DeFi's fixed rate protocol

Element is an open source protocol for fixed and variable yield markets


Grow your savings

Grow your savings at a fixed rate via Principal Tokens (PT). PTs are "on sale" versions of popular crypto-assets that you buy and hold for a set term then redeem for full value at end of the term. PTs have no minimums and no penalties. You can trade your PT back for its base asset at any time. Currently supported base assets: crvLUSD, crvTriCrypto.

How it works
  1. Pick your PT by asset, term length, and APR
  2. Purchase PT at a discount
  3. Redeem for the full price at term length
  4. (Optional) Sell your PT back at any time

Repurpose principal

Separate yield generating positions like Yearn vaults in two distinct tokens: yield and principal.

Gain capital efficiency by freeing your principal and selling it. Utilize this mechanism to leverage your yield further.

Provide liquidity on your yield and principal tokens to earn additional APY 🦧


    Trade yield

    Buy and sell yield and principal tokens. You can trade these tokens on custom AMMs called Element pools.


    Build on Element

    Develop new DeFi products with the Element SDK.


    Backed by


    Will Villanueva
    Chief Executive Officer
    Jonny Rhea
    Chief Technology Officer
    Charles St.Louis
    Chief Operating Officer
    Windra Thio
    Growth & Strategy
    Danny Delott
    Lead Front-End Engineer
    Matt Brown
    Full-Stack Engineer
    Nicholas Evans
    Senior Solidity Engineer
    Paul Vienhage
    Lead Solidity Engineer
    Sarah Mackey
    Solidity Engineer
    Tina Hai
    Lead Product Designer
    Sebastian Aldasoro
    Content and Community Lead


    Fernando Martinelli
    Founder & CEO @ Balancer Labs
    Mariano Conti
    Former Head of Smart
    Contracts@ Maker Foundation
    Andy Chorlian
    Former Smart Contracts
    Engineer @ Maker Foundation
    Evan Van Ness
    Week in Ethereum News
    Eric Conner
    Co-founder @ EthHub | Into the
    Ether Podcast
    Danny Ryan
    Ethereum Foundation: Eth 2 R&D
    Joseph Delong
    CTO of Sushi Swap