DurataMarkets
A market is one underlying asset and one maturity date. Each one issues its own PT/YT pair, priced independently of every other maturity.
| Series | Underlying | Maturity | Status |
|---|---|---|---|
| PT/YT-SGOV | Tokenized Treasury bill | TBA | Pending deployment |
No market is live yet. This table lists what is planned, not what exists on-chain — when a series is deployed, the app reads its real state directly from the contract.
Phases
Phase 1 — Treasury bills
T-bill yield is transparent and steady, which makes it the right asset to validate PT pricing, maturity settlement and yield accounting before anything more complex.
Phase 2 — Tokenized stocks
A tokenized stock earns lending income when borrowed through an on-chain money market. The same PT/YT model separates it, once the adapter can account for intermittent yield.
Admission criteria
| Principal accounting | Reliable and transparent, with no ambiguity about what one unit represents. |
| Yield | Observable or auditable on-chain, so an adapter can measure it without trusting a report. |
| Liquidity | Sufficient depth and reliable redemption on the underlying itself. |
| Access | Compatible legal and geographic rules, including any transfer restrictions in the asset. |
| Review | Completed technical review, risk assessment and audits. |
The launch adapter measures yield as balance growth, which fits an asset whose holder balance rebases as interest accrues. An asset that instead grows a price per share needs its own adapter — pointed at the wrong model, a market would report zero yield and its YT would be worthless by construction.