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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Wake up peeps it's RWA week on Pendle, with some exciting new additions to our lineup!!!

First one to be added: Sky Token Rewards USDS (27 Mar 2025)

With this, Pendies could trade and speculate RWA-linked yields, specifically $SKY rewards in this case (8.5% currently).

vePENDLE voting is live so be sure you reach for the Sky at https://app.pendle.finance/vependle/vote

More to come soon!

For more info, refer to: https://x.com/pendle_fi/status/1843637481838916103
RWA season on Pendle continues with another new addition - syrupUSDC (30 Jan 2025)

With this, Pendies will have direct access to Maple Finance's institutional yield + earn 3x Drips (with zero lockup) right from the get-go ๐Ÿฅž

vePENDLE voting is live so be sure to update your votes at https://app.pendle.finance/vependle/vote. More to come soon!

Like and RT: https://x.com/pendle_fi/status/1846190331970441648
GM Pendiddlers, it's a packed, packed week full of RWA + BTCfi launches, with our newest addition being - Sky's sUSDS (27 Mar 2025) โ›…๏ธ

Other new pools include:

- mPENDLE (26 Dec 2024)
- USD0++ (27 Mar 2025)
- Corn eBTC (27 Mar 2025)
- pumpBTC (27 Mar 205)

All of which will be announced publicly on X later this week.

vePENDLE is already live for all of these so be sure to update your votes at https://app.pendle.finance/vependle/vote

Like and RT: https://x.com/pendle_fi/status/1846536458297086198
Some pretty attractive stablecoin yields up for grabs, especially when you're in the market for short-term maturity Fixed Yield:

๐Ÿ”น PT-USD0++ | 22.65% Fixed APY | 13 days to maturity
๐Ÿ”น PT-sUSDe | 15.24% Fixed APY | 6 days to maturity
๐Ÿ”น PTsUSDe | 16.19% Fixed APY | 160 days to maturity
YT-syrupUSDC is trading at ~13.15% Implied APY.

Taking into account SYRUP, the actually Underlying APY is closer to ~21%, possibly more since Pendle is earning Drips at the maximum 3x multiplier.

Assuming 21% APY,

Long yield APY = ~370%
ROI = 55%

For more info, you can refer to Internโ€™s thread here https://x.com/pendleintern/status/1847110931186409921?s=46&t=FieW0CeKdjAlKll4NAwPig
GM everyone, Dolomite's dUSDC (26 June 2025) and dWBTC (26 June 2025) are LIVE!

Demand for dUSDC in particular has been on the rise, with Deposit APY surging as high as ~22% APY, which you can now enjoy on Pendle alongside 3x Dolomite Minerals.

P.S vePENDLE voting is already live for both pools so be sure to update your votes for the week!

Like and RT: https://x.com/pendle_fi/status/1851442370585465123
Why hello again, everyone ๐Ÿ‘ป

Some more new, never-before-seen markets on Pendle today:

1) Aave stkGHO (25 April 2025) on Ethereum
2) Mantle cmETH (13 Feb 2025) on Mantle - to be announced publicly tomorrow

stkGHO has been one of the best performing stablecoins in terms of yield, with APYs reaching as high as 20-30% in the past 3 months. And now on Pendle, the yield possibilities, potential expand ๐ŸŒŒ

vePENDLE voting is live for both stkGHO and cmETH so be sure to cast + update your votes accordingly

LFGHOOO: https://x.com/pendle_fi/status/1851611287605919939
PT-USDS (Sky Rewards) is now at ~7.895% Fixed APY.

So far, Underlying APY has maintained above Implied APY (which means YTs have been winning) but for PTs, here's an opportunity to:

1. Lock in a higher Fixed APY than 6.5% in Sky Savings Rate
2. Earn yield in pure USDS, just like Sky Savings Rate
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A very GM Pendies ๐Ÿ“ˆ

In the theme of Election Day, here are the new vePENDLE candidates for the week:

1. rsETH (26 June 2025) on Ethereum (to be announced later in the week)
2. rsETH (26 June 2025) on Arbitrum (to be announced later in the week)
3. spSILO (25 March 2025) on Arbitrum

With spSILO, Pendies can now trade, speculate and gain exposure to Silo's revenue, which is being distributed to spSILO at a floor of $100k/month in $ETH.

Every vote counts so be sure to do your part at https://app.pendle.finance/vependle/vote #MakeETHGreatAgain

Like and RT: https://x.com/pendle_fi/status/1854147007625240803
Cap for sENA has been increased to 200M sENA due to popular demand.

