Pendle Print #105
Stupidly Powerful
Pendle is the ultimate yield market in DeFi – fixed yields, leveraged yield + points trading, and funding rate swaps (via Boros).
The objective of The Pendle Print is to distill the developments in DeFi yield markets into a succinct and actionable format.
Important Highlights ✨
Direct access to Pendle from CEXs…One-click PT leverage + Auto-rollover…Cross-chain PTs…Infinite Liquidity…
Pendle’s goal this year is empowering users AKA you and making your yield stupidly easy, stupidly powerful:
RWA + Fixed Yield - a lethal combo served by Pendle:
New Pools
USDG (14 May 2026)
apxUSD (17 Jun 2026)
apyUSD (17 Jun 2026)
sUSDu (23 Apr 2026)
AVLT (21 May 2026)
savETH (14 May 2026)
xHYPE (28 May 2026)
Strategy Highlights 💰
Your favourite stablecoin is also Saylor’s favourite stablecoin.
13.46% Fixed APY + 19.28% LP APY for the hottest new RWA addition:
Speaking of RWAs, a majority of PTs (especially those backed by cash + US Treasury Bills) are essentially the same as their underlying, but with better yields.
Some highlights:
PT-thBILL (5.35% Fixed APY): Basket of institutional-grade tokenized US Treasury Bills, anchored by Standard Chartered Libeara's T-Bill token
PT-reUSDe (13.04% Fixed APY): Junior capital in Re Protocol's §114 reinsurance trust, yield sourced from real-world insurance underwriting profits
Pencosystem
US T-Bills, now available in double-digit APYs:
Cross-chain PT-sUSDe means we can now tap into ListaDAO on BNB Chain for up to 35.6% APY.
Yes, 35.6% APY. For sUSDe.
Pendle PT-srUSDe + Aave = 29% APY
Boros
Not everyone has the gigabrain to execute a complex, multi-leg set up to arbitrage funding rates across perp platforms.
But thanks to this new, handy tool, every Tom, Dick and Harry can now run it:
The weekly streak continues with more markets:
Delta-neutral strategy, but with Fixed Funding Rate thanks to Boros:
Excuse me, but it’s actually $12.4B now 😮💨
Delta-neutral funding arbitrage, fully automated, powered by Boros ✊🏻
Stalk Boros and our numbers easily with this cool Dune dashboard:
<8mins to master Boros:
All the sexy stuff that happened in February 🤫
Intern Insights
Pendle LP is an upgrade over raw apyUSD in every way.
More yield, more points, similar exposure:
“WTF is apyUSD?”
Ask and you shall receive:
X Highlights
Stupidly powerful.
RWAs are on the rise and with it, the number of institutions coming onchain too.
“This effectively embeds PTs into the underlying foundation of the DeFi yield stack, strengthening their role as core yield-management primitives.”
I like the one that kinda looks like a pendulum.
24% APY with PT-NUSD + Morpho:
And last but certainly not least…fixed yield isn’t boring, you’re boring 🫵🏻
That’s it for this issue.
Attention and capital is scarce in this market – and for that we thank you for your continuous support.
pendle.finance | Twitter | Discord
Pendle is the largest rate swap protocol for fixed yields and yield trading in DeFi. Pendle’s adoption as a DeFi primitive has been growing across protocols and institutions to generate more yield, secure fixed yields and directionally trade yield on yield-bearing DeFi assets.
Disclaimer: Nothing written in this post is intended to serve as financial advice. All content in this post serves merely for informational purposes.
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