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Pendle Finance is a pioneering DeFi protocol that brings yield trading to the blockchain space, allowing users to unlock the full potential of their yield-bearing assets.
At its core, Pendle Finance introduces a way for users to separate and trade between current (guaranteed) and future (potential) yields, making it possible to optimize earnings from yield-bearing assets. The system revolves around 3 key tokens:
PT represents the principal portion of a yield-bearing asset and is redeemable for the original asset at maturity. This allows users to purchase assets at a discount and lock in a fixed return, providing a fixed yield strategy for those seeking predictable returns.
In a nutshell:
PT represents the base value (principal) of a yield-generating asset.
When you buy PT, you’re essentially purchasing an asset at a discount and agreeing to receive its full value later at a set date (maturity).
This is ideal for those who prefer fixed returns — you know exactly how much you’ll get back, similar to a fixed-term deposit.
YT gives holders access to the yield generated by the underlying asset without requiring them to own the principal.
By trading YT, users can speculate on yield fluctuations or maximize their returns by optimizing when they claim their rewards.
In a nutshell:
YT gives you access to the yield (interest or rewards) generated by an asset, without holding the asset itself.
When you own YT, you receive all the rewards the asset earns over time, such as staking yields, airdrops, or lending interest.
Why it’s useful:
If you think the asset’s yield will increase, YT lets you profit more without holding the actual asset.
You can also trade YT based on how much yield people expect the asset to generate.
LP tokens represent a user’s share of a Pendle liquidity pool, which consists of Principal Tokens (PT) and Standard Yield Tokens (SY) (a wrapped version of the underlying asset). Providing liquidity allows users to earn additional passive yield through multiple income streams while maintaining exposure to yield-bearing assets. Unlike traditional LP tokens, Pendle LPs are designed to minimize impermanent loss (IL) and provide stable returns if held until maturity.
In a nutshell:
LP tokens allow users to earn extra yield on their idle yield-bearing assets.
A Pendle liquidity pool consists of PT + SY, meaning that users earn both fixed yields from PT and native yields from SY.
Since PT is always redeemable 1:1 for the underlying asset at maturity, LP providers face zero IL risk at maturity and minimal IL before maturity.
Let’s say you have stETH, which is staked Ethereum on Lido. Normally, stETH earns staking rewards over time, but with Pendle, you can separate the stETH into two parts:
If you own PT-stETH, you own the base ETH but you don’t earn staking rewards until the maturity date.
You can buy PT-stETH at a discount today and receive the full stETH back later when it matures.
Example:
1 stETH is worth $2,000, but PT-stETH might be trading at $1,900 today.
You buy PT-stETH for $1,900, and when it matures, you redeem it for 1 full stETH ($2,000) — locking in a fixed return.
If you own YT-stETH, you don’t own the stETH itself, but you earn all the staking rewards from it until the maturity date.
The more stETH generates in rewards, the more valuable YT-stETH becomes.
Example:
If stETH’s staking APY is 5%, YT-stETH holders will receive that yield instead of PT holders.
If demand for stETH staking increases and APY rises to 8%, YT-stETH holders benefit, and YT becomes more valuable.
If you provide LP-stETH, you are essentially depositing both PT-stETH and SY-stETH into a Pendle liquidity pool. In return, you receive LP tokens, which entitle you to multiple yield sources:
Native stETH staking rewards from the SY portion.
Fixed yield from PT-stETH, which will be redeemable 1:1 at maturity.
Swap fees generated when traders buy/sell PT-stETH or YT-stETH in the liquidity pool.
Additional incentives in $PENDLE if you choose to boost your APY by locking PENDLE for vePENDLE.
Example:
You deposit 1 stETH worth $2,000 into a Pendle liquidity pool.
Your 1 stETH is split into PT-stETH + SY-stETH, and you receive LP tokens representing your share of the pool.
Over time, you earn native stETH staking yield from SY-stETH, fixed yield from PT-stETH, and swap fees from trading activity in the pool.
If you hold the LP tokens until maturity, your PT-stETH will be redeemable 1:1 for stETH, ensuring zero impermanent loss.
With PT and YT, Pendle turns yield-bearing assets into a tradable market, allowing users to:
Lock in fixed returns by buying PT at a discount and redeeming the full value later.
Earn and trade yield separately with YT, maximizing returns based on yield fluctuations
Speculate on future yield trends by trading PT and YT independently.
This gives users more flexibility and new ways to profit from DeFi yield-generating assets.
