# Deployment **Network:** Ethereum Mainnet\ **Initial Deployment:** March 13–15, 2026\ **Bond Token Expiries:** May 7, 2026 · May 27, 2026 *** ## External tokens | Token | Symbol | Decimals | Address | | ------------------------ | -------- | -------- | ----------------------------------------------------------------------------------------------------------------------- | | USDC | USDC | 6 | [`0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48`](https://etherscan.io/address/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48) | | Wrapped stETH | wstETH | 18 | [`0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0`](https://etherscan.io/address/0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0) | | Coinbase Wrapped BTC | cbBTC | 8 | [`0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf`](https://etherscan.io/address/0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf) | | PT Ethena USDe 7MAY2026 | PT-USDe | 18 | [`0xAeBf0Bb9f57E89260d57f31AF34eB58657d96Ce0`](https://etherscan.io/address/0xAeBf0Bb9f57E89260d57f31AF34eB58657d96Ce0) | | PT Ethena sUSDe 7MAY2026 | PT-sUSDe | 18 | [`0x3de0ff76E8b528C092d47b9DaC775931cef80F49`](https://etherscan.io/address/0x3de0ff76E8b528C092d47b9DaC775931cef80F49) | | PT Paxos USDG 27MAY2026 | PT-USDG | 18 | [`0x9db38D74a0D29380899aD354121DfB521aDb0548`](https://etherscan.io/address/0x9db38D74a0D29380899aD354121DfB521aDb0548) | ## Fira tokens | Token | Symbol | Decimals | Address | | ----------------------------- | ------- | -------- | ----------------------------------------------------------------------------------------------------------------------- | | Fira Wrapped USDC | FW-USDC | 18 | [`0x62F5366C9E21A95326C461a098a408e034e017b3`](https://etherscan.io/address/0x62F5366C9E21A95326C461a098a408e034e017b3) | | Bond Token | BT | 6 | [`0x57FFbb88f0c69283531a751BE6FF0741348371bA`](https://etherscan.io/address/0x57FFbb88f0c69283531a751BE6FF0741348371bA) | | Coupon Token | CT | 6 | [`0x93635d34fAd5A9fA7065a645691100b2E23C93cd`](https://etherscan.io/address/0x93635d34fAd5A9fA7065a645691100b2E23C93cd) | | Markov USDC Prime (SisuVault) | mkUSDC | 18 | [`0x50791a5cA041b9D6Dd03e64E3Fa0e34a376759AC`](https://etherscan.io/address/0x50791a5cA041b9D6Dd03e64E3Fa0e34a376759AC) | ### May 27, 2026 Expiry | Token | Symbol | Decimals | Address | | -------------------- | ------ | -------- | ----------------------------------------------------------------------------------------------------------------------- | | Bond Token (27MAY) | BT | 6 | [`0x88dd7069cb9d8b7cc6eebd23b82ed1e9a75d9734`](https://etherscan.io/address/0x88dd7069cb9d8b7cc6eebd23b82ed1e9a75d9734) | | Coupon Token (27MAY) | CT | 6 | [`0x17eA07Eb87bf7B091070999a0D313556D4ac580B`](https://etherscan.io/address/0x17eA07Eb87bf7B091070999a0D313556D4ac580B) | BT and CT are minted/burned in pairs via the YieldContractFactory. Multiple expiry series can coexist. ## Core protocol contracts | Contract | Address | Description | | --------------------- | ----------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------- | | FiraRouterV4 | [`0xFF615E63aAF2d1B1EE4AdFD34a5840747185d8A0`](https://etherscan.io/address/0xFF615E63aAF2d1B1EE4AdFD34a5840747185d8A0) | Main