Pendle Intern's Notes
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Random ramblings of a cartoon character. Usually before his morning coffee too.
Needless to say - NFA.
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Mellow LRTs are offering the highest Fixed Yield for ETH at the moment. Liquidity is still fairly low vs. other pools but with the cap increase, we should see more flows soon.

Meanwhile, use LIMIT ORDERS to get around the price impact and secure the APY you want ๐Ÿ˜‰

- steakLRT | 21.79% Fixed APY | 17.08% LP APY

- amphrLRT | 19.91% Fixed APY | 14.66%

- rstETH | 19.47% Fixed APY | 22.9% LP APY

- Re7LRT | 18.85% Fixed APY | 22.82% LP APY
Pendle Symbiotic arc continues! This time with Ethena in the mix to bring you:

- rsENA (26 Sep)
- rsUSDe (26 Sep)

Fun fact - since ENA is pretty much the only asset that hasn't reached its cap on Symbiotic, it'll be the first and only asset that earns Symbiotic Points on Pendle (for now until the cap increases for the others)

Existing rsENA + rsUSDe owners can consider LP-ing on Pendle to squeeze out those extra fees and yield on top

https://x.com/pendle_fi/status/1808122540646338671
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Alright Pendies, Renzo REZ is now live on Pendle and there's no second best in racking up those ezPoints

For reference, YT-REZ is about 143x and 25x more efficient than $ezETH and $REZ for ezPoints ๐Ÿซก

Shoutout to the 20% Fixed APY too for PT-REZ.
Ho hoooo so if you didn't already know, Symbiotic just announced a cap increase ~30mins ago, right in time for our new launch for Renzo x Mellow pzETH ๐Ÿ˜‰

TL;DR This is a Symbiotic LRT by Renzo deployed via Mellow, and Pendies will be able to earn 1x Symbiotic Points + 2x Mellow Points + 3x ezPoints (while stocks last)

https://x.com/pendle_fi/status/1808480404355383380
Some big short-term, fixed APY opportunities for Ethena sUSDe/USDe:

๐Ÿ”นUSDe (25 July) - 19.64%
๐Ÿ”นsUSDe (25 July) -18.97%

Slightly longer maturity:

๐Ÿ”นKarak USDe (26 Sep) - 20%
๐Ÿ”นKarak sUSDe (26 Sep) - 19.12%

For those holding sUSDe in particular, with underlying APY perhaps going down on the horizon thanks to a slowed market, perhaps consider securing a higher, short-term fixed APY.
We're about ~2 weeks out from the 25 July maturity now, and whales have already been spotted circling these PTs - https://x.com/PendleIntern/status/1810884070005780703

Some other Fixed APY opportunities to consider:

๐Ÿ”น Re7LRT - 19.55%
๐Ÿ”น USDe - 17.46%
๐Ÿ”น steakLRT - 18.57%
๐Ÿ”น rstETH - 18.41%
๐Ÿ”น rswETH (Swell L2) - 11.69%
All rise for King Karak LRT!

EtherFi's weETHk (26 September maturity) has finally arrived on Pendle ๐Ÿ‘‘

EtherFi joins forces with Veda once more to expand into Karak restaking territory. The result? A king's ransom featuring 3x Karak Points, 3x EtherFi points and 4x Veda Points.

From now till 14 July, YT and LP will also get to earn a portion of 200k bonus ETHFI rewards.

Link - https://x.com/pendle_fi/status/1811027439440789793
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If you're wondering where and how else you can juice up your PT Fixed APYs, our fren over at Yearn is featuring some pretty inviting numbers for their PT Rollover Vaults ๐Ÿ‘€

P.S. Pendle domain has been secured but please ensure the address bar is showing app.pendle.finance before proceeding.

For more info, check out
https://x.com/pendle_fi/status/1811561786107396482
Post Mortem regarding the Squarespace incident is now up ๐Ÿ‘‡๐Ÿป

https://x.com/pendle_fi/status/1811683909509558562
Happy Monday, Pendies! Some quick note about Pendle Earn ๐Ÿ‘‡๐Ÿป

We've decided to deprecate the Earn UI, as part of our efforts to streamline our platform + prioritize the development of Pendle V3.

