Fixed income is where DeFi has to mature from speculative liquidity into predictable cash-flow markets. A useful fixed-income product needs more than yield: it needs maturity, duration, seniority, collateral rules, default handling, valuation, and a clear answer to who absorbs losses.
Questions
- Is the product actually fixed rate, or is it variable yield wrapped in fixed-rate language?
- What is the source of repayment, and what evidence supports it?
- How are maturity, prepayment, liquidation, and default handled?
- Can the cash flow be priced independently from the token incentive layer?
- What risk report would make the product understandable to a non-crypto allocator?
Public Notes To Build From
Editorial Direction
The public goal is a fixed-income lens for DeFi builders: term structure, duration, credit, and cash-flow certainty. Keep the certification-style notes private unless they are converted into examples that explain an actual protocol or product decision.