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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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:
Β» Amplified ROI when price goes up
Β» Cushioned downturn when price goes down

More info here ladies: https://x.com/PendleIntern/status/1957642047176995087
New week, new HyperEVM pools, Pendiddlers!

1. HyperBeat wVLP (13 Nov 2025)
2. Hyperwavefi hwHYPE (18 Dec 2025)

Do note that for wVLP, deposits will be deployed into Hyperbeat USDT in the current pre-mainnet phase, generating yield and rewards until HIP-3 goes live.

More info at https://x.com/pendle_fi/status/1958152098014728541
Implied APR for ETHUSDT on Boros is pretty crazy now at 8.33% Implied APR.

For ETH cash-and-carry traders, here's your chance to lock in your funding rate yield at 8.33% Implied APR.

Link: https://boros.pendle.finance/markets/3
Oh mama πŸ₯΅
GM Pendiddlers, more HyperEVM pools this week!

This time we welcome Staked Hype's LST stHYPE (26 Feb 2026) into our ranks.

vePENDLE voting is already live for the pool!

Like and RT: https://x.com/pendle_fi/status/1960688818706936101?s=46
You can now earn up to 21% Fixed APY from Falcon PT-sUSDf (25 Sep 2025).

Pretty decent liquidity depth if you're looking to size in:

$1M β†’ 20.4% Fixed APY
$3M β†’ 19.64% Fixed APY
$5M β†’ 19.2% Fixed APY
$10M β†’ 18.55% Fixed APY
$15M β†’ 17.92% Fixed APY
$20M β†’ 16.29% Fixed APY

Link to pool: https://app.pendle.finance/trade/markets/0x45f163e583d34b8e276445dd3da9ae077d137d72/swap?view=pt&chain=ethereum&tab=book
Woohoooo more new pools this week!

1. cUSD (29 Jan 2026) - Another Cap Money pool from earlier this week, which has quickly become one of the highest volume markets. Exclusive 20x Caps for the first 6 weeks, which will revert back to 10x from 13 October 2025 onwards

Link: https://x.com/pendle_fi/status/1962500739894514111

2. dnHYPE (20 Nov 2025) - Hyperbeat pool which represents a pooled delta-neutral position on HYPE. Earn yield + 1x Hyperbeat Hearts + an additional 300k Hearts split proportionately to TVL across yield tokenization protocols

LInk: https://x.com/pendle_fi/status/1963225514384236881?s=46

Both pools are already live for vePENDLE so happy voting!
Wow P&L card for Boros is now live, this will be fun hehehe

https://x.com/boros_fi/status/1963482059210723708
GM, USDe just got some new expansions on Pendle:

β€’ USDe (11 Dec 2025) on Base
β€’ USDe (11 Dec 2025) on Arbitrum - just in time for the DRIP Season 1 πŸ˜‰

Reminder that vePENDLE voting is already live so be sure to update your votes for the week!

Like and RT: https://x.com/pendle_fi/status/1965037453955494161?s=46
Welcoming some new pools, old friends, Pendiddlers ~

1. Falcon sUSDf (29 Jan 2026)
2. USDS-SPK (18 Dec 2025) - to be announced later

With these, Pendies can now keep your yield streak going by migration/rolling over from the respective 25 Sep 2025 pools.

vePENDLE voting is already live for both pools

Like and RT: ttps://x.com/pendle_fi/status/1965399847395336194
Woohooo new Terminal pools with renewed maturities are now live, just in time for those looking to rollover/migrate from the 25 Sep 2025 pools:

- tUSDe (18 Dec 2025)
- tETH (18 Dec 2025)
- tBTC (18 Dec 2025)

Like and RT: https://x.com/pendle_fi/status/1965762236108169236
Today, we take our first step in making PTs a truly universal, omnichain collateral in DeFi.

Cross Chain PTs are now LIVE

To start, this will be made available for PT-USDe (Nov 2025) on Avalanche. where users can already start lending + borrowing on Silo and Term Labs.

Minting + bridging + redemption + all cross chain Pencosystem integrations will be accessible from a single, unified UI: https://app.pendle.finance/trade/crosschain-pt

For more info, check out our thread linked below dπŸ‘‡

Like and RT: https://x.com/pendle_fi/status/1966502450053198093
Welcoming back a really good old pal of ours - gmETH (29 Jan 2026) by GMX!

Earn, speculate and trade fees from the ETH/USD (WETH-WETH) market on GMX with our new pool

Like and RT, or else.... πŸ‘‰ https://x.com/pendle_fi/status/1967766602335887640
It’s been ~1.5 months since we launched Boros and we’re proud to announce that we are out of our public beta phase!

That's right, we’re officially launching Boros in full today WOOTS πŸš€

With full public access, we’re also opening up a referral system for Boros, as well as increases to OI caps, vault caps and leverage.

For more info, check out the article below.

X: https://x.com/boros_fi/status/1968517823086637096
Medium: https://medium.com/boros-fi/boros-v1-0-3d29d5a0fac8

Here's Intern's refcode for those looking to get started on some rebates hehe: https://boros.pendle.finance/join/BIGDK
ETH funding rate on Hyperliquid at time of writing = -28% APR (NEGATIVE funding)

Boros Implied APR = 10.84% APR

If you had shorted ETHUSD-Hyperliquid at any point about 10.95% Implied APR, you would have won at least 158/161 latest settlements πŸ‘€

https://x.com/boros_fi/status/1970009484568236404
Sup Pendies. Did you know that we're all just one click away from getting up to ~43% APY with Ethena PTs looping?

All thanks to Aave opening up the cap space for our PT markets.

Links πŸ‘‡πŸ»

PT-sUSDe (Nov 2025) on Aave: https://app.aave.com/reserve-overview/?underlyingAsset=0xe6a934089bbee34f832060ce98848359883749b3&marketName=proto_mainnet_v3

PT-USDe (Nov 2025) on Aave: https://app.aave.com/reserve-overview/?underlyingAsset=0x62c6e813b9589c3631ba0cdb013acdb8544038b7&marketName=proto_mainnet_v3

One-click looping on Contango: https://app.contango.xyz/strategies/farming/usd-stablecoins
sUSDe Underlying APY = 7.48%

sUSDe (Nov 2025) Implied APY = 7.25%

sUSDe past 3 months = around 8% APY

And yes, Season 5 Ethena has been confirmed.

"While prior results are not necessarily indicative of future outcomes, YT buyers at this level (and even ~100-200bps above) have not historically realized losses"

Ladies and gentlemen, it would seem that free $ENA airdrop is now on the Pendle menu 🫑

https://x.com/PendleIntern/status/1971101467772866738