Spectra Finance
AuditedVerifiedSpectra is a permissionless interest rate derivatives protocol that splits yield-bearing assets into Principal Tokens (fixed yield) and Yield Tokens (variable yield exposure), traded on a Curve-style AMM. It is the rebranded continuation of APWine, with governance migrated to Base.
Active Risk Alerts
Live signals detected by Sentinel monitors across all five risk classes.
Unlock alert details with Pro
See each alert's affected component, root-cause analysis, and recommended action. Pro members get the full risk breakdown for every protocol.
Score history
This rating is re-checked every month. A point is recorded for every check, so a flat line means we looked and nothing moved. Hover anywhere on the chart to see what moved that month, and by how much.
The Problem
DeFi yields are volatile and unpredictable; locking in fixed rates or hedging yield exposure requires bespoke infrastructure that is dominated by a single major protocol (Pendle).
The Solution
Spectra tokenizes ERC-4626 yield-bearing assets into Principal Tokens (fixed yield) and Yield Tokens (variable yield exposure), trading them on Curve-style AMM pools. Pool creation is fully permissionless and the protocol supports 12+ chains.
Why it Matters
Permissionless PT/YT pool creation (no gatekeeping), Curve-based AMM leveraging Curve's audited infrastructure, ve(3,3) governance via veSPECTRA, and MetaVaults for cross-chain curated yield strategies. Roughly 3% the size of Pendle but offers wider chain coverage on emerging networks (Flare, Hemi, HyperEVM, Katana, Monad).
Protocol Metrics
Related Research
View allFrequently asked questions about Spectra Finance
What is Spectra Finance?+
Spectra Finance is a Yield protocol operating on Ethereum, Base, Arbitrum, Optimism, BSC, Avalanche, Sonic, Hemi, Flare, Katana, HyperEVM, Monad. Spectra is a permissionless interest rate derivatives protocol that splits yield-bearing assets into Principal Tokens (fixed yield) and Yield Tokens (variable yield exposure), traded on a Curve-style AMM. It is the rebranded continuation of APWine, with governance migrated to Base.
How does Spectra Finance work?+
Spectra tokenizes ERC-4626 yield-bearing assets into Principal Tokens (fixed yield) and Yield Tokens (variable yield exposure), trading them on Curve-style AMM pools. Pool creation is fully permissionless and the protocol supports 12+ chains.
Is Spectra Finance safe?+
DeFi Sentinel rates Spectra Finance A with a safety score of 74/100, indicating low-to-moderate risk. The score reflects five risk dimensions: smart contract & technical risk, economic design & market risk, governance & centralization, sustainability & competitive position, and reputation & social trust. Spectra Finance has 4 audits on record. DeFi Sentinel's analysis flagged 3 high, 4 medium, 3 low risk alerts across Smart Contract & Technical Risk, Economic Design & Market Risk, Governance & Centralization, Sustainability & Competitive Position and Reputation & Social Trust. As with all DeFi protocols, residual risk remains and users should review the full risk breakdown before depositing.
What is the safety score of Spectra Finance?+
Spectra Finance has a DeFi Sentinel safety score of 74/100 (rating A), last updated September 16, 2026. The score is computed across smart contract & technical risk (30%), economic design & market risk (25%), governance & centralization (20%), sustainability & competitive position (15%), and reputation & social trust (10%).
Which chains does Spectra Finance support?+
Spectra Finance is deployed on Ethereum, Base, Arbitrum, Optimism, BSC, Avalanche, Sonic, Hemi, Flare, Katana, HyperEVM, Monad.
Has Spectra Finance been audited?+
Yes. Spectra Finance has 4 audit reports on record from firms including Code4rena, Pashov Audit Group, Pashov Audit Group. Audit reports and dates are linked under the Resources tab on this page.
Similar rated protocols
- Pendle FinanceAAA · 93
- Arrakis FinanceAA · 89
- Yearn FinanceAA · 86
- BeefyAA · 84
- AUTOfinanceAA · 84
- SuperformAA · 84