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 Markets on Pendle
GM and happy Friyay 🌅 Paradigm-backed Symbiotic (restaking infrastructure layer similar to EigenLayer and Karak Network) has arrived on Pendle!
Just yesterday, Pendle kickstarted our Symbiotic arc with 4 LRTs, powered by Mellow Finance:
Note: Mellow Finance is a platform that enables the curation and deployment of Symbiotic LRTs
Some quirks to take note of for the Symbiotic x Mellow pools 👇🏻
Many of these pools hovered at 85%-95% Fixed APY initially during release, which saw many Pendies quickly capitalizing on them, despite the low liquidity
Hot tip: pay attention to cap increases and new pool launches in the future
Also another Pendle Print special - watch out for this later today eh?
As shown by many of you and Mr.Sun, longer indeed isn’t always better.
With this in mind, we’ve also launched a short-dated EtherFi eETH (25 Jul) pool - perfect for those looking transfer your liquidity from the soon-to-mature 27 June pools, which brings us to our next topic…
1-click Liquidity Transfer ⚡️
Hopping between Pendle pools is now easier than ever with our new 1-click liquidity transfer feature.
This can be accessed directly on the respective pool pages. For instance, if you’re an existing LP in the EtherFi eETH (27 June) pool, you can initiate liquidity from its pool page.
Just remember to watch that price impact and toggle Zero Price Impact Mode if needed!
EIGEN Season 1 Phase 2
Quick reminder that Season 1, Phase 2 EIGEN is now claimable here.
This includes all the unresolved smart contraction interactions (e.g. Pendle) up to 15 March 2024.
Arbitrum Season Back on the Penu
That’s right, ARB is back up and running on Pendle, with 1,000,000 ARB up for grabs across select Pendle pools and Pencosystem partners.
To find out more, you can check out the Arbitrum Dashboard here.
Trades of the Week 🔥
Soon-to-mature 27 June pools continue to dominate interests, with whales eagerly scooping up these ultra short term fixed yield PTs:
0x435 swapping 18,000 ETH for 18,076 PT-eETH (27 June) | 10 days to maturity
0xc4d swapping 2,457 ETH for 2,475 PT-pufETH (27 June) | 13 days to maturity
0x00b swapping $4.5M for 4.86M PT-sUSDe (27 June) | 10 days to maturity
It’s worth noting that the new Symbiotic pools have also been garnering much interest, with 3/4 pools having already reached the cap limits at time of writing. Once Symbiotic and Mellow increase the caps, we should see more trades flowing, allowing LPs to capitalize more on fees.
Penconomy
Can’t keep track of all your PTs? No problem. AdapterFi’s new auto-compounding PT vaults let you auto-rollover your PTs to make sure your money will always be working hard.
New Pendle vaults are also in the works over at Yearn:
And good news for 🇸🇬 - PENDLE is now available on Coinhako:
Intern Insights
Refresher on how Pendle Points Party:
How to make full use of your vePENDLE:
Some quick ramblings about gripto content creation:
Twitter Highlights
Ho ho, it seems like Pendle is finally getting some TradFi attention:
Interesting strategy that lets you long 1.2x PENDLE & earn an overall APY of ~96.6% APY:
A full case study on how Pendle has improved our trade routing with Shadow:
Friends showing some Pendle love on air:
And last but certainly not least - POV: taking flight with Pendle
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.
pendle