What are Pendle’s PT and YT, respectively?
Points earned by yield-bearing assets generally go to YT holders, while PT holders receive none. Before maturity, equal amounts of PT and YT can be combined to recover the original yield-bearing asset.
The price of YT is essentially a quote for future yield: if the actual yield earned before maturity is lower than what the market expected when you bought it, YT buyers lose money.
$PENDLE is the native token of Pendle, a yield-tokenization protocol.
#PENDLE
Points earned by yield-bearing assets generally go to YT holders, while PT holders receive none. Before maturity, equal amounts of PT and YT can be combined to recover the original yield-bearing asset.
The price of YT is essentially a quote for future yield: if the actual yield earned before maturity is lower than what the market expected when you bought it, YT buyers lose money.
$PENDLE is the native token of Pendle, a yield-tokenization protocol.
#PENDLE