Why use Wreath?
Wreath Finance introduces a permissionless, composable, and liquid way to issue and trade on-chain bonds. At its core, Wreath replaces fragmented OTC deals, private token sales, and illiquid vesting contracts with a unified framework that creates synthetic bond markets around synthetic implied value. Whether you're a token issuer/founder, a contributor, or a trader — Wreath gives you more control, more clarity, and more opportunity.
For Issuers: A Market, Not a Sale
If you're a protocol, founder, DAO, or treasury manager holding tokens and looking to raise capital, (or get quick liquidity) your options in the traditional crypto landscape are limited. OTC deals are private, illiquid, and often opaque. Launchpads and presales require liquidity provisioning, vesting management, and often drive volatility.
By locking your tokens into a Wreath bond, you create a synthetic bond market. You define the terms — maturity, total token amount, and funding target. The protocol mints a fixed supply of bond tokens (bTOKEN) and deposits them into a Uniswap V3 liquidity pool. Contributors add ETH or USDC to the pool, determining pricing dynamically through concentrated liquidity mechanics. There’s no need to front liquidity, manage vesting contracts, or trust counterparties.
With Wreath, you receive all the contributed ETH or USDC up front. The bond tokens remain tradable, liquid, and redeemable after maturity — creating a transparent, non-extractive path to raise capital.
For Contributors: Discounted Access, Defined Terms
Contributing to a bond on Wreath means gaining access to tokens at a discount — not through closed rounds or allocation requests, but through an open onchain market. As a contributor, you’re not relying on teams to manually deliver tokens later — the contract handles redemption based on fixed maturity logic.
When you contribute to a bond, your ETH or USDC helps establish the market price for the bond tokens (bTOKEN). You receive ERC-20 LP share tokens that represent your proportional stake in the Uniswap pool holding the bTOKEN. When the bond matures, those bTOKENs become redeemable 1:1 for the underlying asset.
Wreath offers:
Transparent terms: you know exactly what you’re getting and when.
Built-in secondary market:
bTOKENcan be traded directly via Uniswap.Optionality: you can hold through maturity or exit earlier if market conditions change.
There are no cliffs, no surprise unlocks, and no need to wait on team distribution — just clean, on-chain redemption.
For Traders: An Abstract Pricing Surface
Bond tokens (bTOKEN) behave like zero-coupon synthetic bonds — trading below redemption value early, and converging to their full value as maturity approaches.
If the underlying token gains momentum during the bond period, bTOKEN's intrinsic value rises in parallel. If sentiment shifts, traders can acquire bTOKEN at a discount and redeem for profit. Pricing is transparent, driven by concentrated liquidity within UNI v3, and visible to all participants.
For traders, Wreath unlocks:
Price dislocation plays (e.g.
bTOKENtrading below redemption value)Event-driven speculation (e.g. bonding into governance tokens pre-launch)
Liquidity farming via LP share accumulation
It’s a dynamic system where the time value of assets is tradable.
Why Wreath Over OTC?
Price Discovery
Private negotiation
Market-based via Uniswap V3
Transferability
Typically illiquid
Fully tradable bond tokens
Redemption
Manual or custodial
Permissionless, on-chain
Liquidity
None or dependent on team
Built-in via Uniswap
Transparency
Off-chain deals
100% on-chain & auditable
Risk
Counterparty & legal risk
Smart contract-enforced
Wreath Aligns Everyone
Issuers get a capital-efficient way to raise funds without immediate sell pressure or loss of control.
Contributors gain access to discounted tokens with clearly defined terms and on-chain redemption.
Traders interact with a new class of DeFi-native structured assets — synthetic, liquid, and composable.
Wreath brings synthetic zero-coupon bonds onchain — and turns time itself into a tradable primitive.
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