Pendle
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Pendle

Avalanche pools are live!

GM

Pendle pools are live! Mint, stake, and trade at https://app.pendle.finance/ (Make sure Avalanche network is selected)

In case you missed our announcements earlier, check them out here:

  1. Pendle on Avalanche
  2. Pendle and the 3 Joesephs
  3. Pendle and the Qi Musketeers

Supported Assets

We are supporting 4 assets at launch, each with their own respective OT and YT pools.

From Trader Joe, we have PENDLE/AVAX LP and xJOE.

From Benqi, we have qiAVAX and qiUSDC.

Quick recap! OTs represent ownership of the underlying asset. Buying 10 OT-xJOE today will allow you to redeem 10 JOE at expiry in 6+ months.

YTs represent the natural yield accruing to the asset and the yield can be continuously claimed by the YT holder.

These simple cheatsheets show what each OT and YT token is entitled to 👇

OT Pool Addresses

For easy reference, here are direct links to the OT Pools on Trader Joe. YT pools are on Pendle

  1. OT-Pa: https://traderjoexyz.com/#/trade?outputCurrency=0xabced2a62fd308bd1b98085c13df74b685140c0b
  2. OT-xJOE: https://traderjoexyz.com/#/trade?outputCurrency=0x7d1e8650abd5f8363d63dc7ab838cec8c726dd38
  3. OT-qiUSDC: https://traderjoexyz.com/#/trade?outputCurrency=0xfffe5fc3e511ce11df20684aec435a3e2b7d8136
  4. OT-qiAVAX: https://traderjoexyz.com/#/trade?outputCurrency=0xecc5748b1ff6b23f284ec81e8bf034409961d8dc

Pa,P

To stack Pendies, just (Pa,P).

(Pa,P) is our offering to Pendle holders to contribute to the protocol and be rewarded for it. A key asset for (Pa,P) is the PENDLE/AVAX LP token from Trader Joe, which we refer to as Pa for short.

With the deposit of Pa into Pendle, OT-Pa and YT-Pa will be minted.

Here is where it gets interesting. Holders of OT-Pa and YT-Pa can further stack yield by providing liquidity against PENDLE.

This results in OT and YT trading pairs for Pa / PENDLE. Hence, (Pa,P)!

(Pa,P) achieves 3 things:

  1. Incentivizes deeper $PENDLE liquidity
  2. Provides useful liquidity to the Pendle protocol
  3. Rewards those with skin in the game

Sounds complex? Don’t worry, we have that sorted out. 👇

Zap Pa,P

(Pa,P) is the main highlight of our Zap launch!

What would usually take up to 6 separate steps is now done in 1 clean transaction.

To Zap, all you will need is the correct ratio of PENDLE:AVAX (roughly 75:25). Simply approve the necessary tokens, and zap!

What do these positions mean?

1. OT (Pa,P) provides liquidity for people to speculate on PENDLE/AVAX LP values.

2. YT (Pa,P) provides liquidity for people to speculate on the future trading fees of PENDLE/AVAX LPs.

3. Both positions are largely denominated in PENDLE, as such there is reduced IL risk in PENDLE terms. As an example: OT(Pa,P) stakers hold a position akin to a 75:25 PENDLE/AVAX balancer pool.

Liquidity Mining Live! Trading Campaign Next Week

Congrats on lasting so far. As a bonus, we’ll be incentivizing pools by 125% of the base rewards during the launch week!

That aside, we will also be releasing a trading campaign next week to encourage experimentation on the protocol. LPs can expect to collect more swap fees during this period!

See the table below for PENDLE incentives during launch week.

To note: Pendle liquidity rewards follow an epoch system where the rewards earned each week will be distributed gradually. At the end of an epoch, 1/5 of the rewards earned are immediately claimable and the rest will be distributed evenly over the following 4 epochs (4 weeks).

gn. Before you go, here are links to simple walkthroughs for users!

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