Yield Contract Factory

Contract: PendleYieldContractFactoryUpg

The factory is the canonical registry for all Pendle PT/YT pairs. It deploys new yield contracts and tracks existing ones.

createYieldContract

/**
 * @notice Create a pair of (PT, YT) from any SY and valid expiry.
 * Anyone can create a yield contract.
 */
function createYieldContract(
    address SY,
    uint32 expiry,
    bool doCacheIndexSameBlock
) external returns (address PT, address YT);

Parameters:

• SY — Address of the Standardized Yield token to tokenize.
• expiry — Unix timestamp for the PT/YT expiry. Must be in the future and divisible by expiryDivisor (e.g., 86400 enforces day-boundary expirations).
• doCacheIndexSameBlock — If true, the PY index updates at most once per block (gas optimization). This trades a small amount of real-time precision for reduced write costs on high-frequency blocks.

Notes:

• Anyone can call this — yield contract creation is permissionless.
• Reverts if the (SY, expiry) pair already exists (YCFactoryYieldContractExisted).
• Reverts if expiry is in the past or not divisible by expiryDivisor (YCFactoryInvalidExpiry).

Query Functions

// Look up existing PT/YT addresses for a given SY and expiry
function getPT(address sy, uint256 expiry) external view returns (address);
function getYT(address sy, uint256 expiry) external view returns (address);

// Validate whether an address is a Pendle-deployed PT or YT
function isPT(address token) external view returns (bool);
function isYT(address token) external view returns (bool);

Usage: Before creating a yield contract, call getPT(sy, expiry) — if it returns a non-zero address, the pair already exists and you should use that address directly.

VERSION

function VERSION() external view returns (uint256);

Returns the version number of the factory contract.

Protocol Fee Parameters

These are set by the factory owner and applied to all yield contracts at redemption time:

// Fraction of YT interest sent to treasury (max 20%, 1e18 = 100%)
function interestFeeRate() external view returns (uint256);

// Fraction of external reward tokens sent to treasury (max 20%, 1e18 = 100%)
function rewardFeeRate() external view returns (uint256);

These are read-only from an integrator's perspective; they are deducted automatically on redeemDueInterestAndRewards calls.