Aug 18, 2021
Introducing (Pe,P)
TLDR: (Pe,P) for Pendies.
What is (Pe,P)?
Inspired by our Ohmie friends across the metaverse, (Pe,P) is the first offering we have for long-term Pendle holders to contribute to the protocol and be rewarded for it.
A key asset we’re supporting is the PENDLE/ETH Sushiswap pool, which we refer to as Pe for short.
Users can provide liquidity for OT-Pe and YT-Pe, which will trade against PENDLE as the base asset. This results in trading pairs: OT-Pe / PENDLE and YT-Pe / PENDLE. Hence, (Pe,P)
(Pe,P) achieves 3 things:
- Continually incentivizes deeper $PENDLE liquidity
- Provides useful liquidity to the Pendle protocol
- Rewards those with the most skin in the game
Sounds good. How do I (Pe,P)?
Easy Ape:
Savvy Defi:
What do these positions mean?
1. OT (Pe,P) provides liquidity for people to speculate on PENDLE/ETH LP values.
2. YT (Pe,P) provides liquidity for people to speculate on the future trading fees of PENDLE/ETH LPs.
3. Both positions are largely denominated in PENDLE, as such there is reduced IL risk in PENDLE terms. As an example: OT(Pe,P) stakers hold a position akin to a 75:25 PENDLE/ETH balancer pool.
