Term Issuer
Reservoir's Term Issuer enables users to exchange rUSD for fixed-term yield-bearing tokens trUSD of differing maturities. Governance will set debt caps and interest rates for the term-based token at different maturity dates throughout the year. The purchase will be discounted by the yield, and the user will be able to redeem 1:1 for rUSD at the maturity date. When issued, the user burns their rUSD and mints trUSD at the current discounted price and can expect to receive a rUSD balance equivalent to their trUSD balance upon maturity.
See the diagram that shows how term-based tokens are made available and their maturity schedule here.
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