DETF means Decentralized ETF
How it works.
One walk.
Five short chapters. Read them in order, or jump in. No invented APYs.
Chapters
Start here, then go deeper.
01
What a DETF is
One token for a basket. The basket works in other apps.
A DETF (Decentralized ETF) is one token for a basket you pick. That basket puts money to work in other apps. You own a piece of the assets behind the token. People can trade the token. Make it, bond to turn it on, then mint or burn.
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02
Pick a basket shape
Four types. Bond, mint, and burn stay the same.
A DETF is one token for a basket. The type is the shape of that basket. Bond, mint, and burn stay the same. Pick the type that matches the vaults you want.
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03
Mint or bond
Tokens you can move now, or the cheaper maker seat.
Mint if you want DETF tokens you can move now. Bond if you want the cheaper maker seat: the DETF fills the other side for you. Bonders also get a cut of new DETF when others mint or bond. On Policy, they can get extra DETF when the price is rich.
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04
How the price stays honest
Keep vault-share prices current, or let traders catch up.
A DETF is one token for a basket. The basket often holds vault shares. A rate provider tells the DETF what one vault share is worth right now. Turn rates on to keep mint, burn, and the shown price current. Leave them off if you want traders to fix a stale price. Neither setting is yield.
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05
The market under the token
Real Uniswap V4 pools people can trade.
A DETF needs a real market behind the token. These use Uniswap V4 pools people can trade. This launch has three setups: one two-token pool, three pools that share one pot, and a weighted set of pools. Diagrams below.
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Old /research links still work. They open the same chapters.