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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Limit Order (LO) Incentives in the pilot phase has been a huge success and with that, we're finally ready to roll out in full to EVERY pool.

LO Incentives are also fully integrated into AIM, so reward allocation now happens automatically and optimally without any manual intervention.

More info at https://x.com/pendle_fi/status/2039256743533019251

Link to Docs: https://docs.pendle.finance/pendle-v2/ProtocolMechanics/Mechanisms/Incentives
We've just published the first Pendle Priority Report! A quarterly briefing prepared exclusively for Pendle's Priority clients.

Priority membership is automatically extended to anyone with over $1M deployed on Pendle. You can set up your Priority access and read the report at https://app.pendle.finance/vip/board

For more info: https://x.com/pendle_fi/status/2039340444577067145
WTIOIL and BRENTOIL markets will reopen at 10AM GMT on Boros.

Both markets will operate in CLO mode briefly before opening fully. Maximum lev has been reduced from 1x to 0.2x for new positions.

Traders should be aware that counterparty depth remains thin and auto-deleveraging risk remains elevated. Existing and new short positions may be closed before reaching their intended exit.

For more info, refer to: https://x.com/boros_fi/status/2041418409934741564
What this means - Long Yield APY is more indicative of actual return for YT-USDG entries now since incentives actually last till maturity.

TVL increase may still dilute rewards, but +$240K is quite a sizeable bump over the last round, so there's quite a bit of buffer for that too.

DYOR muchachos.

https://x.com/PendleIntern/status/2041685350763131082
New RWA additions from Saturn:

- USDat (Aug 2026): non-yield bearing stable backed by US Treasuries

15x Points for LP | 30x for YT

- sUSDat (Aug 2026): yield-bearing, backed by STRC, yield is composed mainly of dividends

5x Points for LP | 10x for YT

Like and RT: https://x.com/pendle_fi/status/2043690781278605806
Quick analysis of the Saturn PTs, including a brief explanation of their source of yield + key risks to take note of.

sUSDat: 13% Fixed APY
USDat: 8% Fixed APY

XOXO,
https://x.com/PendleIntern/status/2043879207751831641
USDG incentives have been bumped up from $30k/week to $40k/week.

This will last all the way till maturity. Currently:

- 400% Effective APY
- 18% ROI

Enjoy πŸ˜‰

XOXO,
https://x.com/pendle_fi/status/2044621149292917217
NFA but Sierra YT and their airdrop design is an interesting one.

- Maximum points is known
- Points allocated to Pendle market is known (and very generous)
- Airdrop % is known (and very generous)
- TGE date of Sep 2026 is known

Makes things easier to project ROI for YTs: https://x.com/PendleIntern/status/2047152449350414840