Pendle

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Note: Those who split asUSDF into PT and YT without further activity on Pendle are exploiting the Au points reward system. Astherus prioritizes real activity like providing liquidity or trading PT and YT on Pendle. To protect the interests of genuine DeFi holders and encourage healthy activity, exploiters may lose all Au points.

Basic Concepts

SY:

• A token standard on Pendle for wrapping yield-bearing tokens. For example, when you deposit asUSDF, asUSDF is automatically wrapped into SY-asUSDF. This happens on the backend, so you don’t have to deal with conversion between SY and asUSDF.

• SY is then split into PT and YT.

PT:

• Represents the principal of the underlying yield-bearing token. For example, PT-asUSDF represents the principal of asUSDF (i.e. does not include asUSDF yield or Au points)

YT:

• Represents all the yield of the asset. For example, YT-asUSDF represents the yield and Au points you can get from asUSDF.

LP:

• The LP token you get after adding liquidity. For example, you get LP-asUSDF when you after adding asUSDF liquidity.