entry point for all user operations | | USDCFW (FW) | [`0x62F5366C9E21A95326C461a098a408e034e017b3`](https://etherscan.io/address/0x62F5366C9E21A95326C461a098a408e034e017b3) | Wrapped Standardized Yield token for USDC | | SisuVault | [`0x50791a5cA041b9D6Dd03e64E3Fa0e34a376759AC`](https://etherscan.io/address/0x50791a5cA041b9D6Dd03e64E3Fa0e34a376759AC) | ERC-4626 vault aggregating yield across markets | | LiquidityInjector | [`0x2104f638a839Ca7260180d9Ee7f4865C92Df4cE5`](https://etherscan.io/address/0x2104f638a839Ca7260180d9Ee7f4865C92Df4cE5) | Sole BT supplier to fixed-rate markets | | RehypothecationModule | [`0xad332515d9c82438BBa0e9FAA9486B52A33a7Ac8`](https://etherscan.io/address/0xad332515d9c82438BBa0e9FAA9486B52A33a7Ac8) | Controls phi ratios for rebalancing | | YieldContractFactory | [`0xcdB83Abb9121c04589567A4106C3cFaf65DB68Be`](https://etherscan.io/address/0xcdB83Abb9121c04589567A4106C3cFaf65DB68Be) | Deploys BT/CT pairs | | FiraMarketFactory | [`0xBF1EfC2199ae9EE1B6f5060a45D4440157E49744`](https://etherscan.io/address/0xBF1EfC2199ae9EE1B6f5060a45D4440157E49744) | Deploys AMM markets | | BCLpOracle | [`0xfEAAEC9124FB007d7c44Ed704A08d24b264de921`](https://etherscan.io/address/0xfEAAEC9124FB007d7c44Ed704A08d24b264de921) | Oracle for BC/LP pricing | | AdaptiveCurveIrm | [`0x73C288826347af3718e6F09c2A24AaFDA77684cD`](https://etherscan.io/address/0x73C288826347af3718e6F09c2A24AaFDA77684cD) | Interest rate model for variable-rate markets | | FIRA Yield Treasury | [`0x97fD565B913b439Ff16774Da152B1f71F05A82F1`](https://etherscan.io/address/0x97fD565B913b439Ff16774Da152B1f71F05A82F1) | Fee recipient | ## Lending markets | Contract | Address | Description | | --------------------- | ----------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------- | | VariableLendingMarket | [`0xc8Db629192a96D6840e88a8451F17655880A2e4D`](https://etherscan.io/address/0xc8Db629192a96D6840e88a8451F17655880A2e4D) | Variable-rate lending (wstETH, cbBTC collateral) | | FiraLendingMarket | [`0x280ddD897F39C33fEf1CbF863B386Cb9a8e53a0e`](https://etherscan.io/address/0x280ddD897F39C33fEf1CbF863B386Cb9a8e53a0e) | Fixed-rate lending (PT collateral, BT loan token) | ## AMM markets ### FiraMarket — May 7, 2026 | Field | Value | | ------------- | ----------------------------------------------------------------------------------------------------------------------- | | FiraMarket | [`0xde00b5edb255078dd42ee94fd97f473d1c9c055d`](https://etherscan.io/address/0xde00b5edb255078dd42ee94fd97f473d1c9c055d) | | BT | [`0x57FFbb88f0c69283531a751BE6FF0741348371bA`](https://etherscan.io/address/0x57FFbb88f0c69283531a751BE6FF0741348371bA) | | FW | [`0x62F5366C9E21A95326C461a098a408e034e017b3`](https://etherscan.io/address/0x62F5366C9E21A95326C461a098a408e034e017b3) | | Expiry | May 7, 2026 (`1778112000`) | | scalarRoot | `102406700000000000000` | | initialAnchor | `1008276800000000000` | | lnFeeRateRoot | `2996000000000000` | ### FiraMarket — May 27, 2026 | Field | Value | | ---------- | ----------------------------------------------------------------------------------------------------------------------- | | FiraMarket | [`0x7083cfc87e7f6ebb858cc39b72d9c7605d368729`](https://etherscan.io/address/0x7083cfc87e7f6ebb858cc39b72d9c7605d368729) | | BT | [`0x88dd7069cb9d8b7cc6eebd23b82ed1e9a75d9734`](https://etherscan.io/address/0x88dd7069cb9d8b7cc6eebd23b82ed1e9a75d9734) | | FW | [`0x62F5366C9E21A95326C461a098a408e034e017b3`](https://etherscan.io/address/0x62F5366C9E21A95326C461a098a408e034e017b3) | | Expiry | May 27, 2026 | ## Variable-rate markets ### wstETH / USDC | Field | Value | | ---------------- | -------------------------------------------------------------------------------------------------------------------------------------------- | | Lending Market | [`0xc8Db629192a96D6840e88a8451F17655880A2e4D`](https://etherscan.io/address/0xc8Db629192a96D6840e88a8451F17655880A2e4D) | | Market ID | `0xB3152AC00687CC9502B78AB452956F85CC89AC210DEEFDA5DBFF09F7F167B544` | | Loan Token | USDC ([`0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48`](https://etherscan.io/address/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48)) | | Collateral Token | wstETH ([`0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0`](https://etherscan.io/address/0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0)) | | Oracle | [`0x48F7E36EB6B826B2dF4B2E630B62Cd25e89E40e2`](https://etherscan.io/address/0x48F7E36EB6B826B2dF4B2E630B62Cd25e89E40e2) (Morpho wstETH/USDC) | | IRM | [`0x73C288826347af3718e6F09c2A24AaFDA77684cD`](https://etherscan.io/address/0x73C288826347af3718e6F09c2A24AaFDA77684cD) (AdaptiveCurveIrm) | | LTV | 87% | | LLTV | 89% | | Whitelist | None (permissionless) | ### cbBTC / USDC | Field | Value | | ---------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------ | | Lending Market | [`0xc8Db629192a96D6840e88a8451F17655880A2e4D`](https://etherscan.io/address/0xc8Db629192a96D6840e88a8451F17655880A2e4D) | | Market ID | `0x39D3BDD30BF4BCF4A4D3547F2484ABE1E30A2DCD41ED83788B40E2720357AB76` | | Loan Token | USDC ([`0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48`](https://etherscan.io/address/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48)) | | Collateral Token | cbBTC ([`0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf`](https://etherscan.io/address/0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf)) | | Oracle | [`0x698253A24CC4926090f841B38D31d6342A00a82C`](https://etherscan.io/address/0x698253A24CC4926090f841B38D31d6342A00a82C) (ChainlinkOracleV2 cbBTC/USDC) | | IRM | [`0x73C288826347af3718e6F09c2A24AaFDA77684cD`](https://etherscan.io/address/0x73C288826347af3718e6F09c2A24AaFDA77684cD) (AdaptiveCurveIrm) | | LTV | 88% | | LLTV | 90% | | Whitelist | None (permissionless) | ## Fixed-rate markets All fixed-rate markets use the FiraLendingMarket at [`0x280ddD897F39C33fEf1CbF863B386Cb9a8e53a0e`](https://etherscan.io/address/0x280ddD897F39C33fEf1CbF863B386Cb9a8e53a0e). BT is the loan token. Only the LiquidityInjector can supply BT (whitelist-gated). ### PT-USDG / BT (May 27 Expiry) | Field | Value | | --------------------- | -------------------------------------------------------------------------------------------------------------------------------------------- | | Loan