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In order to create yield markets for DeFi products, Exponent needs to recognize them in one form or another. Each yield market follows a standard that makes any DeFi product from a protocol fully fungible, whether by tokenizing lending positions or simply wrapping existing tokenized positions, such as yield-bearing tokens (e.g. LSTs). While each market has its own implementation, they all follow the same mechanism and are de facto compatible with Exponent’s suite of products. In Exponent’s case, this standardized mechanism for recognizing DeFi markets is leveraged across several of its core products:
  • Exponent Yield Stripping: To create yield derivative assets (Income Tokens and Yield Tokens),
  • Exponent Time-Dynamic AMM: As the pair asset for any pool of their respective market.
While every standard follows the same logic, Exponent still ensures each new integration requiring a new standard goes through audits for added security. See all the reports here.