Pendle

Pendle is now live on @monad! First up - we're opening with 2 lovely @withAUSD pools: 🟣 Agora AUSD (8 Oct 2026) 🟣 @upshift_fi earnAUSD (8 Oct 2026) Plus up to $100k in weekly rewards. Details below 👇🏻

New V2 feature I'm most excited about is finally here soon: PT Looping. PT auto-looping on @pendle_fi app, simplifying a tedious manual process of supply, borrow, swap, repeat...into a matter of just seconds. Beta to launch quite soon.

Pendle has settled nearly $70B in yield. It sits under Ethena, etherFi, Aave, Morpho, and half the stablecoin trades you've made without realizing it. Most people still can't explain what it actually does. Here's everything you need to know 🧵👇 Every yield-bearing token does two things at once. It holds value, and it earns a stream. Your stETH is worth ~$3,000 and it pays staking yield. Bundled together, inseparable. @pendle_fi splits them apart. Deposit a yield asset, it mints two tokens. PT, the principal. YT, the yield. PT is the asset stripped of its yield, redeemable 1:1 at maturity. So it trades at a discount, like a zero-coupon bond. Buy PT-USDe at 92 cents, redeem for a dollar later, that gap is your fixed return. YT is the pure yield stream until maturity. Buy it and you're collecting everything the asset throws off, betting rates stay high. One token became two markets. ➠ WHY IT MATTERS Because it hands DeFi something it never had cleanly: a choice between certainty and speculation. Want to lock a fixed rate and stop watching APYs swing? Buy PT. You've turned a floating yield into a fixed one. Fixed income, onchain, no bank. Think yields are about to spike? Buy YT for leveraged exposure to the rate itself at a fraction of the capital. A farmer nervous about falling yields and a trader betting on rising ones can now take opposite sides of the same asset. Pendle built the venue where they meet. That's why it holds 50-60% of all DeFi yield trading. ➠ THE ENGINE ROOM Average TVL around $5.7B in 2025, up 76% YoY, peaking near $13.4B. Nearly $70B in cumulative yield settled. The concentration tells the real story. @ethena USDe is roughly 70% of @pendle_fi TVL, and the PT-USDe loop became one of DeFi's biggest trades: buy PT-USDe for ~8.8% fixed, post it as collateral on Aave, borrow USDC at 4-6%, repeat. When Aave raised the PT-USDe cap by $600M last September, it filled in under an hour. That's the part people miss. Pendle PTs are the collateral across Aave and Morpho. Pendle's fixed-income tokens became base money for the lending stack. @maplefinance syrupUSDC, @ether_fi staked ETH, @ethena synthetic dollar, all of it runs through Pendle to get fixed, split, or levered. It's the plumbing under the plumbing. ➠ THE MOVE THAT CHANGES IT @boros_fi. Every perp trader pays or receives a funding rate. It shifts constantly, and until now you couldn't cleanly hedge it. Boros turns it into a tradable instrument. The market it's reaching for is ~$150B in daily perpetual funding. Four months post-launch, Boros hit ~$6.9B in open interest. It's now listing funding markets on equity perps, an NVIDIA market on Hyperliquid, with S&P 500, Nasdaq, and Tesla flagged next. Think about who needs this. Ethena's entire yield comes from perp funding. @boros_fi lets it hedge that directly. Pendle is aiming at the interest-rate derivative desks of real institutions. ➠ HOW THE TOKEN CAPTURES IT Under sPENDLE, 80% of protocol revenue funds buybacks. Revenue comes from a 5% fee on PT issuance, 80% of AMM trading fees, and Boros fees. Roughly $40M annualized and climbing. Against a ~$175M market cap, that's under 4 cents of market value per dollar of TVL managed. Arthur Hayes bought ~$1M of PENDLE early this year for exactly that reason: the only scaled onchain rate protocol with an institutional path, priced like a mid-tier farm. Cheap or fair depends on Boros. If funding-rate trading scales, revenue re-rates. If it stalls, Pendle stays a yield venue with a nice buyback. In conclusion @pendle_fi built the fixed-income layer of a financial system that didn't have one. TradFi runs on the ability to fix a rate, trade a rate, hedge a rate. Crypto had none of it in usable form. Pendle shipped all three: PT for fixed income, YT for rate speculation, Boros for funding-rate hedging. Fixed income is the biggest market in global finance. Pendle's the one building it onchain while everyone else argues about stablecoins. That's a wrap!

Put your ethereum:0x808507121b80c02388fad14726482e061b8da827 to work: app.pendle.finance/spendle

Buybacks for ethereum:0x808507121b80c02388fad14726482e061b8da827 passed 2M 🔥 All these within just 6 months since sPENDLE launched ➢ ATH ethereum:0x808507121b80c02388fad14726482e061b8da827 staked ➢ Emissions cut by 71% - double the initial 30% target Fees, buybacks, airdrops...sPENDLE working hard for its stakers 🫡

Since 2026 Q1, T-Bills have ranged between 3.67-3.81% APY. Meanwhile, T-Bill-backed PTs on Pendle have ranged between 5.12-7.43% APY. That's an outperformance on average of 1.95x on equivalent T-Bill exposure.