With the integration of clisBNB into Pendle, users now have enhanced access to Binance Launchpool, Megadrop, and Hodler Airdrop rewards while optimizing their capital efficiency. Traditionally, participating in these events required holding slisBNB or clisBNB within Binance’s ecosystem, but with Pendle, users can trade, speculate, and maximize yield opportunities without being restricted to Binance Web3 Wallets.
Through Pendle’s yield tokenization model, clisBNB holders can separate principal value (PT-clisBNB) from its yield (YT-clisBNB), providing flexibility and strategic yield management. This enables users to either lock in a discounted fixed yield with PT-clisBNB or speculate on Binance Launchpool’s profitability with YT-clisBNB, all while still earning BNB staking rewards.
clisBNB holders can access three major Binance reward programs through Pendle:
Binance Launchpool: Rewards accumulate from the official announcement date based on clisBNB holdings.
Megadrop: Users earn rewards based on Binance’s predefined calculation period.
Hodler Airdrop: Binance takes snapshots of holdings before the event announcement, meaning past holdings directly impact rewards.
Pendle’s YT-clisBNB and SY liquidity pool components allow users to automate their exposure to Binance Launchpool rewards without actively managing their holdings, while PT-clisBNB enables discounted purchases with fixed yield strategies.
Pendle’s YT-clisBNB and SY liquidity pool components allow users to automate their exposure to Binance Launchpool rewards without actively managing their holdings, while PT-clisBNB enables discounted purchases with fixed yield strategies.
Once airdrop tokens are received from Binance, clisBNB will automatically convert the rewards into BNB within an hour of trading opening to mitigate volatility risks. The converted BNB is then distributed to Pendle and its ecosystem partners within 1 to 5 business days, after which users can claim their rewards through Pendle’s designated reward framework.
Users staking clisBNB in Pendle have two ways to claim rewards:
Partner-Managed Distribution: Certain ecosystem partners, such as Astherus, handle reward distribution directly.
Claiming via BNB.xyz: Users staking via Pendle & Pendle-affiliated projects can claim rewards through the BNB.xyz platform.
Maintaining its 1:1 equivalence to BNB, clisBNB ensures fair participation in Binance Launchpool events. Regardless of whether users stake BNB directly or through clisBNB, rewards are distributed under the same calculation model. Additionally, all clisBNB staking is pooled into a unified system, ensuring proportional distribution based on holdings and staking duration.
By integrating clisBNB into Pendle, users gain greater capital efficiency, optimized DeFi strategies, and seamless access to Binance’s most lucrative yield opportunities, all without sacrificing liquidity.
Rewards for clisBNB holders are determined based on Binance’s snapshot timing and the total duration and volume of holdings within the calculation cycle. The longer a user holds clisBNB and the greater their stake, the higher their allocated rewards. This structure ensures a fair distribution of Binance Launchpool, Megadrop, and Hodler Airdrop rewards, aligning incentives for long-term holders.
Once airdrop tokens are received from Binance, clisBNB automatically converts these tokens into BNB within one hour of trading opening. This proactive approach minimizes market volatility risks and secures stable returns for users. The converted BNB is then distributed to Pendle and its ecosystem partners within 1 to 5 business days. After distribution, users can claim their rewards according to Pendle’s reward framework, ensuring a seamless and efficient payout process.
With clisBNB now available on Pendle, users can unlock multiple earning opportunities:
Binance Launchpool APY (claimable in BNB)
BNB Staking APY (claimable in slisBNB)
This allows users to speculate on Binance Launchpool’s frequency and profitability while still earning staking rewards from Lista DAO.
Perfect for users looking for discounted BNB exposure or fixed yield in BNB.
1 PT-clisBNB = 1 BNB staked in Lista at maturity.
Holders can purchase PT at a discount and redeem it at full value upon maturity, effectively securing a fixed yield strategy.
For example, if the maturity of the PT-clisBNB token is in 1 year, and the yield of PT-clisBNB is 45.29%, then users can buy 1 PT-clisBNB at a discount, which is at 0.688 BNB. In one year’s time at maturity, users can exchange 1 PT-clisBNB for 1 BNB.
LP-slisBNB — Providing Liquidity for Extra Yield
When you provide LP-slisBNB, you are depositing PT-clisBNB and SY-slisBNB into a Pendle liquidity pool, which allows you to earn from several passive income streams:
Binance Launchpool APY — Earn rewards from Binance Launchpool in BNB, generated by the SY-slisBNB portion of your liquidity.
BNB Staking APY — The SY-slisBNB portion also continues to accrue staking rewards in slisBNB, just like direct staking.
Fixed Yield from PT-clisBNB — At maturity, PT-slisBNB is redeemable 1:1 for slisBNB, ensuring zero impermanent loss if held until maturity.
