Buttonwood

Buttonwood is a decentralized finance protocol that builds composable DeFi primitives for creating structured financial instruments on-chain. The core innovation is a generalized 'Tranche' primitive that splits crypto collateral into differentiated risk tranches — a senior (mortgage) tranche and a junior (equity) tranche — enabling the construction of zero-coupon bonds, liquidation-free crypto-backed loans, convertible bonds, fiat-free stablecoins, and options without margin calls or forced liquidations. Buttonwood's product suite includes Convertible Credit (fixed monthly payments, no liquidation risk), Buy Now Pay Later for crypto assets, Coin Compounding (leveraged staking), and lending pools that earn Consol yield tokens. The protocol is designed to rebuild traditional financial instruments in a truly decentralized form, with all components composable and interoperable across DeFi ecosystems. Buttonwood was developed by Prometheus Research Labs, a team of engineers, historians, and designers united by the belief that DeFi must reconstruct old finance before it can surpass it.