Claim and redeem

Claim YT interest, anytime

Interest builds up on your YT continuously as the Blend rate ticks along. The Portfolio page shows what is collectible right now. Claiming pays it out of the protocol’s escrow as SY, which you can hold or unwrap to USDC. There is no schedule and no deadline. One thing worth knowing: claimed interest is realized. Once collected, it is yours no matter what happens to rates afterwards.

The claimable figure is a snapshot of a live rate, so the executed amount can differ slightly from the preview, always equal to it or in your favor, since the rate only rises. If nothing has built up since your last claim, the page says No yield to claim rather than letting you pay a fee for an empty transaction.

Recombine PT + YT, before maturity

Equal amounts of PT and YT recombine back into SY at any time before maturity, undoing the split exactly. Enter the amount under Recombine to SY. The protocol burns both tokens, credits any interest your YT had earned to your ledger first, and releases the locked SY. Holding unequal amounts? Recombine as much as the smaller side allows, then trade the leftover on the Trade page.

Redeem PT, after maturity

Once the market matures, Redeem PT pays one USDC of principal per PT, priced at the rate frozen at maturity. Redemption stays open indefinitely and the frozen rate can never change, so there is no race and nothing gained by rushing. Before maturity the button is unavailable; selling PT on the Trade page is the early exit.

Redeem SY, anytime

Redeem SY to underlying unwraps SY back to USDC at the current exchange rate, straight out of the Blend position. This has no maturity attached. It works before, at, and after.

Which action, when