Liquidity Management Functions

This document covers all functions for managing liquidity positions in Pendle markets. These functions allow adding and removing liquidity in various token combinations.

Add Liquidity Functions

addLiquidityDualTokenAndPt

Adds liquidity using a token and PT token in exact amounts.

function addLiquidityDualTokenAndPt(
    address receiver,
    address market,
    TokenInput calldata input,
    uint256 netPtDesired,
    uint256 minLpOut
) external payable returns (uint256 netLpOut, uint256 netPtUsed, uint256 netSyInterm)

Input Parameters

Name	Type	Description
receiver	address	Address to receive LP tokens
market	address	Pendle market address
input	TokenInput	Token input configuration
netPtDesired	uint256	Desired amount of PT tokens to use
minLpOut	uint256	Minimum LP tokens to receive

Return Values

Name	Type	Description
netLpOut	uint256	LP tokens received
netPtUsed	uint256	PT tokens actually used
netSyInterm	uint256	SY tokens generated from input token

Use Case When you have both the underlying token and PT tokens and want to add liquidity using exact amounts of both. The function will mint SY from your token input and combine it with your PT tokens.

addLiquidityDualSyAndPt

Adds liquidity using both SY and PT tokens in exact amounts.

function addLiquidityDualSyAndPt(
    address receiver,
    address market,
    uint256 netSyDesired,
    uint256 netPtDesired,
    uint256 minLpOut
) external returns (uint256 netLpOut, uint256 netSyUsed, uint256 netPtUsed)

Input Parameters

Name	Type	Description
receiver	address	Address to receive LP tokens
market	address	Pendle market address
netSyDesired	uint256	Desired amount of SY tokens to use
netPtDesired	uint256	Desired amount of PT tokens to use
minLpOut	uint256	Minimum LP tokens to receive

Return Values

Name	Type	Description
netLpOut	uint256	LP tokens received
netSyUsed	uint256	SY tokens actually used
netPtUsed	uint256	PT tokens actually used

Use Case When you already have both SY and PT tokens and want to add liquidity directly.

addLiquiditySinglePt

Adds liquidity using only PT tokens by internally swapping some PT for SY.

function addLiquiditySinglePt(
    address receiver,
    address market,
    uint256 netPtIn,
    uint256 minLpOut,
    ApproxParams calldata guessPtSwapToSy,
    LimitOrderData calldata limit
) external returns (uint256 netLpOut, uint256 netSyFee)

Input Parameters

Name	Type	Description
receiver	address	Address to receive LP tokens
market	address	Pendle market address
netPtIn	uint256	Amount of PT tokens to use
minLpOut	uint256	Minimum LP tokens to receive
guessPtSwapToSy	ApproxParams	Approximation parameters
limit	LimitOrderData	Limit order configuration

Return Values

Name	Type	Description
netLpOut	uint256	LP tokens received
netSyFee	uint256	Trading fees paid in SY

Use Case When you only have PT tokens and want to add liquidity. The function will automatically determine the optimal amount of PT to swap for SY to achieve balanced liquidity provision.

Simple Version Available For basic operations without custom parameters, use addLiquiditySinglePtSimple which automatically handles approximation and skips limit order functionality.

addLiquiditySingleToken

Adds liquidity using any supported token by converting it to SY and PT as needed.

function addLiquiditySingleToken(
    address receiver,
    address market,
    uint256 minLpOut,
    ApproxParams calldata guessPtReceivedFromSy,
    TokenInput calldata input,
    LimitOrderData calldata limit
) external payable returns (uint256 netLpOut, uint256 netSyFee, uint256 netSyInterm)

Input Parameters

Name	Type	Description
receiver	address	Address to receive LP tokens
market	address	Pendle market address
minLpOut	uint256	Minimum LP tokens to receive
guessPtReceivedFromSy	ApproxParams	Approximation parameters
input	TokenInput	Token input configuration
limit	LimitOrderData	Limit order configuration

Return Values

Name	Type	Description
netLpOut	uint256	LP tokens received
netSyFee	uint256	Trading fees paid in SY
netSyInterm	uint256	SY tokens generated from input token

Use Case Most convenient method when you have any supported token and want to add liquidity. The function handles all necessary conversions and swaps automatically.

