Four separate USDe pools have opened on Ethereum, each with an initial $50 million limit. Their maturities range from three months to one year.
The available terms are three, six, nine and 12 months. At maturity, each PT-USDe settles for one USDe; buyers pay less upfront than that settlement amount. The purchase price sets the fixed return associated with the selected maturity.
Pendle says it will expand a pool’s limit when that pool reaches capacity. The four pools have distinct starting limits of $50 million apiece. Ethena said the markets will not offer incentives paid in its token. Ethena is allocated half the fees from its third-party-operated Pendle pools, funds that would otherwise accrue to Pendle’s treasury.