$ENA price has been on a rise and with a potential fee switch on the horizon, interest has picked up on the asset.

๐Ÿ”น 51%-69% LP APY
๐Ÿ”น 45% Fixed APY

Link to pool: https://app.pendle.finance/trade/pools/0x487e1cef7805cf0225dec3dd0f3044fe0fb70611/zap/in?chain=ethereum
Quick FYI rsETH 26JUNE2025 (Ethereum + Arbitrum) and eETH 26JUNE2025 (Ethereum + Arbitrum) are now live ๐Ÿ”ฅ

Some exciting announcements coming to you in the following weeks, so be sure to keep your eyes peeled ๐Ÿคซ๐Ÿ

Like and RT
rsETH: https://x.com/pendle_fi/status/1854327969575281091
eETH: https://x.com/pendle_fi/status/1854507375463739698
Notional PT leverage vaults let you earn leveraged PT Fixed Yield with Fixed Borrowing APY.

No variable rates. No dependencies on utilization%.

Fixed Yield + Fixed Rate Borrowing just means you'll be getting Fixed Yield on steroids ๐Ÿ’Š

For more info, check out Intern's post at https://x.com/PendleIntern/status/1854705196141887979, or just visit Notional's app directly at https://notional.finance/leveraged-pendle/mainnet
It's a Fixed Yield wonderland for stablecoins on Pendle now.

- sUSDe 27MAR2025 at 17.52% Fixed APY
- sUSDe 26DEC2024 at 19.23% Fixed APY
- USDe 26DEC2024 at 17.6% Fixed APY
- USDe 27MAR2025 at 16.63% Fixed APY

Combined with Euler, you can even loop PT-sUSDe 27MAR2025 up to >90% APY ($5.66M of liquidity available) - https://x.com/PendleIntern/status/1855798445052989641
Cap has been lifted sUSDe 27MAR2025 to 750M to accommodate the demand.

The highest stablecoin fixed yield (20.18% Fixed APY ) is now back and open for business ๐Ÿซก
GM, Zerolend eBTC (27 Mar 2025) is now live โœŒ๐Ÿป

Get all the same yield and points exposure from eBTC, all while earning additional ones on top from ZeroLend.

Side note - we also have a new long-dated sUSDe (29 May 2025) up and running, with >2,000% LP APY up for grabs if I might add ๐Ÿ˜‰

Like and RT: https://x.com/pendle_fi/status/1856864013029970374
Quick one Pendies, some LRT pools are getting a maturity "upgrade":

- Kelp agETH (26 June 2025)
- Puffer pufETH (26 June 2025)
- Bedrock uniETH (26 June 2025)
- Bedrock uniETH (26 June 2025) on Arbitrum

More maturity choices to cater to more needs and preferences ๐Ÿ”ฅ

Like and RT: https://x.com/pendle_fi/status/1857043849140470008
GMonday ๐Ÿซก

Kickstarting the week with another MEGA pool - Swell rswETH (26 June 2025)

vePENDLE voting is live so be sure to (re)cast your votes.

More to come soon as we gear up for another exciting news on the horizon!

Like and RT: https://x.com/pendle_fi/status/1858494122912563206
Great news peeps, we've added more Usual USD0++ pools to cater to your demand:

1) USD0++ (30 Jan 2025)
2) USD0++ (26 Jun 2025)

Similar to the existing Mar 2025 pools, both pools will accrue 6x Pills until the end of prelaunch campaign, after which USD0++ will start generating USUAL rewards (minimum target = RWA risk-free rate)

Like and RT: https://x.com/pendle_fi/status/1859400716638691591
For those looking for a good BTC farm ๐Ÿ‘‡๐Ÿป

Borrow APY for Lombard PT-LBTC is negative on Morpho at the moment (i.e. you're getting PAID to borrow WBTC).

At 86% LTV, max leverage/looping would yield 36% Net APY with PT-LBTC (4.91% Fixed APY currently).

Even at 90% utilization, Borrow APY will still only be ~0.32%, which would give a Net APY of ~33% still.
Curated by MEV Capital, the Pendle WBTC Vault on Morpho is designed to provide liquidity to BTCfi PT markets, allowing users to capitalize on the borrowing demand from PT owners.

Now, that same vault is also making its way to Pendle, opening up another dimension of yield strategies that lets Pendies further speculate and harness this demand:

pWBTC (27 Mar 2025)

Gentle reminder that the new pWBTC pool is already open for vePENDLE voting so be sure to do your thing there!

Like and RT: https://x.com/pendle_fi/status/1861393243231109277