Simple Version Available For basic operations without custom parameters, use addLiquiditySingleTokenSimple which automatically handles approximation and skips limit order functionality.

addLiquiditySingleSy

Adds liquidity using only SY tokens by converting some to PT through market operations.

function addLiquiditySingleSy(
    address receiver,
    address market,
    uint256 netSyIn,
    uint256 minLpOut,
    ApproxParams calldata guessPtReceivedFromSy,
    LimitOrderData calldata limit
) external returns (uint256 netLpOut, uint256 netSyFee)

Input Parameters

Name	Type	Description
receiver	address	Address to receive LP tokens
market	address	Pendle market address
netSyIn	uint256	Amount of SY tokens to use
minLpOut	uint256	Minimum LP tokens to receive
guessPtReceivedFromSy	ApproxParams	Approximation parameters
limit	LimitOrderData	Limit order configuration

Return Values

Name	Type	Description
netLpOut	uint256	LP tokens received
netSyFee	uint256	Trading fees paid in SY

Use Case When you have SY tokens and want to add liquidity. The function will swap some SY for PT to achieve optimal liquidity provision.

Simple Version Available For basic operations without custom parameters, use addLiquiditySingleSySimple which automatically handles approximation and skips limit order functionality.

addLiquiditySingleTokenKeepYt

Adds liquidity while keeping the generated YT tokens instead of selling them.

function addLiquiditySingleTokenKeepYt(
    address receiver,
    address market,
    uint256 minLpOut,
    uint256 minYtOut,
    TokenInput calldata input
) external payable returns (uint256 netLpOut, uint256 netYtOut, uint256 netSyMintPy, uint256 netSyInterm)

Input Parameters

Name	Type	Description
receiver	address	Address to receive LP and YT tokens
market	address	Pendle market address
minLpOut	uint256	Minimum LP tokens to receive
minYtOut	uint256	Minimum YT tokens to receive
input	TokenInput	Token input configuration

Return Values

Name	Type	Description
netLpOut	uint256	LP tokens received
netYtOut	uint256	YT tokens received
netSyMintPy	uint256	SY used to mint PT/YT
netSyInterm	uint256	SY tokens generated from input token

Use Case When you want to add liquidity and also keep YT tokens for yield farming. This strategy avoids price impact since no swapping occurs - the underlying asset is converted to SY, then PT/YT pairs are minted directly. The PT and remaining SY are used for liquidity provision while YT is returned to you.

addLiquiditySingleSyKeepYt

Adds liquidity using SY tokens while keeping the generated YT tokens.

function addLiquiditySingleSyKeepYt(
    address receiver,
    address market,
    uint256 netSyIn,
    uint256 minLpOut,
    uint256 minYtOut
) external returns (uint256 netLpOut, uint256 netYtOut, uint256 netSyMintPy)

Input Parameters

Name	Type	Description
receiver	address	Address to receive LP and YT tokens
market	address	Pendle market address
netSyIn	uint256	Amount of SY tokens to use
minLpOut	uint256	Minimum LP tokens to receive
minYtOut	uint256	Minimum YT tokens to receive

Return Values

Name	Type	Description
netLpOut	uint256	LP tokens received
netYtOut	uint256	YT tokens received
netSyMintPy	uint256	SY used to mint PT/YT

Use Case When you have SY tokens and want both LP tokens and YT tokens. This method avoids price impact since no swapping occurs - SY is used to mint PT/YT pairs directly, with PT used for liquidity provision and YT returned to you.

Remove Liquidity Functions

removeLiquidityDualTokenAndPt

Removes liquidity and receives both the underlying token and PT tokens.

function removeLiquidityDualTokenAndPt(
    address receiver,
    address market,
    uint256 netLpToRemove,
    TokenOutput calldata output,
    uint256 minPtOut
) external returns (uint256 netTokenOut, uint256 netPtOut, uint256 netSyInterm)

Input Parameters

Name	Type	Description
receiver	address	Address to receive tokens
market	address	Pendle market address
netLpToRemove	uint256	Amount of LP tokens to burn
output	TokenOutput	Token output configuration
minPtOut	uint256	Minimum PT tokens to receive

Return Values

Name	Type	Description
netTokenOut	uint256	Amount tokens received
netPtOut	uint256	PT tokens received
netSyInterm	uint256	SY tokens converted to underlying

Use Case When you want to exit a liquidity position and receive both the underlying token and PT tokens separately.

