Frequently Asked Question (FAQ)

Napier: Frequently Asked Questions

The FAQ is continuously updated based on user questions and feedback. Your questions and input are incredibly valuable—please join our Discord and feel free to reach out to the team. Additionally, if any financial issues arise, kindly open a ticket.

General

What is the Napier Finance?

Napier Finance is a decentralized, noncustodial suite of decentralized financial protocols implemented for the Ethereum Virtual Machine. A prime example is Napier Finance version 2.

• Napier Finance Version 1: A liquidity hub for yield trading leveraged by Curve AMM.

• Napier Finance Version 2: A modular yield tokenization protocol.

The Napier Finance Version 2 is a modular yield tokenization protocol enabling users to fix, trade yield and build without limits on the Ethereum Virtual Machine. The protocol is implemented as immutable smart contracts, designed to function as a trustless base layer for users and applications.

Napier v2 is licensed under GPLv3 which you can find github.com/napierfi/napier-v2. Once deployed, Napier will function in perpetuity, provided the existence of the Ethereum blockchain.

What is the Napier Point?

Napier Points are reward points granted based on user activities within the Napier v2 protocol (such as holding positions, curation, yield trading, and other DeFi operations like lending).

To learn more about how this works, please refer to the Napier Point page.

Has the Napier v2 protocol undergone a code audit process?

Napier v2 was launched following a rigorous code audit process. Moreover, security was prioritized at every stage of its development. For more details about our commitment to security, please see the Securing Napier page.

For Users

How are the APY, Volume, and TVL data displayed in Napier Interface (app.napier.finance) calculated?

You can check the Calculation page. If you're looking for the API related to this data, please refer to the Napier API (api-dev.napier.finance/docs).

Are markets curated by third parties secure?

Napier v2 allows anyone to create a market through a permissionless process. However, the Napier Interface distinguishes and displays markets based on the creator's (curator's) verification status and management method. By default, unverified creators' markets do not appear. This enables you to choose trusted curators or select immutable markets for full transparency.

To learn more about how this process works, please refer to the Roles Delegation page.

How to mint a PT and YT?

Through the Trade (app.napier.finance/trade) page, after selecting your preferred asset and maturity date, you can mint a PT and YT.

If you would like to learn more about PT or YT, please refer to the Yield Tokenization page.

How do I trade PT and YT?

Through the Trade (app.napier.finance/trade) page, after selecting your preferred asset and maturity date, you can review estimated trading data—such as price and APY—before executing PT and YT trades.

If you would like to learn more about PT or YT, please refer to the Yield Tokenization page. Should you encounter any unfamiliar terms or data within the estimates, you can consult the Calculation or Glossary page.

How can I provide a liquidity?

Similarly, through the Pool page (app.napier.finance/pool), after selecting your preferred asset and maturity date, you can review estimated data like APY before providing liquidity.

Should you encounter any unfamiliar terms or data within the estimates, you can consult the Calculation or Glossary page.

For Curators

How can i create a market on Napier v2?

Using the curator interface (app.napier.finance/curate), you can freely create new markets by configuring and entering the necessary information. For more details, please refer to the Create a New Market page.

What assets can be used as underlying assets for market creations?

Almost all yield-bearing assets can be used for market creations.

However, when using non-ERC4626 assets as underlying assets, a component called a Resolver must be registered. In most cases, Napier Labs has already pre-registered the necessary Resolvers, so typically, no additional input is required.

How can I set fees?

You can refer to the Market-Based Governance guide. If you are still unsure how to set fees, we recommend a 3% Performance Fee (Before Maturity) and a 10% Performance Fee (After Maturity).

How can I become a curator of Napier v2?

Anyone can become a curator on Napier v2 permissionlessly. However, please note that the Napier Interface, by default, only displays markets created by verified curators. To ensure users can discover your markets, you must complete the verification process via the curator dashboard. Detailed information about this process is available on Get Started page.

How to list a yield bearing token on Napier?

Similarly, through the Curator Dashboard page (app.napier.finance/curate), anyone can create a market on Napier v2 permissionlessly. However, please note that the Napier Interface only displays markets created by verified curators by default.

How to claim curator fees?

You can claim curator fees through the Curator Dashboard page (app.napier.finance/curate). For more details, please refer to the Collect Curator Fees page.

For Builders

How can I display Napier Point on the UI of my project?

For Napier Point integration, please refer to Point Integration page.

How can I integrate PT with a lending protocol?

The Developer Guide is a work in progress. If you're in a hurry, please contact our team on Discord.