DEFI protocols have been issuing bonds as smart contract or just "soft implementation" for years already. Maybe it's worth scrolling those. Their main purpose is to lock liquidity and the APR is a bait for that. It creates better price stability.

1. We want to lock Hive
2. We want liquid timelocked payouts
3. APR should be locked in, but adapt to the market at the very moment

Would that be the best case?