removeLiquidityDualSyAndPt

Removes liquidity and receives both SY and PT tokens.

function removeLiquidityDualSyAndPt(
    address receiver,
    address market,
    uint256 netLpToRemove,
    uint256 minSyOut,
    uint256 minPtOut
) external returns (uint256 netSyOut, uint256 netPtOut)

Input Parameters

Name	Type	Description
receiver	address	Address to receive tokens
market	address	Pendle market address
netLpToRemove	uint256	Amount of LP tokens to burn
minSyOut	uint256	Minimum SY tokens to receive
minPtOut	uint256	Minimum PT tokens to receive

Return Values

Name	Type	Description
netSyOut	uint256	SY tokens received
netPtOut	uint256	PT tokens received

Use Case Most efficient method when you want both SY and PT tokens. No additional conversions are performed.

removeLiquiditySinglePt

Removes liquidity and converts everything to PT tokens.

function removeLiquiditySinglePt(
    address receiver,
    address market,
    uint256 netLpToRemove,
    uint256 minPtOut,
    ApproxParams calldata guessPtReceivedFromSy,
    LimitOrderData calldata limit
) external returns (uint256 netPtOut, uint256 netSyFee)

Input Parameters

Name	Type	Description
receiver	address	Address to receive PT tokens
market	address	Pendle market address
netLpToRemove	uint256	Amount of LP tokens to burn
minPtOut	uint256	Minimum PT tokens to receive
guessPtReceivedFromSy	ApproxParams	Approximation parameters
limit	LimitOrderData	Limit order configuration

Return Values

Name	Type	Description
netPtOut	uint256	PT tokens received
netSyFee	uint256	Trading fees paid in SY

Use Case When you want to exit liquidity and hold only PT tokens, maximizing your PT position.

Simple Version Available For basic operations without custom parameters, use removeLiquiditySinglePtSimple which automatically handles approximation and skips limit order functionality.

removeLiquiditySingleToken

Removes liquidity and converts everything to a specified underlying token.

function removeLiquiditySingleToken(
    address receiver,
    address market,
    uint256 netLpToRemove,
    TokenOutput calldata output,
    LimitOrderData calldata limit
) external returns (uint256 netTokenOut, uint256 netSyFee, uint256 netSyInterm)

Input Parameters

Name	Type	Description
receiver	address	Address to receive tokens
market	address	Pendle market address
netLpToRemove	uint256	Amount of LP tokens to burn
output	TokenOutput	Token output configuration
limit	LimitOrderData	Limit order configuration

Return Values

Name	Type	Description
netTokenOut	uint256	Amount tokens received
netSyFee	uint256	Trading fees paid in SY
netSyInterm	uint256	SY tokens before conversion

Use Case Most convenient exit method when you want to receive a specific underlying token. Handles all necessary conversions automatically.

removeLiquiditySingleSy

Removes liquidity and converts everything to SY tokens.

function removeLiquiditySingleSy(
    address receiver,
    address market,
    uint256 netLpToRemove,
    uint256 minSyOut,
    LimitOrderData calldata limit
) external returns (uint256 netSyOut, uint256 netSyFee)

Input Parameters

Name	Type	Description
receiver	address	Address to receive SY tokens
market	address	Pendle market address
netLpToRemove	uint256	Amount of LP tokens to burn
minSyOut	uint256	Minimum SY tokens to receive
limit	LimitOrderData	Limit order configuration

Return Values

Name	Type	Description
netSyOut	uint256	SY tokens received
netSyFee	uint256	Trading fees paid in SY

Use Case When you want to exit liquidity and hold SY tokens, useful for further operations within the Pendle ecosystem.

Integration Examples

Basic Liquidity Addition

// Add liquidity with USDe
router.addLiquiditySingleToken(
    msg.sender,
    PT_USDE_MARKET_ADDRESS,
    minLpOut,
    createDefaultApproxParams(),
    createTokenInputSimple(USDE_ADDRESS, 1000e18),
    createEmptyLimitOrderData()
);

Basic Liquidity Removal

// Remove liquidity to USDe
router.removeLiquiditySingleToken(
    msg.sender,
    PT_USDE_MARKET_ADDRESS,
    lpAmount,
    createTokenOutputSimple(USDE_ADDRESS, minUsdeOut),
    createEmptyLimitOrderData()
);