Pendle PT Strategies
Last updated
Last updated
Pendle is a yield-focused DeFi protocol that seeks to take yield-bearing assets one step further, by allowing users to split LRTs into PT and YT assets. For EtherFi's $eETH, $eETH can be split into $PT-eETH and $YT-eETH.
$PT-eETH: Foregoes $eETH yields and points for a fixed yield, and is redeemable for 1 $eETH at maturity. $PT-eETH currently trades at a ~25% fixed APY.
$YT-eETH: Leveraged exposure to $eETH yields and points streamed to holders perpetually until maturity. YT decays to no value at maturity. $YT-eETH currently accrues 25x EtherFi points, and 15x EigenLayer points.
With our mission to bring decentralized on-chain altcoin options to users, Thetanuts Finance will be first integrating Pendle’s $PT-eETH to create Pendle PT Strategy Vaults.
On the Thetanuts Finance user interface, a user will “Zap” their $PT-eETH.
$PT-eETH is deposited into the Thetanuts Finance v3 Lending Market, and $ETH is borrowed.
$ETH is deposited into the $ETH-C Basic Vault, generating additional Basic Vault Option Premiums.
Our Leveraged LRT Vault allows $PT-eETH to generate additional sources of yield – where $PT-eETH would have otherwise not had any additional use cases, aside from waiting for maturity.
With the Leveraged LRT Strategy Vault, users will now be able to generate up to 3 further sources of yield: Pendle $PT-eETH Fixed Yield, Thetanuts Finance $ETH-C Basic Vault Option Premiums, and $NUTS Rewards.