Swap Fees — Earn additional rewards from traders who swap PT-slisBNB and YT-clisBNB in the liquidity pool.
$PENDLE Incentives — Users can boost their LP-slisBNB APY by locking PENDLE for vePENDLE, increasing their returns up to 2.5x.
Trade & Speculate on Binance Launchpool APY: Users can actively trade yield and speculate on Launchpool event profitability.
Earn Dual Rewards: BNB staking yield + Launchpool rewards, fully claimable in BNB (for Launchpool) and slisBNB (for staking APY).
Flexible Yield Strategies: Choose between fixed yield (PT-clisBNB) or variable yield (YT-clisBNB) depending on market conditions and personal strategy.
Increased Capital Efficiency: Instead of passively holding slisBNB, users can actively trade yield exposure and optimize returns.
With Pendle, users can trade, speculate, and maximize yield opportunities without being restricted to Binance Web3 Wallets.
Launchpool rewards distribution: Your share of Binance Launchpool rewards is time-volume-weighted across both YT and the SY portion of the LP throughout the event. This means that your share of Binance Launchpool rewards depends on two factors:
How long you hold YT or SY in the liquidity pool (Time)
How much YT or SY you hold compared to others (Volume)
This means:
The longer you hold YT or SY, the more rewards you earn.
The more YT or SY you hold, the bigger your share of the rewards.
Rewards are calculated throughout the entire event, so holding for a longer period and with a larger amount will increase your total earnings.
Launchpool rewards are claimable in BNB, while staking rewards are claimable in slisBNB.
Zap-in with any assets, but zap-out withdrawals will be limited to slisBNB, which can then be queued for withdrawal via Lista’s app.
Existing clisBNB holders must withdraw back into BNB/slisBNB to participate in Pendle’s pool.
Lista DAO’s integration with Pendle marks a major step forward in unlocking new yield strategies for BNB holders and DeFi users. By leveraging clisBNB on Pendle, users can now seamlessly earn, trade, and speculate on Binance Launchpool events while maintaining full flexibility and liquidity. Whether you’re looking for fixed yield, yield speculation, or enhanced DeFi utility, clisBNB on Pendle provides the perfect gateway to maximize your returns.
Start trading & earning with clisBNB on Pendle today! 🚀
Pendle Finance is a pioneering DeFi protocol that brings yield trading to the blockchain space, allowing users to unlock the full potential of their yield-bearing assets.
At its core, Pendle Finance introduces a way for users to separate and trade between current (guaranteed) and future (potential) yields, making it possible to optimize earnings from yield-bearing assets. The system revolves around 3 key tokens:
PT represents the principal portion of a yield-bearing asset and is redeemable for the original asset at maturity. This allows users to purchase assets at a discount and lock in a fixed return, providing a fixed yield strategy for those seeking predictable returns.
In a nutshell:
PT represents the base value (principal) of a yield-generating asset.
When you buy PT, you’re essentially purchasing an asset at a discount and agreeing to receive its full value later at a set date (maturity).
This is ideal for those who prefer fixed returns — you know exactly how much you’ll get back, similar to a fixed-term deposit.
YT gives holders access to the yield generated by the underlying asset without requiring them to own the principal.
By trading YT, users can speculate on yield fluctuations or maximize their returns by optimizing when they claim their rewards.
In a nutshell:
YT gives you access to the yield (interest or rewards) generated by an asset, without holding the asset itself.
When you own YT, you receive all the rewards the asset earns over time, such as staking yields, airdrops, or lending interest.
Why it’s useful:
If you think the asset’s yield will increase, YT lets you profit more without holding the actual asset.
You can also trade YT based on how much yield people expect the asset to generate.
LP tokens represent a user’s share of a Pendle liquidity pool, which consists of Principal Tokens (PT) and Standard Yield Tokens (SY) (a wrapped version of the underlying asset). Providing liquidity allows users to earn additional passive yield through multiple income streams while maintaining exposure to yield-bearing assets. Unlike traditional LP tokens, Pendle LPs are designed to minimize impermanent loss (IL) and provide stable returns if held until maturity.
In a nutshell:
LP tokens allow users to earn extra yield on their idle yield-bearing assets.
A Pendle liquidity pool consists of PT + SY, meaning that users earn both fixed yields from PT and native yields from SY.
Since PT is always redeemable 1:1 for the underlying asset at maturity, LP providers face zero IL risk at maturity and minimal IL before maturity.
Let’s say you have stETH, which is staked Ethereum on Lido. Normally, stETH earns staking rewards over time, but with Pendle, you can separate the stETH into two parts:
If you own PT-stETH, you own the base ETH but you don’t earn staking rewards until the maturity date.
