Wilbert

BD @pendle_fi | Stablecoins | RWA DeFi connoisseur👨‍🍳

[Pendle @pendle_fi]

Pendle has been named to @FortuneMagazine Crypto Innovators list, recognized among 30 companies and projects selected from more than 150 nominations, including TradFi institutions such as State Street, DBS Bank, and SBI Holdings.

For most of crypto's history, fixed income had no real equivalent onchain. Variable yield was everywhere, but locking in a known rate or taking a defined view on duration didn't exist at scale.

Pendle was built to close that gap, and that work now supports billions of dollars of TVL, with a growing share coming from stablecoin yield markets and institutional allocators.

Job's not done!

[Mahone Defi @MahoneDeFi]

Why are so many new stablecoin projects launching on Pendle from day one?

The answer is what many people now call: The Pendle Effect.

When a team launches a new stablecoin, the biggest challenge is not building the product.

The biggest challenge is attracting liquidity.

A stablecoin can offer:

▸ 5% yield
▸ 10% yield
▸ Treasury-backed yield
▸ RWA-backed yield

But without users depositing capital, TVL will not grow.

This is why many projects now see Pendle as part of their growth strategy, not just another integration.

Once a stablecoin is listed on Pendle, it becomes more than just a stablecoin earning yield.

Users can:

▸ Buy PT to lock in fixed yield.
▸ Buy YT to leverage yield or points.
▸ Farm incentives.
▸ Build looping strategies through Aave or Morpho.
▸ Trade future yield expectations.

As a result, one asset can attract many different types of users at the same time.

And that usually leads to much faster TVL growth.

The best example is USDG. Even though USDG was already a large stablecoin, Pendle quickly attracted nearly 28% of its Ethereum supply into Pendle markets.

For Apyx, Pendle at one point accounted for the majority of the protocol's TVL.

This is why many teams now launch Pendle markets almost immediately after launching a new yield-bearing asset.

A simple way to think about it:

In 2020, Projects wanted to be listed on Binance because Binance brought liquidity.

In 2026, Projects want to launch on Pendle because Pendle brings liquidity to yield.

That is why so many new stablecoins are benefiting from what the market calls the "Pendle Effect"

[Pendle @pendle_fi]

Sky has integrated Fixed Yield natively, powered by Pendle.

Users can now lock Sky Savings Rate to a fixed maturity at 4.75% APY, against a 3.60% variable rate, directly within the @SkyMoney app.

This integration embeds Pendle’s infrastructure inside the product surface of one of DeFi’s largest stablecoin protocols, extending Pendle from a standalone venue to a fixed-income layer that other protocols can integrate to expand their own offerings 🤝

[kevin😴 @kevinlhr88]

In this moment of temporary $sUSDat + $STRC volatility, I want to remind users that Saturn’s model was designed to be anti-fragile in moments like this.

At the core of Saturn is a two-token model:
1. $USDat is a 100% T-bill-backed stablecoin designed to let users move in and out of sUSDat with minimal depeg risk, even during periods of STRC volatility.
2. $sUSDat is a yieldcoin that is designed to track $STRC. Users can stake and unstake at NAV, with an expected 7-day unstaking period, provided the limit order is placed below the market order.

sUSDat takes on the STRC volilitity and is designed to float. Saturn intentionally segregates this risk.

So the key question is: what backs STRC?

STRC has temporarily traded below par, and I understand why users are watching it closely. But it is important to remember that STRC is not backed by confidence alone. It is supported by real assets on Strategy’s balance sheet - Bitcoin and cash.

A few points worth keeping in mind:
1. STRC remains meaningfully backed by Strategy’s balance sheet. Even at current prices, STRC has roughly a 3.2x BTC collateral ratio, implying an estimated 31.25% LTV. In simple terms, for every $1 of STRC and senior obligations, there is approximately $3.20 of Bitcoin value supporting it.
2. Strategy has substantial balance sheet resources. Strategy currently holds around $900M in cash and approximately 844K BTC on its balance sheet.
3. STRC has a liquidation preference. In a very remote bankruptcy scenario, STRC holders have a liquidation preference of $100 per share against Strategy’s available assets, including Bitcoin on the balance sheet.

