Time, rather than simple token release, is the true source of returns.

Traditional DeFi yields are volatile, noisy, difficult to predict and manage. The problem lies in the lack of a structured design with a time dimension.

By separating the principal from the yield portion, the properties of returns can be reshaped:

✦ Fixed yield rates become possible — no longer variable, but a lockable and predictable expectation

✦ Cash flow has a clear maturity date — investors know when they will receive their returns, making psychological expectations clearer

✦ Maturity risk becomes measurable and tradable — short-term and long-term risks are no longer mixed, allowing investors to hedge or allocate precisely

This design essentially transforms DeFi yields from vague "launches" into precise "time locks," shifting investment decisions from intuition to rationality.