Ethena Labs and Pendle Finance Launch PT-USDe-25SEP25 on FiRM

馃敟 Fixed Rates Just Got Spicy

By Inverse.finance
Aug 21, 2025, 3:49 PM
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Ethena Labs and Pendle Finance have launched PT-USDe-25SEP25 on FiRM with compelling yield metrics:

  • Base yield: 13.​63%
  • Fixed DBR borrowing cost: 9.​09%
  • Maximum leverage via ALE: 11.​76x
  • Maximum net APY after costs: 62.​69%

This follows July's successful launch of PT-sUSDe-25SEP25, which received a $1M DOLA injection and offers up to 23.​75% APY net of borrowing costs.​

Note: These are fixed-rate products - always conduct thorough research before participating.​

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