FAQ
General
What does the maturity date mean?
Each PT and YT has an maturity date. For PT, you can redeem the full underlying yield-bearing token after this date. For YT, the yield of the yield-bearing token is only accrued up until the maturity date, after which YT has no value.
Why is the Underlying APY shown on Pendle differ from the APY shown in the underlying protocol?
The Underlying APY displayed on Pendle is a 7-day average of the underlying protocol (with some assets like GLP as exceptions) to smoothen out short-term fluctuations of the underlying protocol's APY.
Liquidity Provision
What do I receive in return for providing liquidity?
- Swap fees generated by the pool
- PENDLE incentives
- Protocol incentives emitted by the underlying asset (e.g. AAVE)
Do I have to stake my LP to earn rewards?
No, you do not have to stake LP tokens. All LP token holders will receive their fair share of the rewards.
Security
Is Pendle audited?
The Pendle codebase has been fully audited by reputable auditors and all flaws have been addressed. Read the audit reports here. Nonetheless, users are advised to exercise caution and deploy funds prudently.
What risks are there associated with using the protocol?
Risk Warning: Since Pendle interacts with third-party protocols and contracts, there is inherent risk associated with the smart contracts and systems deployed by the third-party protocols. Pendle is not responsible for any funds lost due to exploits in third-party contracts.