Pendle Print #55
Strategic Yield Reserve
Pendle is the ultimate yield market in DeFi – fixed yields, floating yields, leveraged yield trading, “yield-neutral” liquidity provision.
The objective of The Pendle Print is to distill the developments in DeFi yield markets into a succinct and actionable format.
New Pools
Pendle is officially on Sonic!
Our very first pools will be from Rings Protocol:
stkscUSD (29-MAY) → 2x Rings | 12x Sonic | 3x Veda Points
stkscETH (29-MAY) → 1.5x Rings | 8x Sonic | 3x Veda Points
A quick TLDR on how these markets work:
LevelUSD has arrived!
lvlUSD (29-MAY) → 40x Level XP + Symbiotic Points
slvlUSD (29-MAY) → Yield + 20x Level XP
In short, lvlUSD is the native, non-yield bearing stablecoin.
slvlUSD is the staked, yield-bearing version.
Resolv’s USR (29-MAY) on ETH mainnet
Like its cousin on Base, this USR pool will also be getting a 45x multplier for Resolv Points - for every YT and $1 worth of LP.
PSA to LPs – USDe (31 July 2025) Migration
There is new (optimized) USDe 31-JUL pool that existing LPs of the previous pool will have to migrate to. The new pool has been configured with a more optimal range to facilitate trading, plus it comes with a higher bonus of 60x Sats.
Action required for LPs only; no action needed for existing YT/PT as these are already tradable in the new pool.
Trades of the Week 🔥
0xac3 added $3.3M worth of liquidity into sUSDe 27MAR2025
0xf93 added $3M worth of liquidity into eUSDe 29MAY2025
0x409 bought $2M worth of PT-USDe-27MAR2025
0xaf4 bought 10 LBTC of PT-LBTC-27MAR2025
0x07e bought 6.3 liquidBeraBTC worth of PT-liquidBeraBTC-10APR2025
Intern Insights
Some Pendle plays for stablecoin szn:
It literally pays to be early in new pool launches (feat. stkscUSD 29-MAY)
clisBNB is picking up. Remember, YT-clisBNB (also the SY portion of Pendle LP) will earn:
Launchpool APY - claimable in BNB
BNB Staking APY - claimable in slisBNB
Twitter Highlights
Double digit APYs on Sonic pools…
… and stablecoin/USD-denominated pools.
$PENDLE is available on Sonic, bridge available via the Sonic Gateway.
@_whalebird shared our 2025 roadmap on an X Spaces session. For a full recap, read the Pendle 2025: Zenith roadmap here
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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