Coins on COUPON pair only with tokenized bonds that pay a fixed coupon. Twice a year, the accrued interest buys and burns the coin — with a printed stub showing exactly how much. Usually: not much. That's the honest part.
Pick a tokenized fixed-income bond. Only coupon-payers are on the shelf.
At 120 units of the bond, the curve opens a COIN/xBOND pool.
If the issuer pays through — the big if, see risks — interest accrues between coupon dates.
On the payment date, anyone can crank the coupon: accrued interest buys the coin and burns it.
Rates and dates here are examples, not market data — the stub says so on every copy it prints.
The coupon never touches a holder's wallet. It buys the coin on the open market and burns it — a supply event, not income. That distinction is the whole design.
Every other pad would bury this section. It's the reason this one exists: see what a coupon actually buys before you care about it.
A tokenized bond only pays if the issuer actually passes the coupon through, on their terms and timeline. Some don't.
Issuers default or restructure. A payer can stop paying while your coin stays paired to it for good.
Nothing is ever paid to holders. Coupon is a supply event on the open market — not yield in your wallet.
The calculator above is the pitch and the warning at once. Half a year's interest is a rounding error next to what the coin's chart does in a day.
The curve is quoted in the bond, so your position rides the coin's ratio times the bond. Bonds are usually calmer — usually is not always.
Bond markets keep limited hours while the coin trades all weekend. Most launched coins go to zero with every coupon intact.
No coupon is running. Every rate, date and stub on this page is an example generated in your browser. Verifying which issuers actually pass coupons through does not exist yet — until it does, neither does COUPON. Anything calling itself a live COUPON today is not us — the only account is @COUPON_pad.
Small, regular, verifiable — printed on a stub anyone can check.
