Pendle Print #117

The Sky is the Floor

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 ✨

PENDLE is now live for trading on Revolue in the UK and EEA, opening access to 20M users on their banking app:

Pendle@pendle_fi

PENDLE is now live on @Revolut, the largest fintech in Europe. 20 million crypto traders in the UK, EU, Norway, Iceland and Liechtenstein now have direct access from their everyday banking app, reaching $PENDLE through regulated rails rather than DeFi frontends 🏦

1:38 PM · Jun 3, 2026 · 16.2K Views

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26 Replies · 38 Reposts · 243 Likes

YT-sUSDD just got buffed with additional TRX rewards, on top of USDD and PENDLE incentives:

Pendle@pendle_fi

YT-sUSDD somehow just got even better 🔥 • A threesome of $TRX + $USDD + $PENDLE extra rewards • 921% Effective APY + 70% ROI (based on current rates) • 7.71% Fixed APY - one of the highest fixed yields for an institutional grade stablecoin

USDD @usddio

🔥 Massive $TRX Rewards Added — Plus Boosted USDD Incentives! ✨ We've upgraded rewards for the sUSDD market on @pendle_fi. In addition to existing incentives, users can now enjoy exclusive $TRX rewards alongside enhanced USDD incentives. This is a yield opportunity you won't

12:49 AM · Jun 5, 2026 · 8.49K Views

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21 Replies · 9 Reposts · 76 Likes

Strategy Highlights 💰

Fixed yield up to >7.71% Fixed APY on institutional-grade stablecoins:

Pendle@pendle_fi

Outsized fixed yield on institutional-grade stablecoins, with liquidity depth built to accommodate large allocators 🏦 Pendle's PT markets offer the rate certainty and capacity that onchain yield has historically struggled with, particularly for capital where predictability

4:00 AM · Jun 4, 2026 · 12.1K Views

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23 Replies · 9 Reposts · 110 Likes

Sky Savings Rate (sUSDS) = 3.6% APY, a variable rate

PT-sUSDS = Fixed yield, and a much higher rate too:

Pendle Intern@PendleIntern

What I'd do to have $4M.... So I could have $4.1M ⛅ Institutional depth for an institutional stablecoin @SkyMoney

Pendle @pendle_fi

Imagine buying $1 with only $0.975... > Buy @SkyMoney sUSDS at a discount > Redeem full value at maturity (173 days) Which makes this essentially a zero-coupon bond backed by the world's largest yield-generating stablecoin. Swap up to $3M for an effective fixed APY of 5.19% or

4:14 AM · Jun 5, 2026 · 5.22K Views

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6 Replies · 3 Reposts · 33 Likes

New Pool Highlights

• Sky sUSDS (Nov 2026)

Pendle@pendle_fi

Reach for the sky with @SkyMoney sUSDS (Nov 2026) ⛅ Exclusive incentives starting with $30k weekly from Sky, across the full maturity Learn more 👇🏻

1:00 PM · Jun 2, 2026 · 19K Views

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10 Replies · 16 Reposts · 117 Likes

Pencosystem

Pendle PT-sUSDS has been integrated into Sky Ecosystem’s UI, allowing seamless access to sUSDS fixed yield for all of their users:

Pendle@pendle_fi

Fixed yield for @SkyMoney sUSDS, powered by Pendle ⚡ Sky Savings Rate has always been one of the bluechip yield sources in DeFi, but it remains variable. Treasury desks, institutions and HNW users need to know their return in advance to deploy in size. With this, they can now

Pendle @pendle_fi

Reach for the sky with @SkyMoney sUSDS (Nov 2026) ⛅ Exclusive incentives starting with $30k weekly from Sky, across the full maturity Learn more 👇🏻

3:31 AM · Jun 3, 2026 · 7.26K Views

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10 Replies · 12 Reposts · 79 Likes

Want to learn more about sUSDS on Pendle? Sky’s got you covered with this thread:

Sky.money@SkyMoney

Set a rate. Hold until a known date. Receive the yield you set. Fixed Yield is now live on Sky.money, built together with @pendle_fi. Here’s how it works ↓

1:07 PM · Jun 3, 2026 · 12.4K Views

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18 Replies · 41 Reposts · 182 Likes

Prediction market for sPENDLE rewards is now live, and that means sPENDLE holders can now hedge your reward distribution with some simple but big brain plays:

Pendle Intern@PendleIntern

Pretty big for sPENDLE stakers to hedge your reward distribution. > sPENDLE is already "long" distribution > Hedge = buying the lower brackets on @42space (e.g. $0 - $400k) > High rewards - Great! Your sPENDLE prints > Low rewards - Your "bets" on 42space win and print

42 @42space

What will sPENDLE holders receive in the next reward distribution? Ethena S5 just wrapped, and some of those rewards could flow through to sPENDLE holders in the next distribution. Distribution may come in two forms: direct airdrops, and $PENDLE buybacks from @pendle_fi's V2

2:12 AM · Jun 4, 2026 · 6.37K Views

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6 Replies · 3 Reposts · 30 Likes

Incentives for YT and LP for AVLT on Pendle:

