Learn / Yields
PT and YT (Pendle)
Pendle splits a yield token into a fixed-rate part (PT) and a variable part (YT).
Video coming soon
In plain words
Buying PT locks in a fixed rate until maturity, when PT is worth the full underlying. YT gets all the variable yield until then and is worth zero after.
Worked example
A PT bought at a 6% discount with a year to maturity earns about 6% if held to the end.
See fixed-rate pools in the lab →Examples use sample numbers. Estimates, not advice.