> ## Documentation Index > Fetch the complete documentation index at: https://docs.momentrates.xyz/llms.txt > Use this file to discover all available pages before exploring further. # What is Moment? > Your money is a line over time. Moment lets you change its shape. Moment lets you choose **when** you earn yield. Lock in a sure amount for a date you pick, or get a lot of yield for a short window. Coming from Pendle? **Fixed** is like buying PT and **Leverage** is like buying YT. But your coin is never split into separate tokens, nothing expires, and you can pick any window, even one that starts later. More in [For traders](https://docs.momentrates.xyz/background/for-traders.md). > [!NOTE] > > All numbers on this page are examples. The app always shows live numbers. ## Your money is a line Most apps show your money as one number. Moment draws it as a **line over time**, from **Now** to **∞**. This line is your **TimeBalance**. ![A flat gold bar from Now to infinity with a thin blue strip on top, and a box before Now showing what was held since the last sync](https://mintcdn.com/moment-0fa29e7e/5c4BULtyWxFid-gy/images/balance-line.webp?fit=max\&auto=format\&n=5c4BULtyWxFid-gy\&q=85\&s=05c164f9ff045b5f6debb89ee156be05) Left to right is time. Height is how much you hold on that day. * **Gold** is your money. Hold 1,000 USDS in Moment and the line is 1,000 high on every day. * **The box before Now** is what you held since your last sync. That is what earned the yield. A **sync** happens whenever you do anything: a trade, a close, adding or removing liquidity. * **Blue** is the yield that box earned. It is added to every day from Now on. You never have to claim it. * A flat line is the same as just holding the coin. Every trade changes the shape of this line. ## Why people use it Holding a yield-bearing coin means taking whatever yield it pays, day by day. Moment lets you trade that: * **You want certainty.** You think yields will fall, or you need a known amount on a date: a treasury budget, a payment you owe. Use **Fixed**. * **You have a view.** You think yields will be high for the next few weeks. Use **Leverage** to get a lot of yield for just that window. * **You want to be the other side.** Others need someone to trade with. Use **Limit** or **Recursive** and earn your own rate or a spread. ## Fixed: a sure amount on a date You pay 1,000 today. On Nov 2 you get 1,005 back. The extra 5 is locked in, whatever the vault earns. Nov 2 is a **maturity**: a date a trade pays out on. ![Fixed with Moment: 1,000 paid from Now to infinity in red, about 1,005 received from Nov 2 to infinity in green](https://mintcdn.com/moment-0fa29e7e/5c4BULtyWxFid-gy/images/fixed.webp?fit=max\&auto=format\&n=5c4BULtyWxFid-gy\&q=85\&s=658097d3d914fda18c838f778fd57fb8) Red is what you give. Green is what you get back. After Nov 2 they overlap, so you end up with a bit more. * **Until Nov 2:** 1,000 less. * **From Nov 2 on:** 5 more. That is your fixed yield. The 1,000 is **locked until Nov 2**: you can't withdraw it before then. To get out early, use [Close](https://docs.momentrates.xyz/use-the-app/close.md), at today's prices. **Fixed or just hold?** Holding earns whatever the vault pays. Fixed locks 5.21%, whatever the vault yields. Fixed wins if the vault averages less than 5.21% until Nov 2; holding wins if it averages more. [See the numbers](https://docs.momentrates.xyz/use-the-app/fixed.md#fixed-or-just-hold). ![Fixed after the trade: the TimeBalance is lower until Nov 2 and higher from Nov 2 on, with the old level dashed](https://mintcdn.com/moment-0fa29e7e/5c4BULtyWxFid-gy/images/fixed-after.webp?fit=max\&auto=format\&n=5c4BULtyWxFid-gy\&q=85\&s=f887e285301d0e607ce6c17e7edcea69) After the trade: the red is gone and the