How often rates update

How often rates update

Each Stablebond’s rate tracks the yield of its underlying government bond, and Etherfuse refreshes it on a regular schedule.

Update schedule

• Frequency: rates are updated weekly — currently every Thursday, around noon MST.

• Subject to change: the weekly cadence is the current schedule and may change in the future.

How updates take effect

Rates are updated on-chain. When a rate changes, the Stablebond’s yield and APY adjust accordingly, so what you see always reflects the latest published rate.

Because Stablebonds are reward-bearing, an updated rate simply changes how quickly each token’s value accrues from that point forward (see How Stablebond yield works).

Your value accrues continuously

A Stablebond gains value for as long as you hold it — whether that is one day or a year. There is no need to redeem at a particular time to “capture” the yield; it accrues into the token’s value the entire time you hold.

The weekly update above is only how often the rate is refreshed — it is not a lock-up or a maturity date. Between updates, your value keeps accruing at the current rate.

Nights, weekends & market hours

The underlying government-bond markets are not open 24/7. While those markets are closed (nights and weekends):

• The principal / FX price is held steady — it does not move while the market is closed.

• Your yield still accrues the whole time.

When markets reopen, price updates resume as normal. So a flat price over a weekend is expected — your yield was still accruing underneath.

Price vs. value (and where you see it)

A Stablebond’s value is denominated in the local currency of its bond (for example, CETES in Mexican pesos) and rises as yield accrues. You may also see it quoted against a stablecoin such as USDC. This published value is the Stablebond’s NAV.

On the other chains, the on-chain market price can differ slightly from NAV at any moment based on pool supply and demand — see Liquidity, slippage & “Insufficient Liquidity.”