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Cleave Liquidity

Stage 1 of 5: Yield you can trade. Lock it in, or trade it.

00 / YIELD TRADING

Yield you can trade.Lock it in, or trade it.

Yield isn't just something you earn. Pick a live market, then lock a quoted yield or trade where it's heading. Live on Robinhood Chain.

UNDERLYING
Paxos USDG
IMPLIED APY
6.42%
SETTLEMENT
Zero Liquidation
01 — HOW YIELD SPLITS

One asset.
Two ways to trade its yield.

A yield-bearing asset in a lending vault earns a rate that changes daily. Split it in two: one side targets a quoted yield to maturity, the other follows the rate.

Timeline:
DATE: 02 Oct 2026
REMAINING: 175d
PT VALUE: —
STREAMED: —
TODAYNOVDECJANFEBMARMATURITY26 MAR 2027LENDING VAULTLending vaultUNDERLYING APY—COLLATERAL1.00 FIXED YIELD · APY 6.42%PT → 1.00 PAYS 1 : 1IN TRADING YIELD · FOLLOWS THE RATE+0% STREAMEDYIELD PAID OUTENDS AT ZERO02 OCT 2026 · 175D LEFT
Fixed Yield
—
Targets 1 at maturity, bought below 1 today. The gap is your quoted yield. No liquidation.
QUOTED APY: 6.42%MATURES: 1.00
Trading Yield
+0% paid
Follows the yield as it accrues, then expires at maturity. Gains above break-even; can lose value below it.
CLAIMED: —EXPOSURE: —
The split always adds up1 PT + 1 YT = 1 ACTIVE SPLIT · NO PROTOCOL DEBT
02 — INTERACTIVE SIMULATOR

Live market data is unavailable right now. Browse Markets to choose a current yield market.

Browse Markets →
03 — MARKETS

Every market has
a real yield source.

LOADING MARKETSAll markets
ASSETYIELD SOURCEIMPLIED APYRATE NOWMATURESLIQUIDITYSTATUS
Loading markets…

Implied APY is the rate the market prices today, before price impact. Rate now is the underlying's current variable rate.

04 — OPEN A POSITION

Same market.
Pick how to trade it.

Fixed Yield locks a quoted outcome toward maturity. Trading Yield gives you exposure to future yield — with the risk shown before you commit.

Step 1 of 3: Choose your strategy

APPROVE TOKEN → CONFIRM → POSITION OPENED
05 — LIVE PORTFOLIO SIMULATION

Watch both paths
arrive at maturity.

Simulating two open positions on Day 57 of 175. Track real-time value accrual and streaming interest yield.

ORIGIN: 02 OCT 2026
CURRENT: DAY 57 · 118 DAYS LEFT (32.6%)
MATURITY: 26 MAR 2027
Position MintedAccruing Value1:1 Settlement
Fixed Yield · USDG
QUOTED 6.38% APY
Invested$1,000.00
Current Value$1,009.56+0.96%
At Maturity$1,030.08+3.01% Net
Token balance: 1,030.08 PT-USDG steadily appreciating toward 1.00 USDG.
Sell Early →
Trading Yield · USDG
RATE NOW: 7.10%
Cost Paid$100.00
Remaining Value$67.74Falls to $0 at maturity
Yield Streamed$36.63Claimable
Streaming rate: ~0.64 USDG/day from $1,690 underlying Morpho lending vault.
Sell Early →
Ready to trade

Choose how you
trade yield.

Lock a quoted yield or trade where it's heading — all in one asset, live on Robinhood Chain.

Sample data shown throughout. Built on Robinhood Chain.

CLEAVEIndependent app on Robinhood Chain. Not affiliated with Robinhood Markets.