Coupon Tokens

Coupon Tokens (CTs) have the right to yield generated from the rehypothecated reserves of FW (see Rehypothecation). Additionally, these Coupon Tokens are tradable via fixed-rate markets as they are decomposed from FW tokens (see Fira Wrapped Tokens). In the following sections, we explain how the yield generated from rehypothecation is distributed to CT holders and how the market prices CT as it is tradable in fixed-rate markets while the cash-flow is generated from floating rate markets.