar or ETH trading at a discount compared to market value; these are PTs, which trade at a discount until maturity in a streamlined, predictable yield market. From there, users are free to explore Yield Leverage tools to speculate on volatility, pursue points, or grasp a higher upside.

Peduzzi invites beginners to explore structured yield through stablecoin PTs:

“Open Spectra, click into the Fixed Rates tab, and see if there is a stablecoin trading at 95 cents. That is your first fixed-income moment where DeFi yield stops being a black box and becomes an instrument with a predictable outcome. This is the tool where I recommend most people to start.”

Build On Hemi With Spectra

Spectra is built for composability, ready for any team, DAO, or protocol building on Hemi to plug in permissionlessly. Whether the goal is designing new yield strategies that integrate exposure to BTC or seeking reliable, fixed returns, Spectra provides the backend to build on.
Turn BTC into an earning asset on Hemi with Spectra by visiting Spectra.finance today.