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
xSILO 18DEC2025
USDC (Silo Greenhouse) 18DEC2025
Important Highlights ✨
Highlights from this insightful piece by bossman:
PT as collateral totaling $2.7B now, with over $2.1B on Aave
Citadel for non-EVM PT is now “cross-chain PT” targeting both EVMs and non-EVMs, allowing these fixed yield money legos to be deployed elsewhere - with or without the presence of Pendle in that ecosystem
Pendle Permissioned getting cooked to onboard KYCed clients
LP as collateral off to a quick start at $58M after just one week, allowing different use case from PT collateral that since it maintains points/airdrop upside. More money market support soon
Trades of the Week 🔥
0x27e added another $23.2M of liquidity (ZPI) to SolvBTC.BNB 18DEC2025
0x920 bought and looped ~$46M of PT-sUSDe 25SEP2025
0xa25 bought $6.3M of PT-sUSDe 25SEP2025
0x73d bought $5.7M of PT-sUSDe 25SEP2025
0x690 bought $5M of PT-sUSDe 31JUL2025
Pencosystem
PT-sUSDe 25SEP2025 is now live on Aave!
With this new market, Pendle now has ~$2.46B of PT collateral on Aave:
More PT-sUSDe 25SEP2025 '“hacks” 👇
SMILE 📸
New airdrop snapshot for YT-fxSAVE:
Treehouse tETH now on Apostro ETH Core Vault on Silo 🥜
Claims for Season 10 Drips is now live:
Intern Insights
A great PT migration game theory “hack” for those holding PT-sUSDe (July 2025) 👇
$92M Terminal TVL on Pendle. 76% 💪
DeFi is no longer DeFi… I’ll explain 👇
Ultra short-term, ultra high-yield PTs anyone?
The market sentiment beta play:
99% win rate for this YT:
X Highlights
If he could only pick ONE project it would be this 👀👇
Citadels is the ultimate DeFi gateway to structured products:
The ultimate DeFi 3P:
Did someone order 13% Fixed APY for stablecoin?
😍😍😍😍😍😍😍
3 mins to master the art of Pendle YT:
Pendle = Stablecoin Beta Exhibit A:
Exhibit B:
PEN-DUL
And last but certainly not least…
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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