Split

Users can split yield-bearing assets into DP and YB tokens by depositing the base asset into Tapir. The split ratio is always 50/50 — for every unit deposited, you receive equal parts DP and YB.

e.g. 100 units of a base asset → 50 DP + 50 YB

After splitting, you hold both sides of the position. You can keep both, or sell one side via the Buy tab to shift your exposure toward protection (more DP) or boosted yield (more YB).

---

How It Works

When you split, Tapir mints new DP and YB tokens backed by your deposited asset. The split is a protocol-level operation – no AMM interaction or slippage is involved. You always receive exactly 50% DP and 50% YB.

This is ideal when you want a balanced starting position before deciding how to allocate. If you already know you want a specific ratio (e.g., 80% DP / 20% YB), use the Buy tab instead.

Note: The user can also unsplit their split position

1. Split

Splitting an asset.

When you split, you are minting new DP and YB tokens from the underlying asset. The split is always 50/50 by default.

Example: Splitting 100 units of a base asset produces 50 DP + 50 YB.

How-to

1. From the Markets page, click into the asset you want to split.

2. Navigate to the Split tab.

3. Enter the amount of the base asset you want to split.

4. The interface will display the DP and YB amounts you'll receive (always equal).

5. Click Split and confirm the transaction.

6. Once confirmed, your DP and YB token balances will update on the asset detail page.

After splitting, you hold both sides of the position. From here, you have options:

• Hold both — Maintain balanced exposure to both protection and yield.

• Sell one side — Use the Buy tab to trade one token for the other, shifting your exposure toward protection (more DP) or boosted yield (more YB).

---

2. Unsplit

To reverse a split, toggle to Unsplit within the same Split tab. Unsplitting burns equal amounts of DP and YB tokens and returns the original base asset to your wallet.

e.g. 50 DP + 50 YB → 100 units of the base asset

Example: Unsplitting 50 DP + 50 YB returns 100 units of the base asset.

How-to

1. On the asset detail page, go to the Split tab.

2. Toggle to Unsplit.

3. Enter the amount you want to recombine.

4. Click Unsplit and confirm the transaction.

5. Once confirmed, your DP and YB token balances will update on the asset detail page.

You need equal amounts of both tokens to unsplit. If you hold 50 DP but only 20 YB, you can only unsplit 20 of each — returning 40 units of the base asset. The remaining 30 DP stays in your wallet.

---

What Happens at Maturity?

Each split position has a maturity date visible on the Markets dashboard. At maturity:

• DP token holders can redeem their tokens 1:1 for the underlying asset (protected against depeg losses up to 50%).

• YB token holders can redeem their tokens for the underlying asset plus boosted yield, but absorb depeg losses if a depeg event occurs.

Both sides receive the base yield of the underlying protocol throughout the holding period. Detailed maturity redemption mechanics will be documented as the production release model is finalized.