Time Based Tokens (TBTs)
The Incentive of Time Travel
TBTs (Time-Based Tokens) represent the time value of money for any digital asset.
When people stake into a Time Vault Strategy, Time-Based Tokens are minted. Each individual Time Vault Strategy has a uniquely assigned TBT.
Example: Staking USDC into Aave v2 Time Vault Strategy mints the fUSDC TBT
Example: Staking stETH into the Lido Time Vault Strategy mints the fstETH TBT
Example: Staking ETH/DAI LP into the Uniswap Time Vault mints the ETH/DAI TBT
A TBT is an ERC-20 token, created by the Light Protocol whenever a new strategy is registered. TBTs are specific to a given strategy and represent the yield pool. This means 100% of the total TBT supply can be redeemed for 100% of the total yield in the yield pool in a given strategy.
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