Don't rush to memorize the definitions: What are Pendle's PT and YT?
After maturity, PT can be redeemed 1:1 for the corresponding denominated asset. Before maturity, it usually trades at a discount.
Pendle first wraps yield-bearing assets into standardized SY tokens, then splits the SY into principal tokens (PT) and yield tokens (YT).
YT becomes worthless at maturity, so before buying, estimate how much yield you can earn over the remaining term.
$PENDLE is the native token of Pendle, a yield-tokenization protocol.
After maturity, PT can be redeemed 1:1 for the corresponding denominated asset. Before maturity, it usually trades at a discount.
Pendle first wraps yield-bearing assets into standardized SY tokens, then splits the SY into principal tokens (PT) and yield tokens (YT).
YT becomes worthless at maturity, so before buying, estimate how much yield you can earn over the remaining term.
$PENDLE is the native token of Pendle, a yield-tokenization protocol.
