Over the weekend, the stETH pools have collectively shot up to over $32M of liquidity, thanks to a series of rapid fire deposits.
The whales as it seems, are setting up camp in the #LSD pools 🐳
0xa83 in particular have exclusively focused its position in LSD pools, totaling ~$4M of liquidity across the 3 stETH pools:
💧$1M in stETH (2023)
💧$1M in stETH (2024)
💧$2M in stETH (2023)
On top of that, the user also added another ~$1M into the sfrxETH pool.
With this, 0xa83 is now on track to earn ~$1.27M across all of its positions upon maturity.
Of course, 0xa83 was only one of many, with quite a few more sizable provisions cropping up over the past few days too.
Case in point for stETH (2025):
But why LP?
Providing liquidity on Pendle lets you make the most out of your LSD, letting you earn up to 28.8% APY with zero IL.
Essentially, you'll be getting Pendle swap fees + $PENDLE incentives as well as a partial fixed yield exposure on the underlying yield 🔥
With this much free-floating LSDs about and this number projected to rise, the demand for LSDfi will only intensify further.
So are you sure your LSDs are already working as much as they could for you: app.pendle.finance/pro/pools
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