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.
Another Triple Pool Launch Week
Ethena’s sUSDe 25 Apr 2024 (Ethereum) – $50M cap filled, PT/YT trading only available for existing SY holders.
Renzo’s ezETH 27 Jun 2024 (Arbitrum) – finally, a third Arbitrum LRT pool on Pendle after eETH and rsETH!
Silo Finance’s sETH (PT-eETHSilo) 25 Apr 2024 (Arbitrum) – Silo enjoy000rs, this one’s for you 👀
Pendle x Ethena 🤝
Pendle DeFi Integrations
Silo Finance’s adoption of Pendle’s PT-eETH as collateral marks one of our many integrations across DeFi. Pendle’s PT tokens uniquely represent an asset that appreciates towards maturity (vs its underlying token), a characteristic that makes it highly suitable for collateral on money market protocols.
Here is a list of all major Pendle DeFi integrations (bookmark-worthy!)
Trades of the Week 🔥
Swap 1,052 rsETH ($3.7M) for 1,136 PT-rsETH-27JUN2024 (Ethereum) @ 26% fixed APY
Swap 1,996,030 USDe for 2,103,783 PT-USDe-4APR2024 (Ethereum) @ 68% fixed APY
Swap 60,000 USDe for 1,047,226 YT-USDe-4APR2024 (Ethereum) @ 17x shards exposure
LP 1,500 uniETH ($5.7M) into uniETH Pool 27 Jun 2024 (Ethereum)
vePENDLE
ICYMI, vePENDLE (locked PENDLE) holders earn swap fees, paid out in ETH.
In other words, vePENDLE = ETH real yields (as high as 200% APY)
vePENDLE stats dashboard:
Twitter Highlights
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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