Pendle launches USDe fixed-term market, offering four terms ranging from 3 to 12 months.

November 11 - According to official sources, the USDe fixed-term market launched by Pendle in collaboration with Ethena has gone live on Ethereum, offering four terms of 3 months, 6 months, 9 months, and 12 months, maturing in February, May, August, and November 2027, respectively.

The mechanism of this market is similar to discount notes: users purchase PT-USDe at a price below face value, hold until maturity to redeem 1:1 for USDe, thereby locking in the yield to maturity. For early exit, users can still sell PT-USDe on the Pendle market.