Salam 🍊

YT buys are flowing in now and Implied APY has been creeping up.

While Intern still thinks YT-USDe (Karak) is great based on the above projections, PTs are looking more and more juicy now

> 42% Fixed APY
> 12% absolute return

All these in just ~4 months.

Remember - there's no harm playing both sides.

In fact, you can think of/use this yield you'll be earning from PT as free "YT gambling chips" 😉

Friday Special!!!!

The 3rd Karak pool is already live on Pendle - Ethena sUSDe (Karak) 🍊

You'll be getting:

- 2x Karak XP
- 5x Sats/day
- ETH short funding rate yield

For LPs, this would be the chance to essentially earn more yield than native sUSDe, plus XP and Sats on top

Pool Link - https://app.pendle.finance/trade/pools/0xb1f587b354a4a363f5332e88effbbc2e4961250a/zap/in?chain=ethereum

Here's a little light reading for your Sunday morning ☕

Intern crunched the numbers for YT-sUSDe (Karak) to please my community overlords.

TL;DR

> 730% APY + 98% profit estimated based on projections

> Staking yield of sUSDe gives quite substantial return to cushion YT costs

NFA of course. How much will points be worth? Will these be enough to recover your YT costs? No one knows for sure, we can only guess:

https://x.com/PendleIntern/status/1797119927943627087

So apparently Justin Sun's one of us now, setting his eyes (or rather ETH) on Pendle PTs.

If you're looking to pull a Justin, here are some of the best Fixed APYs for your consideration:

1) Karak sUSDe (26 Sep) - 41.5% Fixed APY
2) ENA (29 Aug) - 81.9% FIxed APY
3) sUSDe (25 Jul) - 47.2% Fixed APY
4) Zircuit eETH (27 June) - 23.1% Fixed APY

Pro tip - here's another way to look at PTs:

The extra ETH or stables (or any other underlying assets) you're getting by maturity basically gives you a buffer/cushion just in case price drops.

If price goes up? Great! You have more profit now.

And that is the advantage of PT vs. Spot.

◎ His Excellency's PT buys - https://x.com/PendleIntern/status/1797818299964932567
◎ Paradigm Shift for PT - https://x.com/PendleIntern/status/1797601960474120601

New long-dated HLP and MUXLP (Dec 2024) pools are live on Pendle 🏋🏻

These pools are also sporting higher APYs than their soon-to-mature June counterparts.

For existing LPs, you can look to migrate your liquidity earlier to get a head start in capturing this higher APY.

For PTs, these long-dated pools are also offering higher Fixed APY (37%).

Tweet - https://x.com/pendle_fi/status/1798528091117294056

Paging aUSDC depositooors on Arbitrum 🤙🏻

PT-aUSDC (Dec 2034) Fixed APY is at 10.8% - higher than the 1M, 3M and 1Y averages on Aave.

https://x.com/pendleintern/status/1800002386980974996?s=46&t=FieW0CeKdjAlKll4NAwPig

GM, It's a lending market this week, with new pools from Silo and Dolomite.

Today's special:
sETH (PT-ezETH Sep2024)
sETH (PT-eETH Sep2024)
sETH (PT-rsETH Sep2024)

Loop PT fixed yields to your desire.

Like and RT: https://x.com/pendle_fi/status/1800876294491775392

GM, speculate on crvUSD's volatility with our new crvUSD (Sep '24 Maturity) pool on Silo.

As usual, lending markets on Pendle enables many strategies:
- More looping
- Fix borrowing costs
- Earn fixed lending yields

Like and RT: https://x.com/pendle_fi/status/1801245309684822027

GM @everyone, another addition to trading lending-yields: Dolomites dUSDC.

Strong USDC borrowing demand resulted in yields fluctuating from 10.9%-82.6%, giving ample opportunity for yield-traders to capitalize in this volatility.

On top of that, dUSDC on Pendle gives 3x Dolomite Minerals!

Like and RT: https://x.com/pendle_fi/status/1801601110979002687

New short-dated eETH (25 July) pool is out ✨

Trades have been concentrated around short-dated/close-to-maturity pools.

Points hunters love the higher, faster points accumulation offered by these YTs, and whales like Justin Sun love the lower risk, short-term fixed yield offered by PTs. Is this what they call symbiosis? 🤔

Anyway, with multiple ETH pools maturing in ~8 days, we should see flows to the next wave of short-dated pools, just like this new eETH (25 Jul) pool.

LPs could potentially capture this new influx of trades + liquidity ahead of time by LPing early.

Link - https://x.com/pendle_fi/status/1803063884779037012

Look out world, the first Symbiotic LRTs have arrived on Pendle 🚀

4 of Mellow x Symbiotic LRTs are now live:

1. steakLRT (Curator: Steakhouse Financial)
2. Re7LRT (Curator: Re7 Labs)
3. amphrETH (Curator: MEV Capital)
4. rsETH (Curator: P2P)

Pendies can start earning Mellow Points, Symbiotic Points (when available) and respective LRT Points (when available).

Do note that YTs will only earn points here, and the Underlying Yield will be accrued to PTs instead.

For more information, check out our post at https://x.com/pendle_fi/status/1803773346112495828

P.S. Remember to vote for these new pools for next week's epoch!

The Pendle Symbiotic continues with the addition of EtherFi's Super Symbiotic LRT 💪🏻

weETHs (29 Aug)
2x EtherFi Points.
4x Veda Points.
1x Symbiotic Points (when available).

More info at https://x.com/pendle_fi/status/1804135949041045894

P.S. 3/4 Mellow pools are already filled to the cap, with Re7LRT being the only left remaining 👀

If you're looking at some short-dated PTs, there's about ~200 ETH capacity left for Re7LRT, which is currently giving out ~20.38% APY in 30 days

Since 1 PT redeems for 1 LRT at the end, you're not only accruing more ETH, but also more valuable ETH (LRT is value accruing like wstETH and will increase in value overtime).

Some cool, new features on Pendle!

⚡ Liquidity Transfer
⚡ PT Rollover

With these, you'll finally be able to migrate your liquidity with just a single click - right in time for that big 27 June maturity later this week 😉

For the full guide, refer to https://x.com/pendle_fi/status/1805586718898405796

Gentle reminder that we're ~12 hours until the June maturity wave!

Here's all you need to know ahead of time to prepare for it - https://x.com/pendle_fi/status/1805781432092311945

eETH implied APY have dropped quite significantly across the board from users rolling over PT from previous maturities.

This means: YT is now trading very cheaply.

If you're into EtherFi points, this is probably the only chance to get at current prices.

Ongoing migrations are depressing Implied APYs which are opening up some potential opportunities for points hunters here 😋

Also it's double $ARB season this epoch, which means some nice looking numbers for our Arbitrum pools

Link - https://x.com/PendleIntern/status/1806157671999078407

Kicking off this happy Friyay with a limit increase for Mellow LRTs 🌅

- 3x Mellow Points (reverts to 2x once Symbiotic cap is lifted)
- 1x Symbiotic Point (when available)

https://x.com/pendle_fi/status/1806467071783682147?s=46&t=FieW0CeKdjAlKll4NAwPig

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 😉

- 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