Pendle Print #
114#
• Pendle now holds ~$440M TVL in STRC markets; ~2.45M STRC non-custodially
• More users are holding Pendle positions than the underlying tokenized STRC assets - a deep dive into "The Pendle Effect" on STRC onchain
• USDG crosses $200M TVL on Pendle
• New pools: STRCx (Aug 2026), srRoyAPYUSD (Nov 2026), fxSAVE (Oct 2026)
• Revised math and outlook for YT-SIERRA (Spoiler: it's better)