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.
⬆ 🚀 Yield Opportunities on Pendle
What do Shards and Points have in common?
Produces double-digit fixed yields on Pendle.
ETH: fixed yields as high as 30-40% APY
USDe (launched this week): fixed yields as high as 70-100% APY
Pool Launches
For the first time in Pendle’s history, 3 pools were launched this week:
1) pufETH 27 June 2024 by Puffer Finance
2) USDe 4 Apr 2024 by Ethena Labs (YT provides exposure to leveraged Shards farming, plus additional 10x bonus multiplier from Ethena – up to 200x in total)
3) uniETH 27 June 2024 by @Bedrock_defi x @Ambergroup_io
The Pendle Effect on Growth
Pendle has proven to be a liquidity & TVL booster for LRT protocols, evident from Pendle’s dominance @ 34% of the total LRT supply
Pendle DeFi Integrations
PT-eETH as collateral live on Silo Arbitrum
List of all major Pendle DeFi integrations (bookmark-worthy!)
DeFi integrations allow for even more composability with Pendle assets, leading to new trading strategies.
Pendle Yield Trading Strategies
PT USDe carry trade strategies with Pendle fixed yields
YT rsETH > KEP trading strategy
PT-eETH looping strategy
Pendle Intern Insights
If you already hold USDe, might as well LP
Trades of the Week 🔥
Swap 967 weETH ($3.1M) for 1,046 PT-weETH-25APR2024 (Arbitrum) @ ~40% fixed APY
Swap 100 ETH ($330k) for 1,829 YT-ezETH-25APR2024 (Ethereum) @ 18x points exposure
Swap 1.5M USDe for 1.57M PT-USDe-4APR2024 (Ethereum) @ 50% fixed APY
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.
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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