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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New Open Eden cUSDO (20 Nov 2025) is now live, Pendies!!!

And with it the highest Bills multipliers anyone's seen - 20x for YT + 12x for every $1 of LP

But hurry up, these mults are only available for a limited time 😉

Link: https://x.com/pendle_fi/status/1927892700696826192
GM Pendiddlers, some of you may have already noticed that there's been an update in the way PT and YT are named.

Previously, only the [Underlying Asset] is displayed in the name.

Moving forward, [Underlying Asset] (Accounting Asset) will be new convention for improved clarity and transparency.

For example:
- Old name: PT-sUSDe
- New name: PT-sUSDe (USDe)

Note that this is only a name change. There will be NO changes to how the protocol and our assets function.

For more info, check out https://x.com/pendle_fi/status/1929886092486160873
G to the Em Pendiddlers, the first Euler markets are now live on Pendle! Specifically:

- USDC (Euler Yield) 18DEC2025
- ETH (Euler Prime) 18DEC2025

With these, you'll be able to speculate and trade the markets' Lending APY + rEUL rewards.

Other markets going live this week with vePENDLE voting:
- AIDa.USDC (14 Aug 2025)
- AIDa.USDT (14 Aug 2025)
- liquidBeraETH (28 Aug 2025)
- liquidBeraBTC (28 Aug 2025)
- USDe on BNB Chain (7 Aug 2025)

Like and RT: https://x.com/pendle_fi/status/1930248244912894382
GM Pendiddlers ~

To anyone here holding >= $5,000 in aggregate in Pendle PT, YT, or LP in Top 3 markets by TVL on Mar 15, 2025, 23:59:59 UTC, and/or at least >=$5000 vePENDLE at the same snapshot, you might be eligible for SPK airdrop.

Note that this is a separate distribution, unrelated to your SPK points 😉

Be sure to check for your freebies here: https://app.spark.fi/spk/airdrop
GM Pendies!

If you are a Top 500 vePENDLE holder, you may qualify eligible for the TAC First Force NFT mint

More info at https://x.com/pendle_fi/status/1935544162679669204

P.S. Cutoff for registration in ~4.5 hours so be sure to hurry up!
GM Pendiddlers, new BOLD pools are up and running!

- sBOLD (27 Nov 2025)
- Yearn ysyBOLD (27 Nov 2025)

BOLD is Liquity's yield-bearing stablecoin and both of these are auto-compounding vaults run by K3 Capital and Yearn respectively.

For more info, check out: https://x.com/pendle_fi/status/1935684063635050924?s=46
More Pendaave pools, Pendiddlers!

• stkaUSDC (30 Oct 2025)
• stkaUSDT (30 Oct 2025)

These are essentially USDC/USDT staked in Aave's Umbrella Safety Module, allowing you to earn additional rewards on top of the usual deposit APY.

Do note that there may be a chance that these stakes are slashed in the event of a shortfall to cover the deficit, leading to negative yield scenarios (i.e. loss for YT, PT, and/or LP)

Read more at: https://x.com/pendle_fi/status/1938038626174243133
Hi, it's me again Muchachos, here to tell you that the first Re pools are now live on Pendle:

🔹 reUSD (18 Dec 2025)
🔹 reUSDe (18 Dec 2025) | 5x Ethena Sats

Stablecoins deposited on Re Protocol are deployed into various on-chain reinsurance contracts, allowing users to earn a higher yield.

Important - Since reUSD and reUSDe are exposed to underwriting risks, there will be potential negative yield scenarios in the event insurance payouts are triggered.

Like and RT: https://x.com/pendle_fi/status/1938220467753767397
Sup Pendiddlers, more Aavendle pools this week woohooo

stkGHO (30 Oct 2025)

Similar to its cousins from last week, this staked GHO is part of Aave's Umbrella Safety Module. Users get to earn more GHO rewards but in exchange for this, stakes may get slashed to cover any potential deficits in the event of a shortfall.

Other pools going live this week which are already up for vePENDLE voting:
- upUSDC (2 Oct 2025)
- iBGT (25 Sep 2025

Like and RT: https://x.com/pendle_fi/status/1940372338459148403
GM Pendies, USDS (SPK Farm) 25 Sep 2025 is now live!

With this, Pendies could now earn SPK rewards directly, which is different from the existing USDS (14 Aug 2025) pool that earns Spark Points (not SPK Rewards).

