Pendle Principal Tokens Gain Traction as DeFi Collateral
Pendle Principal Tokens Gain Traction as DeFi Collateral
🎯 DeFi's New Favorite Collateral
Pendle Principal Tokens (PTs) have established themselves as a significant asset class in DeFi, particularly as collateral for lending. Major platforms including Aave, Morpho Labs, and Euler Finance have integrated PT support.
Key developments:
- PTs now represent ~$1.2B in total value
- Account for 3.3% of total collateral across EVM chains
- Best performance seen in PTs backed by stable yields like staking rewards
The growth demonstrates PTs' effectiveness in bootstrapping utility and deepening liquidity for DeFi protocols. @chaos_labs analysis validates their potential as reliable collateral assets.
In recent times, Pendle PTs have emerged as a core asset class in DeFi, unlocking and popularising fixed-rate as collateral with increasingly widespread acceptance by @Aave, @MorphoLabs, @EulerFinance and the likes. It’s interesting to see how DeFi lending has continually
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New Aave x FalconStable Pools Launch on Pendle
Pendle introduces two new pools with Aave and FalconStable integration: - **USDf Pool (29 Jan 2026)** - Non-yield bearing version of sUSDf - 60x Falcon Miles for YT and Pendle LP - **Yearn aGHO-USDf Pool (29 Jan 2026)** - Combines aGHO and USDf on Balancer - Benefits include: - aGHO supply APY - Balancer swap fees - BAL rewards - 60x Falcon Miles multiplier *Watch for upcoming Aave bribes on StakeDAO, Penpie, and Equilibria* [Trade USDf Pool](https://app.pendle.finance/trade/pools/0xc65b7a0f8fc97e1d548860d866f4304e039ef016/zap/in?chain=ethereum) [Trade Yearn Pool](https://app.pendle.finance/trade/pools/0x51026ab8b54767e67f7f5543c86bf718cf00cb4c/zap/in?chain=ethereum)
Pendle LP Collateral Markets on Morpho Reach Full Utilization
Pendle LP collateral markets on Morpho have achieved significant adoption, with all markets reaching 90% utilization or hitting their 100% minting caps. The total value of Pendle-powered collateral on Morpho has reached approximately $517M, combining both Principal Tokens (PTs) and LP positions. Available LP collateral markets include: - sUSDe (25 Sep 2025) - sUSDe (31 Jul 2025) - eUSDe (14 Aug 2025) K3 Capital's USDT lending vault is now live on Morpho, enabling users to earn yield by providing liquidity to service Pendle LP and PT collateral demand. [Learn more about Pendle on Morpho](https://morpho.org)