The Pendle Symbiotic arc continues with a 4some this week 🧬

@ethena_labs x @mellowprotocol x @symbioticfi x Pendle, featuring:

🔹rsENA (26 Sep)
🔹rsUSDe (26 Sep)

With Mellow Points, Ethena Sats, Symbiotic Points, USDe staking yield and more up for grabs 👇🏻 What are rsENA and rsUSDe?

rsENA and rsUSDe are the first non-ETH assets to be restaked on Symbiotic, curated by @Re7Capital, @MEVCapital & @k3_labs.

Both assets are used to secure cross chain messaging of USDe, and later multiple layers of the Ethena ecosystem via Symbiotic.

Narrator: In the vast expanse of DeFi, an extraordinary instance of a threesome symbiosis emerges - Pendle x @symbioticfi x @mellowprotocol

Here, we witness the first example of a Symbiotic Points Campaign on Pendle, featuring:

1️⃣ steakLRT by @SteakhouseFi
2️⃣ Re7LRT by @Re7Capital
3️⃣ amphrETH by @MEVCapital
4️⃣ rstETH by @P2Pvalidator

Lush pools teeming with points and potential 🧬 In the intricate web of DeFi, every connection counts.

Symbiotic, a restaking infrastructure layer.

Mellow, a platform enabling curated deployment of Symbiotic LRTs (e.g. steakLRT, Re7LRT, amphrETH, and rstETH).

And then there's Pendle.

Introducing Pendle LRT's newest addition - rsETH by @KelpDAO 🚄

With this, you'll finally be able to start racking up Kelp Miles faster than anyone else, while earning great yields and rewards from Pendle at the same time. 🚀 Liquid restaking with rsETH earns you Kelp Miles and @EigenLayer Points on top of the usual yields.

rsETH on Pendle earns Kelp Miles at a bonus 3x rate for the 1st month.

For YT-rsETH, this potentially means some serious boost for your Miles, more than what we've seen in eETH:

Education is the passport to the future, and this is even more true for Pendle and yield-trading.

Starting today, you'll be able to embark on a journey of self-improvement to master the art of yield-trading, conquering yields like never before.

Introducing Pendle Academy 🎓 The Academy is a comprehensive, one-stop-shop for all of Pendle's yield trading secrets.

Whether you're an absolute Beginner who's just starting out, an intermediate journeyman or an expert yield trading guru - there's a path tailored just for you 🛣️

The GREATEST trade of all time on Pendle?!

0xfab just smashed the ETH staking yield of all staking yields, and is now on track to earn a whopping 88% APY.

For context, the current staking yield on Lido is only 4.06% APY, making this a 22x outsized return.

How? Pendle YT 🌈 For those of you who missed the previous "best yield trade of all time", you can check out the thread below.

But that's old news now.

And unless you're getting >88% APY from ETH #LST, the king is dead, long live the king 👑

https://twitter.com/pendle_fi/status/1678781288759824386

Introducing Pendle Earn Let’s face it, DeFi fixed-rates and yields haven’t been the easiest to understand.

With Pendle Earn, we set out to change this, making simple yet powerful deposits accessible to everyone. Similar functionality to centralized products, yet fully on-chain.

Is this the best yield trade of all time?

With a capital of just $10.4k, a Pendle user is now earning yield from $327k 🔥

That's ~32x of leveraged capital (the highest we've ever seen 👀) with NO liquidation risks.

Here's the thing - it's easy, and anyone can do it too Before we dive into this superstar trade, if you're not familiar with the concept of yield trading yet, here's a quick and simple overview of what it is:

https://twitter.com/pendle_fi/status/1671518158480441352

Ahh the good o' days of #DeFi summer, back when 6-digit yields were the norm ☀️

How sweet it would have been to lock in these ultra-high, fleeting yields...

With Pendle, you can finally fell the beast of volatility and shield your precious yield in the safe embrace of PT. First, a refresher - what's PT?

On Pendle, yield from yield-bearing tokens like stETH is separated.

So imagine now that stETH without all of the future yield that it'll generate, stETH (i.e. the principal) should be cheaper now, right?

wBETH is now available on Pendle!

At 92.6% APY, this is one of the highest returns you can get for Liquid Staked Tokens (LST) across the whole crypto ecosystem.

But for someone relatively new to #DeFi, how do you even get started?

We got you covered 🧵 Liquid staking has been the fastest growing sector in DeFi.

#LST like wBETH for instance lets you accrue all the rewards from staking Ethereum, and at the same time maintain the ability to deploy it as liquidity to earn even more yield on top.

GLP yield has been the talk of crypto town today, with Pendle yield traders hauling big yields from YT-GLP 🫐

But before you mosey right in there with FOMO as your compass fellow apes, here's a quick guide to get you attuned to the magic of yield trading 🪄 First, the very basics for those new to the world of yield trading (and also a warm welcome 💙)

Yield Token (YT) gives you the right to collect all the yield generated by the underlying yield-bearing asset, up until the maturity.