Actions that Saturn is taking:
1. We are currently defending the USDat/USDC peg on Curve (Ethereum)
2. If users are looking to redeem sUSDat we are processing requests through the queue.

Volatility is opportunity and Saturn is here to build STRCFi for the long term.Temporary volatility can feel uncomfortable, but the structure matters. The assets matter. The collateral matters.

Saturn was built for stressed markets, not just calm ones.

[Saturn Foundation @saturn_credit]

Introducing Gravity Accelerate.

Double Gravity Points on select @Pendle_fi actions across @BNBChain and Ethereum mainnet.

May 27th, 9AM EST - June 6th, 9AM EST.

$STRC, now accelerated into STRCfi with Saturn.

[Kinetiq @Kinetiq_xyz]

Kinetiq is now live on @pendle_fi

kPoints are now earned on Pendle.

[deci @18decimals]

Calling $PENDLE a yield farm is like calling the bond market a savings account.

It completely misses the point.

In TradFi, rate markets are some of the largest markets on earth. BIS had global OTC derivatives at ~$846T notional in mid-2025, and interest-rate derivatives made up ~79% of that. Not because everyone is chasing APY, but because every serious institution needs to manage yield, duration, floating-rate exposure and future cash flow.

That is the real Pendle thesis.

Pendle lets onchain capital split, trade, hedge and lock future yield. A DAO treasury, stablecoin protocol, fund, or onchain company earning elevated yield today can effectively put a stamp in time when rates are attractive instead of just hoping next month’s yield holds.

That turns yield from passive APY into a balance sheet tool.

As stablecoins, RWAs, tokenized treasuries, credit markets and yield-bearing assets grow onchain, rate management becomes mandatory infrastructure. Some users will want fixed yield. Some will want leveraged yield. Some will want to hedge. Some will want to speculate on where rates go next.

TradFi already proved this market becomes massive when capital markets mature.

Pendle is building the onchain rate market before most crypto people even understand why it matters.

[Alsie | Dune @AlsieLC]

.@pendle_fi launched USDG markets on Feb 23, 2026.

By April 17, Pendle's SY contract held 27.9% of all USDG on Ethereum. Non-SY USDG barely moved the entire time.

The supply that filled Pendle wasn't redirected from existing wallets — total Ethereum supply grew in lockstep with the SY balance. It was issued specifically to flow there.

That's @pendle_fi acting as a net demand driver, not a redistribution venue. One asset, one window — but a specific mechanism worth watching on every future Pendle launch.

Data from @Dune: https://t.co/cICeEdF6sV

[CoinGecko @coingecko]

DeFi yields may seem dead, but opportunities still exist if you know where to look.

The tokenized RWA market surpassed $25B in April 2026, driven by demand for fixed-income products in crypto.

Here's how Pendle is leveraging RWAs to deliver on-chain yields 👇

[Bitcoin Magazine @BitcoinMagazine]

BREAKING: 🇺🇸 Senate Banking Committee PASSES the Clarity Act in 15-9 vote.

The bill now goes to the full Senate.

[TN | PendleBoros @tn_pendle]

https://t.co/pRGVbPiBo4

[🉐 Crypto Linn @crypto_linn]

https://t.co/eyIa741M0Q

[Wilbert @_whalebird]

Staking your underlying $STRC / digital credit-backed stablecoin on @pendle_fi for PT/YT to earn dividend yields from STRC sounds like something that would construe an activity-based reward or participation. Could be a strong tailwind for Pendle.

[Michael Saylor @saylor]

The key language: the bill recognizes activity-based rewards tied to payment stablecoins and distributed ledger participation as “critical to enabling innovation, competition, and consumer adoption.” That is the path to responsible digital yield markets. https://t.co/PTpjmmkqO1

[Wilbert @_whalebird]

@stablecoin_p @will_beeson @stablewatchHQ Congrats! When Pendle PTs integrated in Osero?