Token | BT 27MAY ([`0x88dd7069cb9d8b7cc6eebd23b82ed1e9a75d9734`](https://etherscan.io/address/0x88dd7069cb9d8b7cc6eebd23b82ed1e9a75d9734)) | | Collateral Token | PT-USDG ([`0x9db38D74a0D29380899aD354121DfB521aDb0548`](https://etherscan.io/address/0x9db38D74a0D29380899aD354121DfB521aDb0548)) | | Oracle | [`0x90d0d6fdf9fe93777085e8b4baf3aab4285bac6b`](https://etherscan.io/address/0x90d0d6fdf9fe93777085e8b4baf3aab4285bac6b) (FiraSolvencyOracle) | | IRM | `0x0000000000000000000000000000000000000000` (none — fixed rate) | | LTV | 94% | | LLTV | 94.75% | | Whitelist | [`0x2104f638a839Ca7260180d9Ee7f4865C92Df4cE5`](https://etherscan.io/address/0x2104f638a839Ca7260180d9Ee7f4865C92Df4cE5) (LiquidityInjector) | | Maturity Grace Period | 86400 (24h) | | Liquidation Incentive | 1% | ### PT-USDe / BT | Field | Value | | --------------------- | -------------------------------------------------------------------------------------------------------------------------------------------- | | Loan Token | BT ([`0x57FFbb88f0c69283531a751BE6FF0741348371bA`](https://etherscan.io/address/0x57FFbb88f0c69283531a751BE6FF0741348371bA)) | | Collateral Token | PT-USDe ([`0xAeBf0Bb9f57E89260d57f31AF34eB58657d96Ce0`](https://etherscan.io/address/0xAeBf0Bb9f57E89260d57f31AF34eB58657d96Ce0)) | | Oracle | [`0xeB30b33A1aC175e0305853636D0eF3898eb530f3`](https://etherscan.io/address/0xeB30b33A1aC175e0305853636D0eF3898eb530f3) (FiraSolvencyOracle) | | IRM | `0x0000000000000000000000000000000000000000` (none — fixed rate) | | LTV | 89% | | LLTV | 90% | | Whitelist | [`0x2104f638a839Ca7260180d9Ee7f4865C92Df4cE5`](https://etherscan.io/address/0x2104f638a839Ca7260180d9Ee7f4865C92Df4cE5) (LiquidityInjector) | | Maturity Grace Period | 86400 (24h) | | Liquidation Incentive | 3.1% | | BT Liquidity | 350 BT supplied by LI | ### PT-sUSDe / BT | Field | Value | | --------------------- | -------------------------------------------------------------------------------------------------------------------------------------------- | | Loan Token | BT ([`0x57FFbb88f0c69283531a751BE6FF0741348371bA`](https://etherscan.io/address/0x57FFbb88f0c69283531a751BE6FF0741348371bA)) | | Collateral Token | PT-sUSDe ([`0x3de0ff76E8b528C092d47b9DaC775931cef80F49`](https://etherscan.io/address/0x3de0ff76E8b528C092d47b9DaC775931cef80F49)) | | Oracle | [`0xB9bAA3D58E1431776218F39919fd21AeD3e69aBb`](https://etherscan.io/address/0xB9bAA3D58E1431776218F39919fd21AeD3e69aBb) (FiraSolvencyOracle) | | IRM | `0x0000000000000000000000000000000000000000` (none — fixed rate) | | LTV | 89% | | LLTV | 90% | | Whitelist | [`0x2104f638a839Ca7260180d9Ee7f4865C92Df4cE5`](https://etherscan.io/address/0x2104f638a839Ca7260180d9Ee7f4865C92Df4cE5) (LiquidityInjector) | | Maturity Grace Period | 86400 (24h) | | Liquidation Incentive | 3.1% | | BT Liquidity | 350 BT supplied by LI | ## Oracle pipeline ### Variable-rate oracles | Market | Oracle | Type | | ----------- | ----------------------------------------------------------------------------------------------------------------------- | -------------------------------------------- | | wstETH/USDC | [`0x48F7E36EB6B826B2dF4B2E630B62Cd25e89E40e2`](https://etherscan.io/address/0x48F7E36EB6B826B2dF4B2E630B62Cd25e89E40e2) | Morpho v1 oracle (pre-deployed, reused) | | cbBTC/USDC | [`0x698253A24CC4926090f841B38D31d6342A00a82C`](https://etherscan.io/address/0x698253A24CC4926090f841B38D31d6342A00a82C) | ChainlinkOracleV2 (BTC/USD + USDC/USD feeds) | ### Fixed-rate oracle pipeline (May 7 Expiry) PT-USDe and PT-sUSDe markets use a 3-layer oracle stack: ``` AaveToChainlinkAdapter → ChainlinkOracleV2 → FiraSolvencyOracle → FiraLendingMarket ``` | Layer | PT-USDe | PT-sUSDe | | ---------------------- | ----------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------- | | AaveToChainlinkAdapter | [`0xc42F003F9eCD3DdDF704556E82Cdd9271818171F`](https://etherscan.io/address/0xc42F003F9eCD3DdDF704556E82Cdd9271818171F) | [`0x3d7346578be9B82E0227D027bd86F6De59BA3C91`](https://etherscan.io/address/0x3d7346578be9B82E0227D027bd86F6De59BA3C91) | | ChainlinkOracleV2 | [`0x2ED527087B740530562754EFCd608290eCCdBe2e`](https://etherscan.io/address/0x2ED527087B740530562754EFCd608290eCCdBe2e) | [`0xD6f5D9102007A737D9EDE6543262516d5c2fc8f8`](https://etherscan.io/address/0xD6f5D9102007A737D9EDE6543262516d5c2fc8f8) | | FiraSolvencyOracle | [`0xeB30b33A1aC175e0305853636D0eF3898eb530f3`](https://etherscan.io/address/0xeB30b33A1aC175e0305853636D0eF3898eb530f3) | [`0xB9bAA3D58E1431776218F39919fd21AeD3e69aBb`](https://etherscan.io/address/0xB9bAA3D58E1431776218F39919fd21AeD3e69aBb) | ### Fixed-rate oracle pipeline (May 27 Expiry — PT-USDG) The PT-USDG market uses a MetaOracleDeviationTimelock with primary/backup oracle redundancy: ``` MetaOracleDeviationTimelock → FiraSolvencyOracle → FiraLendingMarket ``` | Layer | Address | Description | | --------------------------- | ----------------------------------------------------------------------------------------------------------------------- | -------------------------------- | | MetaOracleDeviationTimelock | [`0xEA268c588072e2639448E3a9433AB92E871335E2`](https://etherscan.io/address/0xEA268c588072e2639448E3a9433AB92E871335E2) | Deviation threshold: 0.5% | | Primary Oracle | [`0x8ec85C167a43EBe4EB183e8d9B876D1cdad9A9fB`](https://etherscan.io/address/0x8ec85C167a43EBe4EB183e8d9B876D1cdad9A9fB) | 1:1 USDG peg + Pendle TWAP | | Backup Oracle | [`0x8A01940D89CF95D9F6e92a90B17C0Ca5C953fE73`](https://etherscan.io/address/0x8A01940D89CF95D9F6e92a90B17C0Ca5C953fE73) | Chainlink USDG/USD + Pendle TWAP | | FiraSolvencyOracle | [`0x90d0d6fdf9fe93777085e8b4baf3aab4285bac6b`](https://etherscan.io/address/0x90d0d6fdf9fe93777085e8b4baf3aab4285bac6b) | Final solvency check | ### Chainlink feeds | Feed | Address | | -------- | ----------------------------------------------------------------------------------------------------------------------- | | BTC/USD | [`0xF4030086522a5bEEa4988F8cA5B36dbC97BeE88c`](https://etherscan.io/address/0xF4030086522a5bEEa4988F8cA5B36dbC97BeE88c) | | USDC/USD | [`0x8fFfFfd4AfB6115b954Bd326cbe7B4BA576818f6`](https://etherscan.io/address/0x8fFfFfd4AfB6115b954Bd326cbe7B4BA576818f6) | ## Router facets The FiraRouterV4 uses a facet-based (diamond-like) architecture. All