Practical overview
When it fits
Use Pendle when you want to work with the yield component of a crypto asset separately from its principal, or explore yield trading and fixed-yield strategies.
Who it is for
- Crypto users seeking to trade or speculate on yield.
- Users pursuing fixed-yield strategies with yield-bearing assets.
Documented uses
- Separate the principal and yield components of a yield-bearing asset.
- Trade or speculate on yield.
- Pursue fixed-yield strategies.
Requirements & limits
- Pendle’s model splits assets into Principal Tokens and Yield Tokens.
- The described strategies depend on yield-bearing assets; the supplied information does not identify which assets are supported.
Check current requirements in the official documentation. Source-based guidance does not mean OpenViST has run or independently tested this project.
Open a Boros yield-unit position
Use a Boros market to take a long or short position on a funding-rate yield.
Before you start
- A Boros market with an oracle feed for the relevant yield.
- Collateral in the asset required for the desired market.
Steps
Identify a Boros market whose underlying yield is relevant to your strategy.
Place the collateral required for that asset.
Open a long or short position in the Boros market.
Expected outcome
A yield-unit position that expresses a directional view on the underlying funding rate.
Guide limitations
- Positions can be liquidated if the net balance falls below the maintenance margin.
- The documented process does not specify interface actions or collateral amounts.
- Boros currently offers trading of funding rates from various sources; broader yield categories are described as a future expansion.
Hedge perpetual funding payments with a Boros position
Convert floating funding-rate payments or receivables from a perpetual-futures position into a fixed stream until maturity.
Before you start
- An existing perpetual-futures position with funding-rate exposure.
- A corresponding Boros yield-unit market.
- Collateral in the asset required for the Boros market.
Steps
Identify the Boros market corresponding to the perpetual position’s funding rate.
Place the collateral required for that market.
Enter a long YU position to pay a fixed stream and receive the underlying floating funding-rate stream.
Expected outcome
The funding-rate exposure is converted into a fixed payment stream until maturity.
Guide limitations
- Positions can be liquidated if the net balance falls below the maintenance margin.
- The documented process does not specify interface actions or collateral amounts.
Sources & review
Source record details
- Source availability
- Active
- Sources checked
- 7 October 2026
- Original website title
- Pendle - Liberating Yield · Official homepage title · retained in its source language