[Wilbert @_whalebird]

@Pendle_fi’s STRC lineup:

USDat / sUSDat by @saturn_credit
apxUSD / apyUSD by @apyx_fi
STRCx by @xStocksFi

$STRC digital credit defi revolution in full swing

Who’s next?

[Pendle @pendle_fi]

The onchain digital credit yield economy is expanding!

$STRCx (Aug 2026) by @xstocksfi is now live.

Fixed yield for tokenized $STRC, directional yield speculation, enhanced yield as a liquidity provider... all these are now available on Pendle.

[Pendle @pendle_fi]

The onchain digital credit yield economy is expanding!

$STRCx (Aug 2026) by @xstocksfi is now live.

Fixed yield for tokenized $STRC, directional yield speculation, enhanced yield as a liquidity provider... all these are now available on Pendle.

[Wilbert @_whalebird]

@crypto_linn Pendle

[🉐 Crypto Linn @crypto_linn]

Pendle Update:

Le Highlights:
- The Pendle Effect
- How The CLARITY Act is bullish for Pendle
- New $STRC Pools: Royco’s jRoyAPYUSD and Strata’s srUSDat & jrUSDat
- Pendle offers the highest $STRC fixed yields
- Why long Oil rates on Boros

Le Tastiest STRC Fixed APYs:
- [ETH] PT-apyUSD 18-JUN 17.79% APY (loopable on Morpho up to 71.38%)
- [ETH] PT-apxUSD 18-JUN 15.49% APY (loopable on Morpho up to 56.16%)
- [ETH] PT-srUSDat 27-AUG 10.86% APY

New on Boros:
- [HL / BN] ETHUSDC / ETHUSDT 25DEC
- [LT] BTCUSDT 25SEP
- [BN] CLUSDT 18JUN
- [BN] BZUDT 18JUN
- [HL] WTIOILUSDC 18JUN
- [HL] BRENTOIL 18JUN

+ Boros in-app newsfeed now live
+ Last week’s Boros Broadcast: https://t.co/2eR7ihHM8o
+ Pendle Print #113: https://t.co/UKzoZMJ9b2

Also check this out from le coindesk (yuge)

[Pendle Intern @PendleIntern]

Bite me, Intern made a few mistakes for @SierraIsMoney YTs last time 🙇🏻‍♀️

Turns out I was being TOO conservative:
• Didn't factor in yield ⬅️ +40% ROI here
• YT TVL was ~50% higher than what it should have been ⬅️ Less airdrop dilution!

In other words, YTs are actually better than expected.

With these new projections, all they need to do for YOU to win is to TGE.

Even at $30M FDV, it'll be an absolute cook for YTs 💦

And $10M FDV is roughly the breakeven point.

With @opentrade_io, who oversees Sierra's reserve strategy, raising $17M recently, plus the amazingly transparent and super generous (for Pendle) airdrop scheme by Sierra (see post below)...

Yes, I like YT-SIERRA. I like it alot.

[Wilbert @_whalebird]

It seems like @saturn_credit and @apyx_fi were just the start, and they’re already dominating trading volumes and mindshare on Pendle

More players are coming in the next two weeks…things are really going to get interesting. Can’t wait to share more soon

It’s officially $STRC season on @pendle_fi

[Wilbert @_whalebird]

I’m starting to get early vibes of restaking/LRT wars back in 2024…except this time it’s STRC wars with @saturn_credit and @apyx_fi. Volumes have been crazy on these two markets despite being nascent pools.

Pendle is one of the most dynamic and omni-meta protocols in the space. LST/LRT, yield stables, BTCfi, L1/L2 predeposit vaults, and now RWAs with Tbill and STRC exposure, there isn’t a single meta that Pendle hasn’t been able to fully tap on.

If you knew how much value Pendle created in the restaking days, it’s definitely worth keeping watch on it right now. IYKYK