Since our highlight of the stETH/wstETH arbitrage yesterday, a flurry of transactions came through to quickly pounce on the "cheap" YT-wstETH on @arbitrum 👀

Although the Implied APY delta has narrowed, there's still a large gap for aspiring arbitrageurs to capitalize on...

https://twitter.com/pendle_fi/status/1668109653002321920

Most notably, with just a 2.57 wstETH capital, a user is now earning yield generated by a 45.7 wstETH position through a YT purchase, essentially an ~18x leverage with no risk of liquidation.

arbiscan.io/tx/0x608e872f2…

Interestingly, the Implied APY gap between stETH (2025) on @ethereum and wstETH (2025) on @arbitrum has increased 👀

Those who are keen of eyes and yield would notice that there's an arbitrage opportunity to be capitalized on here Implied APY for wstETH on Arbitrum has actually decreased to 2.92% over the past few days.

Meanwhile, Underlying APY has increased to 4.2% APY, which means that YT-wstETH now is relatively cheaper than ever.

Ceteris paribus, that's 21.4% APY from longing yield (i.e. buy YT).

1/ The @Rocket_Pool rETH and wstETH pools are now LIVE on Pendle...

Pendle @arbitrum🔥

With this, we're now ready to kickstart the liquidity flywheel for #LSD and #LSDfi on Arbitrum.

Deeper liquidity, faster growth, boundless possibilities await 💙 2/ LSDs already exist on Arbitrum, but deeper liquidity is needed to capture the same vibrance we see on Ethereum.

With this launch, Pendle is positioned to assist in unlocking richer, stickier liquidity that can be used in other protocols in Arbitrum 🧡

Things are going Swell for our newest addition to the Pendle LSD lineup - Aura swETH-bb-a-WETH pool 💦

Thanks to a recent injection of ~$3.66M, the pool liquidity has swollen up to ~$3.8M in just 5 days since its inaugural launch last Friday 🥂 @swellnetworkio @AuraFinance @Balancer @auraintern The swETH pool is the first on Pendle to feature yield-bearing assets on both sides of the liquidity, perfect for those with an appetite for a yield galore:

🦪 swETH staking yield
🦪 bbaWETH lending yield
🦪 Balancer swap fees
🦪 Boosted $BAL
🦪 $AURA
🦪 Pendle swap fees
🦪… twitter.com/i/web/status/1…

Pendle's #stETH (Dec 2027) pool

• Our new LSD pool in under 1 week
• Liquidity 'kissing $6M'
• 25.5% Boosted APY
• Maturity is 1667 days long and weighs 0 lbs Turns out length does matter, ladies and gents 💦

A series of transactions gushed in over the weekend, including some rotations from LPs in the stETH (Dec 2025) pool thirsting for something longer in the newest long-dated stETH (Dec 2027) pool.

Previously, we've shared how you could have profited more from buying PT-stETH vs. buying ETH on spot back in November last year🔥

Now, let's take another look at where things stand now.

Spoiler: PT-stETH outperformed significantly 👑

https://twitter.com/pendle_fi/status/1614098100997750785

Quick refresher:-

1) PT is sellable anytime, just like spot
2) PT provides fixed yield, which acts as a cushion against downside risks
3) Trading PT is viable even for swing traders hunting short-term positions in place of spot

📢A new #LSD has swung into town, and it goes by the name swETH

Welcoming the newest addition to our LSD lineup - Aura swETH-WETH!

Also excited to share that the Swell team has channeled $PENDLE incentives + bootstrapped liquidity for this new pool 🍾

app.pendle.finance/pro/pools/0x82… What’s Swell?

Swell is a liquid staking protocol offering standout features:

🦪Zero fee staking
🦪Non-custodial staking
🦪Technical innovation (e.g. DVT)
🦪Secured by the best-in-class @sigp_io, @immunefi, @chainlink
🦪Carefully selected industry-leading node operators

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.

Pool三 is a yield galore that lets you take Pool2 liquidity to the next level 🏇🏻

"But ser, where's the yield coming from?" you ask, worry creeping into your voice as the old warnings of users being the yield ring in your mind.

So it starts like this, once upon a time... 🧵 ...there lived 2 happy little tokens called $PENDLE and $ETH in the Kingdom of @arbitrum.

Both $PENDLE and $ETH were free folks, with the liberty to roam from wallet to wallet, DApp to DApp.

There's currently a huge buffer between Implied APY (4.62%) and Underlying APY (9.6%) for sfrxETH.

If the current yield for sfrxETH holds up, that there's a rare opportunity to scoop up some cheap YT now 🧵 Buying YT = Bullish Yield

If sfrxETH rewards stay above the current Implied APY of 4.62%, you're likely to profit 👇🏻

Pool 三 takes liquidity to the next level, allowing LPs to stack more yield on the same assets you already have 🔥

However, the full yield potential of Pool 三 goes beyond just the sweet rewards… Before we get started, we need to first understand what LPs are.

A PENDLE/ETH LP for instance is a unit of liquidity that contains 50% PENDLE + 50% ETH.

On Camelot, this asset lets you earn PENDLE and GRAIL incentives on top of the pool swap fees.