How Pendle Works
To understand how Pendle works on the contract level, you can:
Start with Pendle's High Level Architecture for an overview of the components in Pendle protocol.
Refer to the developer docs on vePENDLE to understand the components and cross-chain mechanisms of vePENDLE.
Refer to the repository for Pendle V2 contracts: GitHub link
To understand the deeper mechanics and formulas involved in the Pendle protocol, you can refer to the 4 whitepapers at this link:
- SY: explains EIP-5115 Standardized Yield, a token standard to generalize yield generating mechanisms;
- SYS: explains how Pendle split any Standardized Yield token into Principal Tokens and Yield Tokens;
- V2_AMM: explains how the AMM works in Pendle V2;
- vePENDLE: explains how vePENDLE works;
How to Integrate Pendle
For on-chain contract systems building on top of Pendle
- For money markets or CDP-like stablecoins looking to accepts PT as collateral: refer to PT as Collateral doc
- For money markets or CDP-like stablecoins looking to accepts Pendle's LP token as collateral: refer to LP as Collateral doc
- For systems that need an oracle for PT or LP prices: refer to this for the PT Oracle and this for the LP Oracle
For off-chain systems building on top of Pendle:
Pendle provides three key services to support developers in leveraging the Pendle protocol.
- Pendle's RouterStatic: This is a low-level system built in Solidity, consisting of on-chain computational and data aggregation functions. You can find additional details here.
- Pendle's Hosted SDK: This is a collection of APIs designed to generate calldata for on-chain operations, such as buying PT, zapping into a market, or redeeming yield. More information is available here.
- Pendle's Backend: This comprises a set of APIs designed to integrate on-chain and off-chain data, covering aspects like spot and historical prices of various assets, APYs of different markets, and a list of transactions for a market. Further details can be found here.
For mobile wallets who want to feature Pendle Earn in your app:
- Pendle Earn is already optimized for mobile usage
- You just need to add a link or shortcut for users to navigate to the Pendle Earn app at https://app.pendle.finance/earn
- If your wallet is not supported on Pendle yet, please reach out to us by creating a ticket at the #collab-ticket channel in our Discord at https://pendle.finance/discord
Deployed contract addresses:
Other relevant sections can be found in the navigation sidebar on the left.
Should you need additional assistance, feel free to reach out to us via our Developers channel in Discord. Pendle's developers are always at hand and you can anticipate a response to your inquiries within 12 hours.