Pendle Print #108
We Made the Big Scary Mindmap Less Scary
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 ✨
3 weeks ago, we published the “Pendle 2026 Product Roadmap", highlighting all the projects that will help make Pendle stupidly powerful.
3 weeks later and already, a huge portion of the map’s already been ticked off, with plenty of the “Ongoing” yellows ready to turn green very soon.
Reminder to migrate your matured Strata pool positions!
OTC Desk for Boros, brought to life so you can finally hedge your funding rate exposure at size:
ICYMI, Pendle actually does have a “private banking” arm called Pendle Priority. Check out the post below to learn more!
Stablecoins are evolving into the liquidity backbone of our global payment system, and Pendle is primed as the yield infrastructure for them:
[PRODUCT UPDATE] We just rolled out the new [presign limit order] feature, which lets you place limit orders by sending transaction to our Limit Router contract directly.
Pros:
Multisig friendly
In scale orders mode, users can place multiple orders while signing once instead of multiple times
Cons:
Users need to pay gas fee when placing order (to send the transaction)
New Pools
SIERRA (2 July 2026)
Strategy Highlights 💰
Loop PT-apyUSD on Morpho for ~98% APY:
The best discounted dollars on Pendle:
PT-sNUSD offering 7.8% APY for up to $24M in swap:
Professor Vu is back with a big brain Boros trade for the hottest commodity on the market now - Oil 🛢️
Note: Given the extreme price movements, coupled with large unhealthy positions and a lack of liquidity, “Close Only Mode” was triggered to cool the Oil markets down by disallowing the opening of new positions (only closing existing ones was allowed). Initial margin requirement has been bumped up for NEW positions, max leverage (in opening NEW positions) was reduced from 3x to 1x.
Pencosystem
Aave V4 kicks off with Pendle PTs right out of the gate:
PT-apxUSD and PT-apyUSD now live as collateral on Morpho:
Omnichain PT swap, powered by Bungee.
Any token from any chain to any PT, received on any chain:
Pendle MCP has been updated and can now support even more tools:
Boros
New markets:
XYZ100USDC-Hyperliquid (Apr Maturity)
ETHUSDT-Binance (Sep Maturity)
ETHUSDC-Hyperliquid (Sep Maturity)
What we did in March 2026:
Amazing delta-neutral strategies with FIXED APY using Boros:
A breakdown of Professor Vu’s gigabrain trade:
Intern Insights
What do these YT bulls know that we don’t 🤔
X Highlights
What’s next for Pendle LO Incentives:
PT-USDG - a precursor of what’s to come for onchain fixed income:
The best yield opportunities up for grab:
Stop hallucinating, Neo.
Recap of Pendle’s wins:
And last but certainly not least… KitKat thief could retire if they knew how to Pendle:
That’s it for this issue.
Attention and capital is scarce in this market – and for that we thank you for your continuous support.
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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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