Pendle Print #111

Would you like some CHIPs with that sPENDLE?

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 ✨

Great news for sPENDLE holders - free CHIPS, the hottest airdrop on the market 🤖

Pendle@pendle_fi

7.49M $CHIPS have been distributed to sPENDLE holders, collected as part of protocol fees Distribution is proportional to time-weighted sPENDLE holdings over the previous epoch (7 Apr – 20 Apr) This is separate from and in addition to ongoing buyback rewards.

1:37 PM · Apr 22, 2026 · 36.4K Views

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19 Replies · 20 Reposts · 179 Likes

Strategy Highlights 💰

So are CHIPS still good to farm in S2? The numbers (courtesy of x256xx) certainly say so:

Pendle Intern@PendleIntern

TL;DR Summary of this @USDai_Official moonsheet 👇🏻 Pendle's got 2 USDai markets maturing exactly on Oct 14, aligning perfectly with @USDai_Official's Flatiron S2. LP USDai | 25x multiplier 🐻 Bear ~18% 📊 Base ~39% 🚀 Bull ~98% LP sUSDai | 12x multiplier + staking yield 🐻

1:11 AM · Apr 24, 2026 · 6.99K Views

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5 Replies · 2 Reposts · 29 Likes

Speaking of generational wealth YTs, here’s another one to place in your radar.

• Maximum points is known

• Points allocated to Pendle market is known (and very generous)

• Airdrop % is known (and very generous)

• TGE date of Sep 2026 is known

In other words, yummm~

Pendle Intern@PendleIntern

You missed out on generational wealth with USDai YTs and $CHIP, don't miss this @SierraIsMoney one Not many realize how GENEROUS (especially for Pendle) and TRANSPARENT Sierra has been with their airdrop: 🔹Maximum of 100,000,000 Peaks (i.e. points) issued 🔹MINIMUM of

3:15 AM · Apr 23, 2026 · 13.9K Views

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12 Replies · 5 Reposts · 73 Likes

$1.33M of USDT gobbled up by PT-USDG bridgoors cum loopers in minutes.

You can be on the other side of this trade servicing this demand with USDT.

For your troubles? 14.4% APY.

Pendle Intern@PendleIntern

[UDPATE] 100% utilization, $0 liquidity left within hours 🤯 In a related note, here's how you can leverage the high demand for PT-USDG looping: > Deposit into RockawayX PT Yield vault on @lista_dao > USDT gets allocated into PT markets, including PT-USDG > Earn 30.9% APY

Pendle Intern @PendleIntern

There's 104% APY hiding in plain sight for @global_dollar USDG, and it's over at @lista_dao. Yes, PT-USDG can now be bridged to BNB Chain. 👉🏻 6.04% Fixed APY 👉🏻 0.37% Borrow Rate ⭐ 104% Max Loop APY Here's how you do it 🧵

12:07 AM · Apr 24, 2026 · 13.6K Views

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14 Replies · 3 Reposts · 47 Likes

DeFi is all doom and gloom now, and many would rather have stables earning 0% than risking it all for 4% APY.

…but what about 16% Fixed APY?

Pendle@pendle_fi

The rate keeps climbing for STRC on Pendle. It's now at 16.3% fixed APY, 480 basis points over STRC's native dividend rate. STRC dividend rate = 11.5% SATA dividend rate = 13% apyUSD APY = 11.4% ⭐ PT-apyUSD = 16.3% Fixed APY

5:34 AM · Apr 23, 2026 · 15.5K Views

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15 Replies · 12 Reposts · 141 Likes

Pencosystem

All the markets juiced up with incentives this epoch, including our newest RWA additions - Ember pools:

Pendle@pendle_fi

Earn more with exclusive rewards across 9 YT and LP markets this epoch, spanning stablecoins, RWA, and structured yield - only on Pendle

11:02 AM · Apr 24, 2026 · 7.39K Views

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37 Replies · 17 Reposts · 71 Likes

Otomato just made Pendle notifications so much more powerful for you:

Pendle@pendle_fi

Stay informed on Pendle with what you want, only when you need it @otomato_xyz 🔔 PT maturity, limit order fills, implied rate changes, Pendle Print notifications and more!

Otomato 🔴 @otomato_xyz

Introducing the Otomato app After 2,000+ users on Telegram, we built the app we all wished existed: Actionable alerts that tell you when to act BEFORE it's too late: - Protocol security incidents - Liquidation warnings - Position out of range - Limit orders filled - Airdrop

3:42 AM · Apr 22, 2026 · 15.4K Views

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7 Replies · 5 Reposts · 73 Likes

Pendle LP reststructured into tranches:

10,500 USDT0 + 2,983 PENDLE across 3 epochs for LP-AVLT:

Altura@alturax

The second weekly epoch is underway. LP-AVLT holders get bonus incentives for holding their positions on Pendle. Make your capital compound the smart way. Only two weeks left for this window.

