{
  "tool_id": "art-273-pendle-yield",
  "note": "art-273-pendle-yield fixture vectors. ZERO PII.",
  "vectors": [
    {
      "name": "empty_input_finite",
      "description": "empty input finite — computed output_payload.",
      "policy_parameters": {},
      "output_payload": {
        "pt_price": 0.94,
        "yt_price": 0.06,
        "pt_yt_sum": 1,
        "invariant_holds": true,
        "days_to_maturity": 180,
        "years_to_maturity": 0.4932,
        "underlying_apy_pct": 12,
        "pt_discount_pct": 6,
        "pt_return_to_maturity_pct": 6.383,
        "pt_simple_apr_pct": 12.9433,
        "pt_implied_fixed_yield_pct": 13.3681,
        "yt_leverage": 16.6667,
        "yt_levered_apy_pct": 200.0004,
        "yt_break_even_apy_pct": 12.1667,
        "yt_profitable_at_current": false,
        "yt_margin_of_safety_pct": -0.1667,
        "investment_usd": 10000,
        "pt_units_bought": 10638.2979,
        "pt_profit_at_maturity_usd": 638.3,
        "yt_units_bought": 166666.6667,
        "yt_payout_if_underlying_stable_usd": 9863.01,
        "yt_net_pnl_if_underlying_stable_usd": -136.99,
        "table_version": "PENDLE-YIELD-DECOMPOSITION-2024",
        "table_source": "Pendle Finance documentation 2024 (PT/YT mechanics, v2 AMM); Pendle v2 whitepaper. PT implied yield: (1/pt_price)^(365/days) - 1. YT break-even: yt_price / years_to_maturity. Deterministic pow via fdlibm port (_detmath). Not live price data.",
        "regulatory_basis": "Pendle Finance operates as a decentralized yield-tokenization protocol. PT and YT are experimental DeFi instruments; they are unregulated in most jurisdictions. This model uses entered market prices and does not reflect live AMM state.",
        "pii_note": "ZERO PII: market prices and yield inputs only. No wallet address, LP position, or personal data enters this kernel.",
        "not_financial_advice": "Not financial or investment advice. PT and YT prices change continuously with AMM trading. Underlying yields are variable; YT carries total loss risk if underlying yield drops to zero. For informational purposes only."
      },
      "golden_hash": "f6cae5e79cbef46bc10a2a85bdb20f0066bcde97570307737ef08413fa4a8025"
    },
    {
      "name": "pendle_susde_180d_12pct",
      "description": "pendle susde 180d 12pct — computed output_payload.",
      "policy_parameters": {
        "pt_price": 0.94,
        "yt_price": 0.06,
        "days_to_maturity": 180,
        "underlying_apy_pct": 12,
        "investment_usd": 10000
      },
      "output_payload": {
        "pt_price": 0.94,
        "yt_price": 0.06,
        "pt_yt_sum": 1,
        "invariant_holds": true,
        "days_to_maturity": 180,
        "years_to_maturity": 0.4932,
        "underlying_apy_pct": 12,
        "pt_discount_pct": 6,
        "pt_return_to_maturity_pct": 6.383,
        "pt_simple_apr_pct": 12.9433,
        "pt_implied_fixed_yield_pct": 13.3681,
        "yt_leverage": 16.6667,
        "yt_levered_apy_pct": 200.0004,
        "yt_break_even_apy_pct": 12.1667,
        "yt_profitable_at_current": false,
        "yt_margin_of_safety_pct": -0.1667,
        "investment_usd": 10000,
        "pt_units_bought": 10638.2979,
        "pt_profit_at_maturity_usd": 638.3,
        "yt_units_bought": 166666.6667,
        "yt_payout_if_underlying_stable_usd": 9863.01,
        "yt_net_pnl_if_underlying_stable_usd": -136.99,
        "table_version": "PENDLE-YIELD-DECOMPOSITION-2024",
        "table_source": "Pendle Finance documentation 2024 (PT/YT mechanics, v2 AMM); Pendle v2 whitepaper. PT implied yield: (1/pt_price)^(365/days) - 1. YT break-even: yt_price / years_to_maturity. Deterministic pow via fdlibm port (_detmath). Not live price data.",
        "regulatory_basis": "Pendle Finance operates as a decentralized yield-tokenization protocol. PT and YT are experimental DeFi instruments; they are unregulated in most jurisdictions. This model uses entered market prices and does not reflect live AMM state.",
        "pii_note": "ZERO PII: market prices and yield inputs only. No wallet address, LP position, or personal data enters this kernel.",
        "not_financial_advice": "Not financial or investment advice. PT and YT prices change continuously with AMM trading. Underlying yields are variable; YT carries total loss risk if underlying yield drops to zero. For informational purposes only."
