What are Pendle's PT and YT?
Points associated with yield-bearing assets usually go to YT holders, while PT holders don't receive them.
At maturity, PT can be redeemed 1:1 for the corresponding denominated asset. Before maturity, it generally trades at a discount.
The most important thing to remember when managing your position: understand the underlying asset before holding PT. If the underlying asset depegs or the contract has a vulnerability, what you can redeem at maturity will be affected as well.
$PENDLE 2.167（+5.09%）
Points associated with yield-bearing assets usually go to YT holders, while PT holders don't receive them.
At maturity, PT can be redeemed 1:1 for the corresponding denominated asset. Before maturity, it generally trades at a discount.
The most important thing to remember when managing your position: understand the underlying asset before holding PT. If the underlying asset depegs or the contract has a vulnerability, what you can redeem at maturity will be affected as well.
$PENDLE 2.167（+5.09%）