bitpontHold PT to maturity
PT redeems for its protocol-defined accounting asset at maturity. Its dollar value is not guaranteed. Selling early uses the market price.
Buy the variable yield
YT represents yield until expiry and can lose its purchase value. The displayed underlying APY is variable, not a promised YT return.
Mint or redeem the pair
Mint equal PT and YT. Before maturity, redemption needs both. After maturity, redeem principal with PT alone.
Find your maturity
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Inspect a market to read its tokens, maturity and your balances.
View your Earn positions →Recent Pendle activity
Before you confirm
Exact permissions
Approve only the reviewed input amount. Paired redemption can need two approvals, each reviewed separately before redemption.
Direct routes only
Supported routes use the market’s standardised yield asset and verified direct input or output tokens. External aggregator routes and external limit orders are disabled.
Review and recovery
Quotes expire locally after 60 seconds. Router calls enforce minimum outputs but have no transaction deadline. Pending transactions must be resolved before retrying.
Implied PT APY assumes holding to maturity and the protocol redemption value. Underlying APY is a separate variable rate. Neither is a guaranteed dollar profit, and gas costs are additional.