green is now part of your balance. ## Leverage: a lot of yield for a short time You pay 100. Until Nov 2 you earn the yield of about 19,593: 196× what you paid. If the vault averages more than 5.35% in that window, you win. If not, you lose up to 100. There is no liquidation. The 19,593 is **not money you can withdraw**. It only earns yield for you, and it ends on Nov 2. [See the numbers](https://docs.momentrates.xyz/use-the-app/leverage.md#leverage-or-just-hold). ![Leverage with Moment: 100 paid from Now to infinity in red, and a tall green block of exposure only from Now to Nov 2](https://mintcdn.com/moment-0fa29e7e/5c4BULtyWxFid-gy/images/leverage.webp?fit=max\&auto=format\&n=5c4BULtyWxFid-gy\&q=85\&s=d80742de9e46ba1cc4488f2ec309edcd) Give a little from every day. Get a lot, but only inside your window. ![Leverage after the trade: the TimeBalance is much higher until Nov 2 and a little lower after, with the old level dashed](https://mintcdn.com/moment-0fa29e7e/5c4BULtyWxFid-gy/images/leverage-after.webp?fit=max\&auto=format\&n=5c4BULtyWxFid-gy\&q=85\&s=802518964bfaa79bde1a7791f54f461f) After the trade: a lot more until Nov 2, a little less after. ## Paying with tokens You can pay from your TimeBalance (**Moment**) or with **Tokens** from your wallet, like sUSDS. With Tokens, nothing is taken from your line: the tokens leave your wallet and only the green shows up. ![Fixed paid with sUSDS: the shares leave the wallet, no red on the TimeBalance, about 1,005 in green from Nov 2 on](https://mintcdn.com/moment-0fa29e7e/5c4BULtyWxFid-gy/images/fixed-shares.webp?fit=max\&auto=format\&n=5c4BULtyWxFid-gy\&q=85\&s=71d6ae62692225720cc6930c85f60f6c) Paying with sUSDS: your line loses nothing, it only gains from Nov 2 on. ![Fixed with sUSDS after the trade: the TimeBalance is unchanged until Nov 2 and higher from Nov 2 on](https://mintcdn.com/moment-0fa29e7e/5c4BULtyWxFid-gy/images/fixed-shares-after.webp?fit=max\&auto=format\&n=5c4BULtyWxFid-gy\&q=85\&s=79e670561ad0a607710f76baee1b3b80) After the trade: from Nov 2 on, your line holds about 1,005 more. ## Earning as a liquidity provider Other people's trades need someone on the other side. You can be that side and set your own rate: * **[Limit bid](https://docs.momentrates.xyz/use-the-app/limit-bid.md)**: Leverage, but at your own rate. You wait for a Fixed trader. It fills once. * **[Limit ask](https://docs.momentrates.xyz/use-the-app/limit-ask.md)**: Fixed, but at your own rate. You wait for a Leverage trader. It fills once. * **[Recursive](https://docs.momentrates.xyz/use-the-app/recursive.md)**: both at once. Quote a bid and an ask, and earn the gap every time trades go back and forth. ![Limit bid is Leverage at your rate, filled by a Fixed trader; Limit ask is Fixed at your rate, filled by a Leverage trader; Recursive does both and earns the gap](https://mintcdn.com/moment-0fa29e7e/5c4BULtyWxFid-gy/images/lp-overview.webp?fit=max\&auto=format\&n=5c4BULtyWxFid-gy\&q=85\&s=a265c4fa6fa508efa2edb5dcf07a46e5) Limit bid is Leverage at your rate. Limit ask is Fixed at your rate. Recursive does both. ## Good to know * Nothing expires, and yield is added for you at every sync. * Rates come from people trading. There is no price oracle. Stuck on a word? See the [Glossary](https://docs.momentrates.xyz/good-to-know/glossary.md). ## Related topics - [Moment: choose when you earn yield](https://docs.momentrates.xyz/index.md) - [FAQ](https://docs.momentrates.xyz/good-to-know/faq.md) - [Integrating with Moment](https://docs.momentrates.xyz/for-builders/integrating-with-moment.md) - [Leverage](https://docs.momentrates.xyz/use-the-app/leverage.md) - [For investors](https://docs.momentrates.xyz/background/for-investors.md) This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.