Altura @alturax

Fresh incentives just landed on @pendle_fi Starting today, we're distributing 10,500 USDT0 + 2,983 PENDLE across three weekly epochs. LP-AVLT positions on Pendle now earn ~8% in boosted yield on top of swap fees, base yield and other rewards. This campaign is live until May 7.

2:00 PM · Apr 26, 2026 · 4.48K Views

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25 Replies · 8 Reposts · 56 Likes

New Pendle PT markets on Lista DAO, including reUSD, USDG and sUSDe:

Lista DAO@lista_dao

New @Rockaway_X PT Yield Vault live on Lista Lending Deposit USDT and borrow @pendle_fi PT collaterals on @BNBCHAIN: 🔹 PT-reUSD/USDT 🔹 PT-USDG/ USDT 🔹 PT-sUSDE/USDT 🔹 PT-sUSDE/USDT Deposit now and share 25K rewards in $LISTA, $Moolah and $屎壳郎! lista.org/lending/vault/…

RockawayX @Rockaway_X

1/ Our PT Yield vault is now live on @lista_dao! Depositors gain diversified stablecoin exposure from Ethena’s sUSDe (ETH & PLASMA), Paxos’ USDG, and Re’s reUSD, earning yield by lending against @pendle_fi PTs. Access - https://t.co/cdSm2nldj1 Full details ↓

8:08 AM · Apr 21, 2026 · 21.1K Views

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10 Replies · 7 Reposts · 46 Likes

Intern Insights

Pendle owns 801,393 STRC:

Pendle Intern@PendleIntern

Pendle Strategy has acquired 128.63m apxUSD and 17.87m sUSDat and has achieved preferred dividend yield of 11.50% APY. As of 4/27/2026, we non-custodially hodl 801,393 $STRC powered by @apyx_fi, @saturn_credit, and @saylor

Pendle Intern @PendleIntern

Pendle Strategy has acquired 102.69m apxUSD and 15.8m sUSDat and has achieved preferred dividend yield of 11.50% APY. As of 4/21/2026, we non-custodially hodl 885,522 $STRC powered by @apyx_fi, @saturn_credit, and @saylor

11:54 PM · Apr 26, 2026 · 3.35K Views

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6 Replies · 3 Reposts · 37 Likes

As they say in volleyball: 'Chance!'

Pendle Intern@PendleIntern

BAH GAWD THAT'S YT'S MUSIC

Rune @RuneKek

stUSDS is at 26% due to large withdrawals SKY price hasn’t dropped so the risk shouldn’t have materially changed

3:21 AM · Apr 21, 2026 · 3.98K Views

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4 Replies · 2 Reposts · 19 Likes

X Highlights

The case(s) for STRC-linked markets on Pendle:

DeFi Dad ⟠ defidad.eth@DeFi_Dad

Despite massive outflows across DeFi this weekend, there's now over $265M in tokenized $STRC on Ethereum, and over $131M in liquidity trading on @pendle_fi. Investors can lock in a fixed yield with @apyx_fi and @saturn_credit swapping for these PTs: PT-apyUSD = 15% for 58 days

DeFi Dad ⟠ defidad.eth @DeFi_Dad

There's now almost $200M in tokenized $STRC on Ethereum, and close to $100M trading on @pendle_fi. We can lock in a fixed yield with @apyx_fi and @saturn_credit by swapping for these PTs on Pendle: PT-USDat = 7.85% for 134 days PT-sUSDat = 13.05% for 134 days PT-apxUSD = 14.39% https://t.co/AnPwLYiJTX

5:32 PM · Apr 20, 2026 · 11.3K Views

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13 Replies · 10 Reposts · 77 Likes

“Whenever an institutional credit product goes onchain in 2026, Pendle is where it lands for fixed-rate trading.

Saylor’s preferred stock. Apollo’s private credit. Paxos’ regulated stablecoin. Ethena’s synthetic dollar”

Yes, STRC-linked PTs are great, but don’t overlook the other stuff on the Pendle menu too:

Tindorr 🌯@0xTindorr

Some asked if I diversify beyond STRC-backed stablecoins. Answer is yes. Here are the other PTs on @pendle_fi I'm farming. Solid yields + good APRs 👇 1 - PT USDai (7.5% APR) by @USDai_Official USDai is 100% backed by PayPal's PYUSD. No exposure to the GPU loan book that

11:52 AM · Apr 25, 2026 · 6.63K Views

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11 Replies · 6 Reposts · 101 Likes

And last but certainly not least… enough room in here for even the fattest whales:

Pendle Intern@PendleIntern

Pendle开放 （没冷气）

Miss Money Penny @CleansedTweets

In Hong Kong, just like in the UK, English common law applies. So unlike Mainland China, prostitution itself is perfectly legal here as long as it’s not conducted inside a brothel *Used wholly or mainly by 2 or more persons “One-woman brothel” buildings have existed since

4:26 AM · Apr 21, 2026 · 13.5K Views

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14 Replies · 4 Reposts · 70 Likes

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.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.

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Disclaimer: Nothing written in this post is intended to serve as financial advice. All content in this post serves merely for informational purposes.