You can learn more at https://x.com/pendle_fi/status/1942929757961900316

Other new pools going live this week, which are already available for vePENDLE voting:
- Terminal tETH (25 Sep 2025)
- Terminal tBTC (25 Sep 2025)
- Terminal tUSDe (25 Sep 2025)
- USDf (29 Jan 2026) - with Falcon Miles 🦅
- Yearn aGHO-USDf (29 Jan 2026) - with Falcon Miles 🦅
- lstRZR (18 Dec 2025)
GM Pendies, if you registered for the Folks Founders Pass whitelist previously (https://x.com/pendle_fi/status/1925352287293382940), here's a reminder that the GOLD Founders Pass mint will be happening later this week

More info at: https://x.com/FolksFinance/status/1944772914345127984
With PT-sUSDe (July 2025) maturing in ~9 days, there’s a clear game-theory angle to migrating early:

🧩 Unless you were a late buyer, July PTs are already close to being fully-extracted in value
🧩 Sep PTs are offering a super decent 11.11% Fixed APY now
🧩 Migrating now helps you front-run ~$1.9B of capital queuing to rotate at maturity

https://x.com/PendleIntern/status/1947122092551635391
GM Pendiddlers,

HyperWave hwHLP (25 Sep 2025) is now live on Ethereum

hwHLP is a liquid version of HLP on HyperEVM, a vault powering market making and liquidation on the HyerLiquid exchange - with an exclusive 4x Wave Points boost for Pendle.

Think of this as a...teaser for what's to come next 😉

In other news, we'll also be launching RocketPool rETH (18 Dec 2025) on Base, which will be specially incentivized with rewards from AlphaGrowth (to be announced later this week)

Both pools are already live for vePENDLE voting BTW.

Like and RT: https://x.com/pendle_fi/status/1947990129756545092
Wooohooo, exciting week ahead of us, Pendiddlers!

To start, we have another Converge pre-deposit market today - Strata pUSDe (16 Oct 2025)!

Strata is a risk tranching protocol in the Ethena ecosystem, and its pre-deposit phase currently allows users to earn 60x Strata Points + 50x Ethena Sats + 1x Ethereal Point (Pendle special 😉) all in one go.

P.S. vePENDLE voting is already live!

Like and RT: https://x.com/pendle_fi/status/1950164482371846431?s=46
Bowowowowowowww, Pendle is now live on HyperEVM!

To kick things off, we're launching with the following pools (plus a special Pendle exclusive bonus 😉):

• Hyperbeat USDT (18 Dec 2025)
• Hyperbeat Ultra Hype (18 Dec 2025)
• Hyperbeat beHYPE Pre-deposit (30 Oct 2025)
• Kinetiq kHype (13 Nov 2025)

Pools are already live for vePENDLE voting FYI.

For more info, check out: https://x.com/pendle_fi/status/1950526842634703177?s=46

P.S There’s also a new Nov 2025 maturity for Ethena sUSDe!
GM, Pendiddlers 🫡

Those of you with liquidity sitting in 14 Aug 2025 pools, gentle reminder that they'll be maturing in ~2 days.

Looking for the next best yield to park your precious funds?

USDe (Sep 2025) and tUSDe (Sep 2025) are both offering >15% Fixed APY now, ideal for those coming from eUSDe (Aug 2025).

USDS-SPK (Sep 2025) is offering 8.58% Fixed APY, higher than both Sky Savings Rate and USDS (Aug 2025) for those coming from this maturing pool.

If you're looking to front run ahead of the migration crowd (which might depress the yields en masse), you can easily do so by swapping your maturing PTs for any other PTs of choice.

Like and RT: https://x.com/pendle_fi/status/1955162071345373459

P.S. Keep an eye out for that PT-USDe (Sep 2025) market on Aave today eh 😉
The Hyper momentum isn’t slowing down Pendiddlers, 4 new pools just dropped on Pendle:

- Kinetiq vkHYPE (13 Nov 2025)
- Looped LHYPE (13 Nov 2025)
- Hyperlend wHLP (18 Dec 2025)
- Hyperlend HYPE (18 Dec 2025)

Pools are already live so be sure to show some love to them with your vePENDLE votes aye?

The HyperEVM arc continues, with more on the way soon 🫡

P.S. ICYMI USDe (27 Nov 2025) is also now live, perfect for those looking to rollover/migrate from eUSDe (14 Aug 2025).

Like and RT: https://x.com/pendle_fi/status/1955615372884975621?s=46
Fellow HYPE fans, and I know there are a lot of you out there...

PT-vkHYPE is at ~20% Fixed APY now.

If you're holding a spot position, might as well swap it for PT to earn more:
» Amplified ROI when price goes up
» Cushioned downturn when price goes down

More info here ladies: https://x.com/PendleIntern/status/1957642047176995087