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
eUSDe 14AUG2025 [Ethereum]
The existing eUSDe pool reached over $1B, and now everyone’s favourite stablecoin is back with a newer, longer maturity.
But wait, there’s more - the new eUSDe pool is also getting a boost in Ethereal Points (1.6x vs. 1.0x previously) so we could potentially expect even higher Fixed APYs.
Oh and keep an eye out for that new Aave/Morpho markets too 😉
USDS 14AUG2025 [Ethereum]
New USDS on Pendle and if you didn’t already know, this is the ONLY avenue to earn Spark Points at the moment.
As for what Spark Points lead to, we’ll leave that to your imagination 😉
Also for those who are stacking USDS in Sky Savings Rate, perhaps you might want to reconsider an alternative…
Other pools that went live last week:
wcgUSD 26JUN2025 [Base]
SuperETH 31JUL2025 [Ethereum]
stEUR 31JUL2025 [Ethereum]
RESOLV Airdrop Registration - Extended
Gentle reminder again to Pendies who’ve had any YT/LP positions in any of the Resolv USR/wstUSR pools, be sure to register your address for the airdrop claim by 25 May 2025 👇
Citadel Highlight - DeFiance Capital
Trades of the Week 🔥
0xda9 added $29.8M of liquidity (ZPI) to uniBTC 26JUN2025
0x73d added $7M of liquidity (ZPI) to wstUSR 25SEP2025
0xf28 added $6.5M of liquidity (ZPI) to rUSD 31JUL2025
0x63f bought another $5M worth of PT-sUSDE 31JUL2025 (up to $20.5M now)
0xe91 bought $3.1M worth of PT-LBTC 26JUN2025
Pencosystem
$950M and counting 🚀
And yes, PT-eUSDe got another bump in cap!
One-click loops unlocked for PT-rUSD 🔓
More RWA stablecoin PTs on Morpho!
Intern Insights
275% Long Yield APY for YT-wstUSR:
ATH for Pendle PT collateral:
How Pendle weathered all the cycles:
Noonsheet 🌕:
50% APY for PT-csUSDL looping on Morpho:
#1 DeFi mindshare:
ATH (fixed) yield up for grab for sKAITO:
Delta-neutral ETH farming strategy:
X Highlights
Aave 🤝 Pendle:
56% APY with PT-mEDGE 👀
Your very own Alfred on Pendle:
DeFi’s First Bond ETF:
TN Lee reveals the secrets behind Pendle:
283 reasons why YT-csUSDL warrants your attention:
Pendle Wins = Everyone Wins
Last but certainly not least… for my happiness sake, please ETH 🙏
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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