9h ago
1/ The wait is over. Efficient APY available now.
Leveraging the liquidity of @Ethereum, starting with the APY foundation of @ethena_labs, made powerful with @Pendle_fi’s fixed APY, and multiplied with @Aave.
mPT-sUSDe now live on mStable
Learn more 👇
2/ The foundation of the APY is @Ethena_labs sUSDe.
USDe is backed by crypto assets and hedged with derivative positions
sUSDe is the staked version of USDe
3/ sUSDe is transformed into fixed APY via @Pendle_fi principle tokens
In Pendle, sUSDe is split into a yield token (YT) and principal token (PT). The principle token starts at a discounted price which matures to 1, creating a fixed APY
4/ This fixed APY is then multiplied via @Aave.
Aave is a money market with the deepest liquidity on Ethereum, letting mStable create and manage leverage.
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