> For the complete documentation index, see [llms.txt](https://docs.wandfi.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.wandfi.io/products/yield-vault-v2/product-description.md).

# Product Description

Yield swap is a specialized transaction. While Pendle uses traditional AMM mechanisms to create PT/SY trading pairs for yield swaps, Yield-vault V2 improves the algorithm to enhance capital efficiency and user experience.