This is simply a UI change, and all deposits/yields will still function as intended. Earn will also remain accessible for a period of time.

For more info, you can refer to https://x.com/pendle_fi/status/1812834595429319001
Ahhhhhh it's Pendle x Ethena Oktoberfest, Pendies!

Fresh USDe and sUSDe pools with 24 October fresh out of the Pendle tap, boasting the highest Sats multipliers to-date ๐Ÿบ

Pendies still sitting in the 25 July pools can look to get an early headstart in liquidity transfer to capture fees ahead of the migration transactions.

Some pretty good Fixed APYs up for grabs too so be sure to get some Limit Orders going to scoop up your dream PTs

Link - https://x.com/pendle_fi/status/1813744095963271456
We had Oktoberfest earlier today, and now it's Boxing Day Ethena pools on Pendle!

๐Ÿ”นUSDe (26 Dec) on Ethereum - 30x Sats/day
๐Ÿ”นsUSDe (26 Dec) on Ethereum - 25x Sats/day
๐Ÿ”นUSDe (26 Dec) on Mantle - 30x Sats/day

Same playbook as the Oktoberfest pools - consider migrating liquidity early to capture the fees ahead of time + limit order for PTs ๐Ÿซก

Link - https://x.com/pendle_fi/status/1813921066441679137
New Mellow LRT pools with renewed maturity (26 Sep) are now up and running ๐Ÿ”ฅ

- rstETH
- Re7LRT
- steakLRT
- amphrETH

We've also added Amphor's Symbiotic LRT Vault, amphrLRT, to the mix. which will give you exposure to all the above and more.

For more information, check out https://x.com/pendle_fi/status/1815732859329724839
Whale activities have main congregated around a few pools - sUSDe (Sep), sUSDe (Oct) and EtherFi x Symbiotic weETHs - https://x.com/pendle_fi/status/1816343187268723106

Liquidity depth in some of these pools has also been great, with limit orders up to ~$14M per pool on standby to absorb any potential PT demands with minimal price impact - https://x.com/PendleIntern/status/1816077401732047048
Guess who's back?

For the longest time, sUSDe (26 Sep) has been at max cap but as fate would have it, there's about ~$47M in availability now.

Days to Maturity - 57 days
Fixed APY - 14.65%
LP Max APY - 23.02%

Pool Link: https://app.pendle.finance/trade/markets/0xd1d7d99764f8a52aff007b7831cc02748b2013b5/swap?view=pt&chain=ethereum&py=output
Looked into YT-sUSDe (26 Sep) and things seem to be looking plenty positive:

In just ~1 month (end of Sats campaign):

Projected ROI = 52%
Projected APY = 1,314%


This is assuming sUSDe yield averages ~10.3% APY until maturity, which is the current figure.

You can learn more about this at https://x.com/PendleIntern/status/1818160594559934784

P.S. $32M cap left at time of writing
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New ENA (31 Oct) pool is now live ๐Ÿ”ฅ

- 30x Sats/day
- 1 YT-ENA functions similarly as locked 1 ENA Sats boosting requirements

Read more at - https://x.com/pendle_fi/status/1818266265317994868
Those on the hunt for the next short-dated Fixed Yield for stablecoins could consider USDe (Zircuit)

- 15.25% Fixed APY
- 19 days until maturity
- Ample cap space + earlier maturity vs. sUSDe (26 Sep)

https://x.com/PendleIntern/status/1819235169934758005
Some new, exciting launches lined up for the week โœจ


1. mETH - Mantle Liquid Staking Protocol's very own LST

Earn 25x Powder/day + mETH staking yield

2. USD0++ - Usual Money's T-Bill backed stablecoin, Pendle's newest RWA addition (to be announced tomorrow)

The liquid, locked version of USD0. Earn 5x Pills/day right from the get-go + a dynamic, loyalty multiplier on top


For more information about mETH, check out https://x.com/pendle_fi/status/1821166923247448566
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New RWA addition PT-USD0++ is going at ~18% Fixed APY, one of the highest Fixed Yields for stablecoins on Pendle at time of writing.

Decent liquidity also means whales can ape in with size up to ~$1M to secure 16.45% Fixed APY, which still puts it the top of the stable list.

Higher alternative would be sUSDe (Karak) at 18.49% Fixed APY.