You can buy PT-stETH at a discount today and receive the full stETH back later when it matures.
Example:
1 stETH is worth $2,000, but PT-stETH might be trading at $1,900 today.
You buy PT-stETH for $1,900, and when it matures, you redeem it for 1 full stETH ($2,000) — locking in a fixed return.
If you own YT-stETH, you don’t own the stETH itself, but you earn all the staking rewards from it until the maturity date.
The more stETH generates in rewards, the more valuable YT-stETH becomes.
Example:
If stETH’s staking APY is 5%, YT-stETH holders will receive that yield instead of PT holders.
If demand for stETH staking increases and APY rises to 8%, YT-stETH holders benefit, and YT becomes more valuable.
If you provide LP-stETH, you are essentially depositing both PT-stETH and SY-stETH into a Pendle liquidity pool. In return, you receive LP tokens, which entitle you to multiple yield sources:
Native stETH staking rewards from the SY portion.
Fixed yield from PT-stETH, which will be redeemable 1:1 at maturity.
Swap fees generated when traders buy/sell PT-stETH or YT-stETH in the liquidity pool.
Additional incentives in $PENDLE if you choose to boost your APY by locking PENDLE for vePENDLE.
Example:
You deposit 1 stETH worth $2,000 into a Pendle liquidity pool.
Your 1 stETH is split into PT-stETH + SY-stETH, and you receive LP tokens representing your share of the pool.
Over time, you earn native stETH staking yield from SY-stETH, fixed yield from PT-stETH, and swap fees from trading activity in the pool.
If you hold the LP tokens until maturity, your PT-stETH will be redeemable 1:1 for stETH, ensuring zero impermanent loss.
With PT and YT, Pendle turns yield-bearing assets into a tradable market, allowing users to:
Lock in fixed returns by buying PT at a discount and redeeming the full value later.
Earn and trade yield separately with YT, maximizing returns based on yield fluctuations
Speculate on future yield trends by trading PT and YT independently.
This gives users more flexibility and new ways to profit from DeFi yield-generating assets.
With the integration of clisBNB into Pendle, users now have enhanced access to Binance Launchpool, Megadrop, and Hodler Airdrop rewards while optimizing their capital efficiency. Traditionally, participating in these events required holding slisBNB or clisBNB within Binance’s ecosystem, but with Pendle, users can trade, speculate, and maximize yield opportunities without being restricted to Binance Web3 Wallets.
Through Pendle’s yield tokenization model, clisBNB holders can separate principal value (PT-clisBNB) from its yield (YT-clisBNB), providing flexibility and strategic yield management. This enables users to either lock in a discounted fixed yield with PT-clisBNB or speculate on Binance Launchpool’s profitability with YT-clisBNB, all while still earning BNB staking rewards.
clisBNB holders can access three major Binance reward programs through Pendle:
Binance Launchpool: Rewards accumulate from the official announcement date based on clisBNB holdings.
Megadrop: Users earn rewards based on Binance’s predefined calculation period.
Hodler Airdrop: Binance takes snapshots of holdings before the event announcement, meaning past holdings directly impact rewards.
Pendle’s YT-clisBNB and SY liquidity pool components allow users to automate their exposure to Binance Launchpool rewards without actively managing their holdings, while PT-clisBNB enables discounted purchases with fixed yield strategies.
Pendle’s YT-clisBNB and SY liquidity pool components allow users to automate their exposure to Binance Launchpool rewards without actively managing their holdings, while PT-clisBNB enables discounted purchases with fixed yield strategies.
Once airdrop tokens are received from Binance, clisBNB will automatically convert the rewards into BNB within an hour of trading opening to mitigate volatility risks. The converted BNB is then distributed to Pendle and its ecosystem partners within 1 to 5 business days, after which users can claim their rewards through Pendle’s designated reward framework.
Users staking clisBNB in Pendle have two ways to claim rewards:
Partner-Managed Distribution: Certain ecosystem partners, such as Astherus, handle reward distribution directly.
Claiming via BNB.xyz: Users staking via Pendle & Pendle-affiliated projects can claim rewards through the BNB.xyz platform.
Maintaining its 1:1 equivalence to BNB, clisBNB ensures fair participation in Binance Launchpool events. Regardless of whether users stake BNB directly or through clisBNB, rewards are distributed under the same calculation model. Additionally, all clisBNB staking is pooled into a unified system, ensuring proportional distribution based on holdings and staking duration.
