# Yield Contracts

Yield contracts are the mechanism by which FW is split into its fixed-rate and floating-rate components. BT/CT pairs are minted 1:1 at the BC index rate and can be recombined to recover FW until (and after) expiry.

## Contracts

* [BondToken](https://docs.fira.money/developers/protocol-contracts/yield-contracts/bond-token) — Fixed-rate principal claim, mintable/burnable by CT and LiquidityInjector
* [CouponToken](https://docs.fira.money/developers/protocol-contracts/yield-contracts/coupon-token) — Floating-yield leg with interest tracking and post-expiry handling
* [YieldContractFactory](https://docs.fira.money/developers/protocol-contracts/yield-contracts/yield-contract-factory) — Creates BT/CT pairs per FW + expiry