Project Overview

Pulse Overview

Pulse is a yield trading protocol built on Cardano. It turns any yield-bearing asset, such as strikeADA from Strike Finance, into a new type of token that users can trade, split, or combine to manage yield in more flexible ways. Pulse gives people full control over their DeFi income. Instead of simply holding a token and waiting for rewards, users can sell future yield for instant profit, buy discounted tokens for fixed returns, or provide liquidity to earn fees from others trading yield.

The protocol is built by Christian Schmitz, a well-known and respected auditor in the Cardano ecosystem. His background in smart contract auditing and protocol design ensures that Pulse is developed with strong security standards, transparent architecture, and reliable on-chain execution.

The process starts by standardizing your yield token into SY form so Pulse can recognize and use it across the system. From there, users can split SY into two parts: the Principal Token (PT), which represents the base value that will be redeemable at maturity, and the Yield Token (YT), which represents the future yield that token will earn. Once split, users can trade or hold either part based on their goals. Selling YT gives you your future yield upfront. Buying YT lets you speculate on yield performance. Buying PT allows you to lock in fixed income at a discount, while selling PT lets you free up funds early.

Pulse also allows users to combine SY and PT to create LP tokens and earn trading fees from others using the market. Liquidity providers make the system more efficient while earning rewards for helping others trade PTs and YTs. At any time, users can merge PT and YT back into SY, then unwrap SY to return to their original token and withdraw.

Pulse matters because it adds liquidity to yield itself. It lets users choose between fixed or variable yield options, enabling both safe and speculative strategies. It is built to work with many Cardano protocols, creating a shared marketplace for yield that helps establish a real on-chain interest rate system.

For example, a Strike user deposits 100 ADA earning 50% APY. They standardize it into SY, split it into PT and YT, and sell the YT for 40 ADA upfront while holding PT to redeem for 100 ADA at maturity. In total, they receive 140 ADA, gaining early access to part of their future yield.

Pulse is building Cardano’s yield marketplace where every DeFi position can be traded, hedged, or optimized. By unlocking liquidity in time-locked yield, it creates new ways for users and institutions to earn, trade, and manage risk directly on-chain. More information can be found in our litepaper.