By integrating clisBNB into Pendle, users gain greater capital efficiency, optimized DeFi strategies, and seamless access to Binance’s most lucrative yield opportunities, all without sacrificing liquidity.
Rewards for clisBNB holders are determined based on Binance’s snapshot timing and the total duration and volume of holdings within the calculation cycle. The longer a user holds clisBNB and the greater their stake, the higher their allocated rewards. This structure ensures a fair distribution of Binance Launchpool, Megadrop, and Hodler Airdrop rewards, aligning incentives for long-term holders.
Once airdrop tokens are received from Binance, clisBNB automatically converts these tokens into BNB within one hour of trading opening. This proactive approach minimizes market volatility risks and secures stable returns for users. The converted BNB is then distributed to Pendle and its ecosystem partners within 1 to 5 business days. After distribution, users can claim their rewards according to Pendle’s reward framework, ensuring a seamless and efficient payout process.
With clisBNB now available on Pendle, users can unlock multiple earning opportunities:
Binance Launchpool APY (claimable in BNB)
BNB Staking APY (claimable in slisBNB)
This allows users to speculate on Binance Launchpool’s frequency and profitability while still earning staking rewards from Lista DAO.
Perfect for users looking for discounted BNB exposure or fixed yield in BNB.
1 PT-clisBNB = 1 BNB staked in Lista at maturity.
Holders can purchase PT at a discount and redeem it at full value upon maturity, effectively securing a fixed yield strategy.
For example, if the maturity of the PT-clisBNB token is in 1 year, and the yield of PT-clisBNB is 45.29%, then users can buy 1 PT-clisBNB at a discount, which is at 0.688 BNB. In one year’s time at maturity, users can exchange 1 PT-clisBNB for 1 BNB.
LP-slisBNB — Providing Liquidity for Extra Yield
When you provide LP-slisBNB, you are depositing PT-clisBNB and SY-slisBNB into a Pendle liquidity pool, which allows you to earn from several passive income streams:
Binance Launchpool APY — Earn rewards from Binance Launchpool in BNB, generated by the SY-slisBNB portion of your liquidity.
BNB Staking APY — The SY-slisBNB portion also continues to accrue staking rewards in slisBNB, just like direct staking.
Fixed Yield from PT-clisBNB — At maturity, PT-slisBNB is redeemable 1:1 for slisBNB, ensuring zero impermanent loss if held until maturity.
Swap Fees — Earn additional rewards from traders who swap PT-slisBNB and YT-clisBNB in the liquidity pool.
$PENDLE Incentives — Users can boost their LP-slisBNB APY by locking PENDLE for vePENDLE, increasing their returns up to 2.5x.
Trade & Speculate on Binance Launchpool APY: Users can actively trade yield and speculate on Launchpool event profitability.
Earn Dual Rewards: BNB staking yield + Launchpool rewards, fully claimable in BNB (for Launchpool) and slisBNB (for staking APY).
Flexible Yield Strategies: Choose between fixed yield (PT-clisBNB) or variable yield (YT-clisBNB) depending on market conditions and personal strategy.
Increased Capital Efficiency: Instead of passively holding slisBNB, users can actively trade yield exposure and optimize returns.
With Pendle, users can trade, speculate, and maximize yield opportunities without being restricted to Binance Web3 Wallets.
Launchpool rewards distribution: Your share of Binance Launchpool rewards is time-volume-weighted across both YT and the SY portion of the LP throughout the event. This means that your share of Binance Launchpool rewards depends on two factors:
How long you hold YT or SY in the liquidity pool (Time)
How much YT or SY you hold compared to others (Volume)
This means:
The longer you hold YT or SY, the more rewards you earn.
The more YT or SY you hold, the bigger your share of the rewards.
Rewards are calculated throughout the entire event, so holding for a longer period and with a larger amount will increase your total earnings.
Launchpool rewards are claimable in BNB, while staking rewards are claimable in slisBNB.
Zap-in with any assets, but zap-out withdrawals will be limited to slisBNB, which can then be queued for withdrawal via Lista’s app.
Existing clisBNB holders must withdraw back into BNB/slisBNB to participate in Pendle’s pool.
Lista DAO’s integration with Pendle marks a major step forward in unlocking new yield strategies for BNB holders and DeFi users. By leveraging clisBNB on Pendle, users can now seamlessly earn, trade, and speculate on Binance Launchpool events while maintaining full flexibility and liquidity. Whether you’re looking for fixed yield, yield speculation, or enhanced DeFi utility, clisBNB on Pendle provides the perfect gateway to maximize your returns.
Start trading & earning with clisBNB on Pendle today! 🚀
Lista DAO
Lista DAO
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