> @SkyMoney sUSDS > 5.13% Fixed APY vs. 3.6% Sky Savings Rate > $30M clip gets 4.83% Effective Fixed APY > Still 123 b.p above SSR + Insti depth Power of Pendle Fixed Yield, baby 💪🏻

.@pendle_fi is one of crypto's most important yield protocols, with over $90 BN fixed yields settled Bungee expands access to Pendle's fixed yied by connecting them to liquidity across chains Any user, holding any asset on any chain can now access PT/YT in a single click - with lower fees, powered by Bungee & @SOCKETProtocol

Never let chains get in your way of good yield. More to come very, very soon! Including further improvements, and one-click PT looping (including cross-chain looping 👀)

Exhibit B: Pendle Bridge, AKA the most powerful bridge aggregator powered by @BungeeExchange 🤝

Pendle has fully upgraded @BungeeExchange V3 🌉 Faster routing. Lower fees. Fewer clicks. Swap any token on any chain into any PT/YT in a single click. Gas is handled for you - even when your wallet holds $0 on the chain.

Looking for fixed yield? Pendle's top PTs currently offer up to 17.58% fixed APY, with the entire top list still clearing 6%+.

This may be the most bullish Pendle curated info i've seen yet from Dexu

$20B+ trading volume in less than 1 year since we launched 🎉 Today, Boros has become the de facto venue for institutions and traders to trade, hedge, and capture funding rate spreads between venues, with over 170 markets across various maturities to-date. In the words of a wise monk, "Job's not done!"

New @merkl_xyz Campaigns are live! 1. Supply @withAUSD or @pendle_fi PT-AUSD to our Isolated Market 2. Earn nMON Incentives in addition to base interest and DUST rewards!

Finally, this is what we all have been waiting for. Topic: H2 2026: POSITIONING AND MAXIMIZING OPPORTUNITIES IN THE MONAD ECOSYSTEM 📅: 7th, July 2026 (Next Week Tuesday) Time: 16:00 UTC Duration: 3.5hrs Link: x.com/i/spaces/1MJgN… Happy to announce that we will be hosting 14 teams and 5 dignitaries on OUR DAILY GM SHOW this coming week. This is more than a space, it is a SUMMIT where we have the "ALL IN ONE" This event doesn’t spawn from "wishful thoughts" but from a place where i think that many of us as crypto bros often have less time to re-evaluate our lives which has caused many of us little to no progress in the space. This space will be focused on helping you and i as an individual & as a builder in the web3 space and on Monad ecosystem to reposition for the second half of the year. We will be covering projects from every sphere of the ecosystem including; > Defi Apps > Consumer Apps > Perps > Memecoin Projects and > NFT Our guest speakers includes; > @pareen - One of the goated man for founders in the ecosystem with many years of experience in the field. Topic: H2 Positioning as a builder/founder on Monad > @bhajipav - One of the cracked dev i've known for a while, works with Monad now. Topic: H2 Positioning as a developer on Monad > @mikeinweb - One of the best community manager i have known for the past 2years and one of the most loved Monad team members. Mike is him 🐐 Topic: H2 Positioning as a community builder > @thisisfin_ - You all will agree with me that fin is Moyaki's mum and one of the big brain behing almost all the monad meetups you've ever been to or seen on the timeline. She will be speaking to us on; Topic: H2 Positioning on Monad as a community member. (She must give us alpha on the next monad meet up xd) > @bashorunedward - Mr Bash is a web3 KOL, CT influencer i've known for a lot of years before we finally gets to know each other. He will be talking to aspiring creators, how to get those gigs e.t.c Topic: H2 Positioning in web3 and on Monad as a KOL/Creator Our invited projects for positioning alphas are as follows; > Defi: @pendle_fi, @0xFastLane > Consumer App: @fomonad_wtf, @kizzycasino, @crshmarket, @fortytwonetwork, @Levr_Bet > Perps: @perpltrade, @LeverUp_xyz, @touch_market > Memecoin: @Moniggamonad, @ShrampX, @anagocult > NFT: @the10kSquad I bet that this event will be one of the best 3.5hrs of your life in 2026, come one, come all. 7/7

Aave V4 has officially surpassed $250M in deposits A closer look at the recent growth shows that PT-USDG has been one of the key drivers. It's also the first @pendle_fi PT asset to be deployed on @aave V4, potentially paving the way for more PT assets such as PT-sUSDe and other yield-bearing stablecoin PTs to follow. The Pendle-Aave Effectis just getting started.

1 month since Fixed Yield launched on Sky Money, built with @pendle_fi. • $53M deployed • 4.93% APY • November 26 maturity A fixed rate on the world's largest yield-generating stablecoin, your rate is set the moment you supply, and holds until maturity.

Note that the in-app third-party bridging limit has been increased to $500k. To bridge more than $500k, use Stargate directly. Monad markets 👉 app.pendle.finance/trade/markets?…

Any asset from any chain, for any PT on any chain. Step 1: Select input token Step 2: Select the chain + asset to pay with Step 3: Click Swap That's it. And hey, PT redemptions will be JUST as easy too - redeem to any asset on any chain.

This wallet, 0x650, has $0 on @Monad. Not enough for gas. Not enough for anything. Doesn't matter. With just ONE click, they can: > Buy PT-AUSD on Monad > With USDC on Ethereum > Gas fees handled by the system Universal PT swap, baby ⚡