Pendle@pendle_fi

Yield bonanza for @alturax AVLT! ✅ Rewards for YT ✅ Rewards for LP ✅ PT enjoys elevated Fixed Yield

Altura @alturax

Hyperliquid yield on @pendle_fi just leveled up. Earn an extra 11% in boosted APY plus YT rewards for the next three weeks when you put AVLT to work on Pendle. Money just works better here 🦉

1:25 AM · Jun 8, 2026 · 1.11K Views

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2 Replies · 1 Like

PT-sUSDD is now live as collateral on Morpho:

USDD@usddio

🔥 We’re excited to announce that the PT-sUSDD/USDT and PT-sUSDD/USDC markets are now officially live on @Morpho! 📌 Users can acquire PT-sUSDD by swapping USDT on @pendle_fi, then use PT-sUSDD as collateral on Morpho to borrow USDT or USDC and unlock additional liquidity. This

12:16 PM · Jun 5, 2026 · 3.42K Views

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9 Replies · 17 Reposts · 47 Likes

Intern Insights

PTs have been getting all the attention for these markets, but one could argue YTs are where the big bucks are being made, thanks to all the generous incentives”:

Pendle Intern@PendleIntern

Worth pointing out that the YT of all these markets are on track to absolutely print now 🧐 @usddio sUSDD - 71% ROI @SkyMoney sUSDS - 99% ROI @global_dollar USDG - 91% ROI

Pendle @pendle_fi

Outsized fixed yield on institutional-grade stablecoins, with liquidity depth built to accommodate large allocators 🏦 Pendle's PT markets offer the rate certainty and capacity that onchain yield has historically struggled with, particularly for capital where predictability

5:36 AM · Jun 4, 2026 · 5.39K Views

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6 Replies · 2 Reposts · 38 Likes

And somehow, everyone is just winning in here.

If you have sUSDS, there’s not reason to do any of these 3 for a much better return with similar risk exposure:

Pendle Intern@PendleIntern

EVERYONE is winning in this @SkyMoney sUSDS market🤯 PT - 5.35% APY, higher than Sky Savings Rate (3.6%), plus it's FIXED yield LP - 15.76% APY, also significantly higher than SSR, zero IL when held to maturity YT - The biggest winner of them all. On track for +80% ROI now.

9:55 AM · Jun 3, 2026 · 3.39K Views

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8 Replies · 5 Reposts · 44 Likes

X Highlights

Why you should pay attention to sUSDD on Pendle:

Yes, the shiny new coins are turning all the heads, but let’s not forget some of these OGs that are cooking in the background too:

Strata@strata_markets

20%+ APY on @ethena USDe with senior protection. How? • Protected floor yield via Strata. • Fixed APY higher than sUSDe via @pendle_fi. • Leverage via @aave. PendAaveThena leveling up.

Pendle Intern @PendleIntern

While everyone's been turning to the new sexy RWA coins, the OG has been somewhat flying under the radar. Specifically, @strata_markets x @ethena PT-srUSDe: 👉🏻 4.71% Fixed APY, higher than sUSDe yield (3.8% APY) 👉🏻 Loopable up to 22% APY on @aave 👉🏻 $55M cap available still

12:51 PM · Jun 1, 2026 · 6.2K Views

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6 Replies · 6 Reposts · 53 Likes

sUSDS is the largest yield-bearing stablecoin. Pendle’s yield infrastructure means their users now have access to more strategies, including PT for the biggest HNW and institional clients and more interesting, YT for their Primes to hedge against mismatched duration risks:

Edrin Valecrest@EdrinValecrest

This Sky sUSDS market on Pendle is one of those updates that looks simple at first, but gets more interesting when you sit with it. sUSDS already earns the Sky Savings Rate, which is around 3.6% today. Now @pendle_fi adds a fixed yield layer where users can lock in around 5.3%

6:27 AM · Jun 3, 2026 · 23.3K Views

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30 Replies · 3 Reposts · 48 Likes

Pendle@pendle_fi

In addition, Pendle's yield infrastructure will also be integrated into Sky's ecosystem This integration creates a direct, seamless channel into Pendle's markets for Sky Protocol's power users, including their own Primes (Spark, Grove, Keel, Obex).

1:00 PM · Jun 2, 2026 · 1.36K Views

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1 Reply · 18 Likes

And last but certainly not least…how would you like to cosplay as a Brazilian mafia debt collector?

Pendle Intern@PendleIntern

In TV shows, the Brazilian gangs usually lend out money to desperate individuals to earn an absurdly high interest rate. You can now do the same on Pendle with @NestCredit nOPAL 💵 Except it's legal. And safer. 🔹PT fixed yield (10.27% Fixed APY) backed by short-dated, RWA

Plume @plumenetwork

Our nOPAL Market is live on @pendle_fi. Lock in fixed RWA yield until September 16, 2026, backed by Brazilian payment-network receivables working with Visa and Mastercard. Read the blog for details, and access the live market today. https://t.co/g0O9SeyKdC

3:24 AM · Jun 2, 2026 · 19.5K Views

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12 Replies · 11 Reposts · 105 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.