      },
      "golden_hash": "75e5293bf2628b54aa76b041b419e3c16f4fc4238169852c49830a76b7d7dc9e"
    },
    {
      "name": "pendle_ezeth_90d_5pct",
      "description": "pendle ezeth 90d 5pct — computed output_payload.",
      "policy_parameters": {
        "pt_price": 0.9875,
        "yt_price": 0.0125,
        "days_to_maturity": 90,
        "underlying_apy_pct": 5,
        "investment_usd": 50000
      },
      "output_payload": {
        "pt_price": 0.9875,
        "yt_price": 0.0125,
        "pt_yt_sum": 1,
        "invariant_holds": true,
        "days_to_maturity": 90,
        "years_to_maturity": 0.2466,
        "underlying_apy_pct": 5,
        "pt_discount_pct": 1.25,
        "pt_return_to_maturity_pct": 1.2658,
        "pt_simple_apr_pct": 5.1335,
        "pt_implied_fixed_yield_pct": 5.2338,
        "yt_leverage": 80,
        "yt_levered_apy_pct": 400,
        "yt_break_even_apy_pct": 5.0694,
        "yt_profitable_at_current": false,
        "yt_margin_of_safety_pct": -0.0694,
        "investment_usd": 50000,
        "pt_units_bought": 50632.9114,
        "pt_profit_at_maturity_usd": 632.91,
        "yt_units_bought": 4000000,
        "yt_payout_if_underlying_stable_usd": 49315.07,
        "yt_net_pnl_if_underlying_stable_usd": -684.93,
        "table_version": "PENDLE-YIELD-DECOMPOSITION-2024",
        "table_source": "Pendle Finance documentation 2024 (PT/YT mechanics, v2 AMM); Pendle v2 whitepaper. PT implied yield: (1/pt_price)^(365/days) - 1. YT break-even: yt_price / years_to_maturity. Deterministic pow via fdlibm port (_detmath). Not live price data.",
        "regulatory_basis": "Pendle Finance operates as a decentralized yield-tokenization protocol. PT and YT are experimental DeFi instruments; they are unregulated in most jurisdictions. This model uses entered market prices and does not reflect live AMM state.",
        "pii_note": "ZERO PII: market prices and yield inputs only. No wallet address, LP position, or personal data enters this kernel.",
        "not_financial_advice": "Not financial or investment advice. PT and YT prices change continuously with AMM trading. Underlying yields are variable; YT carries total loss risk if underlying yield drops to zero. For informational purposes only."
      },
      "golden_hash": "cf01723245e3c828ca3e06babdae17187ca574298ddcffdd3545f0fca3c7fd0f"
    },
    {
      "name": "pendle_aave_365d_8pct",
      "description": "pendle aave 365d 8pct — computed output_payload.",
      "policy_parameters": {
        "pt_price": 0.9231,
        "yt_price": 0.0769,
        "days_to_maturity": 365,
        "underlying_apy_pct": 8,
        "investment_usd": 25000
      },
      "output_payload": {
        "pt_price": 0.9231,
        "yt_price": 0.0769,
        "pt_yt_sum": 1,
        "invariant_holds": true,
        "days_to_maturity": 365,
        "years_to_maturity": 1,
        "underlying_apy_pct": 8,
        "pt_discount_pct": 7.69,
        "pt_return_to_maturity_pct": 8.3306,
        "pt_simple_apr_pct": 8.3306,
        "pt_implied_fixed_yield_pct": 8.3306,
        "yt_leverage": 13.0039,
        "yt_levered_apy_pct": 104.0312,
        "yt_break_even_apy_pct": 7.69,
        "yt_profitable_at_current": true,
        "yt_margin_of_safety_pct": 0.31,
        "investment_usd": 25000,
        "pt_units_bought": 27082.6563,
        "pt_profit_at_maturity_usd": 2082.66,
        "yt_units_bought": 325097.5293,
        "yt_payout_if_underlying_stable_usd": 26007.8,
        "yt_net_pnl_if_underlying_stable_usd": 1007.8,
        "table_version": "PENDLE-YIELD-DECOMPOSITION-2024",
        "table_source": "Pendle Finance documentation 2024 (PT/YT mechanics, v2 AMM); Pendle v2 whitepaper. PT implied yield: (1/pt_price)^(365/days) - 1. YT break-even: yt_price / years_to_maturity. Deterministic pow via fdlibm port (_detmath). Not live price data.",
        "regulatory_basis": "Pendle Finance operates as a decentralized yield-tokenization protocol. PT and YT are experimental DeFi instruments; they are unregulated in most jurisdictions. This model uses entered market prices and does not reflect live AMM state.",
        "pii_note": "ZERO PII: market prices and yield inputs only. No wallet address, LP position, or personal data enters this kernel.",
        "not_financial_advice": "Not financial or investment advice. PT and YT prices change continuously with AMM trading. Underlying yields are variable; YT carries total loss risk if underlying yield drops to zero. For informational purposes only."
      },
      "golden_hash": "dca9f2ae609b6e418ae80e3eefa5805d2a7cc8015780a9eb15e97a7e572fbac4"
    }
  ]
}