user-facing calls go through the Router, which delegates to the appropriate facet. | Facet | Address | Functions | | -------------------- | ----------------------------------------------------------------------------------------------------------------------- | ----------------------- | | ActionSwapBTV3 | [`0xab2383692ed8e0836e25b71988c925dfd94ed2fe`](https://etherscan.io/address/0xab2383692ed8e0836e25b71988c925dfd94ed2fe) | BT swaps | | ActionSwapCTV3 | [`0xdb7a722ae7baf83d3d8b9e812952916326d6656b`](https://etherscan.io/address/0xdb7a722ae7baf83d3d8b9e812952916326d6656b) | CT swaps | | ActionAddRemoveLiqV3 | [`0x286bbc5519cd421011e7e1c092e1d6a72edb4d30`](https://etherscan.io/address/0x286bbc5519cd421011e7e1c092e1d6a72edb4d30) | Liquidity add/remove | | ActionCallbackV3 | [`0x2dead5b19935d7299d7077c52f2e2860370278a5`](https://etherscan.io/address/0x2dead5b19935d7299d7077c52f2e2860370278a5) | Internal swap callbacks | | ActionSimple | [`0x4474886d003abcb53c307324894c074ce5176f75`](https://etherscan.io/address/0x4474886d003abcb53c307324894c074ce5176f75) | Simple token transfers | | ActionMiscV3 | [`0x967234d7a4416380107da653e5d3afc9c7bf8874`](https://etherscan.io/address/0x967234d7a4416380107da653e5d3afc9c7bf8874) | FW/BC minting, simulate | | ActionBorrow | [`0x66f5853cf6c36b97e754f074397d00b78253ef03`](https://etherscan.io/address/0x66f5853cf6c36b97e754f074397d00b78253ef03) | Borrow/repay | | ActionStorageV4 | [`0x0386685eA7d37c61dDb8F2e2E8c45f6a81d4A3C8`](https://etherscan.io/address/0x0386685eA7d37c61dDb8F2e2E8c45f6a81d4A3C8) | Router admin | ## Factory contracts | Contract | Address | | ------------------------ | ----------------------------------------------------------------------------------------------------------------------- | | ChainlinkOracleV2Factory | [`0x7783fF7bE856C7A82bC5497Fb3CC8F7E8802D8dC`](https://etherscan.io/address/0x7783fF7bE856C7A82bC5497Fb3CC8F7E8802D8dC) | | SisuVaultFactory | [`0xe77E0f97A864558e5513209323e4169FcEAC6981`](https://etherscan.io/address/0xe77E0f97A864558e5513209323e4169FcEAC6981) | | YieldContractFactory | [`0xcdB83Abb9121c04589567A4106C3cFaf65DB68Be`](https://etherscan.io/address/0xcdB83Abb9121c04589567A4106C3cFaf65DB68Be) | | FiraMarketFactory | [`0xBF1EfC2199ae9EE1B6f5060a45D4440157E49744`](https://etherscan.io/address/0xBF1EfC2199ae9EE1B6f5060a45D4440157E49744) | ## Key roles | Role | Address | | ------------------- | ------------------------------------------------------------------------------------------------------------------------------------- | | SisuVault Curator | [`0xc02B0D1ca7B986E63cf1599F9c32e8A96c2D4Cff`](https://etherscan.io/address/0xc02B0D1ca7B986E63cf1599F9c32e8A96c2D4Cff) (Markov Labs) | | SisuVault Allocator | [`0x4E700A14868620a9Bba0669721F1945c410c7571`](https://etherscan.io/address/0x4E700A14868620a9Bba0669721F1945c410c7571) (Markov Labs) | | FIRA Yield Treasury | [`0x97fD565B913b439Ff16774Da152B1f71F05A82F1`](https://etherscan.io/address/0x97fD565B913b439Ff16774Da152B1f71F05A82F1) | | Deployer EOA | [`0x7Da82CBD315923d75dbb2C62F099392705FF97f9`](https://etherscan.io/address/0x7Da82CBD315923d75dbb2C62F099392705FF97f9) |