Apyx is now live on Pendle

Today, Apyx is live on Pendle with dedicated pools for apxUSD (17 Jun 2026) and apyUSD (17 Jun 2026), giving users more control over how they earn yield. With Pendle’s PT and YT markets, users can choose between fixed-rate exposure via Principal Tokens (PT) or floating yield exposure plus Pips via Yield Tokens (YT).

Quick Recap

Apyx is the first dividend-backed stablecoin (DBS) protocol powered by preferred equity yield from Digital Asset Treasuries (“DATs”), built around two core assets: apxUSD and apyUSD.

• apxUSD is a synthetic dollar backed by DAT-issued preferred shares, designed to translate offchain dividend cash flows into onchain dollar liquidity.
• apyUSD represents locked apxUSD. As dividends are paid on the DAT preferred shares backing apxUSD, that yield accrues to apyUSD over time. The design aims to scale stablecoin yield through dividend cash flows rather than relying on strategies that typically require greater risk or become harder to expand at size.

What is Pendle?

Pendle creates a marketplace for yield by allowing yield-bearing assets to be decomposed into two tradable tokens: PT and YT, enabling users to hedge, speculate, or lock in returns.

• PT (Principal Token)
  • tracks the principal value and functions similarly to a zero-coupon instrument. PT typically trades at a discount and can be redeemed 1:1 for the underlying accounting asset at maturity, which is what enables a fixed yield outcome.
• YT (Yield Token)
  • captures all yield generated by the underlying asset until maturity. YT is suited for users who want floating yield exposure or want to position for yields to move.

In practice, PT is generally preferred by users seeking rate certainty, while YT is typically chosen by users with a higher risk appetite for variable yield dynamics.

Earn More Pips

Pendle users who hold the following positions will get multipliers, including:

• YT-apxUSD holders: 16x Pips
• LP-apxUSD holders: 12x Pips
• YT-apyUSD holders: 13x Pips
• LP-apyUSD holders: 11x Pips

Note: Pendle PT positions do not earn Pips.

How to Trade PT or YT on Pendle

Both apxUSD and apyUSD markets are now available on Pendle. The steps below use apyUSD as the walkthrough example.

1. Open the apyUSD market in the Pendle App
2. Swap from any supported token into PT-apyUSD or YT-apyUSD:

• PT: Hold to maturity to redeem 1:1 for the accounting asset and realize a fixed return profile.
• YT: Hold for streaming yield exposure until maturity, or exit any time by swapping out.

3. After acquiring PT-apyUSD or YT-apyUSD, users can either hold through maturity or trade earlier depending on preference.

Conclusion

With Apyx now on Pendle, users can tailor yield exposure by choosing PT or YT for apxUSD and apyUSD. Questions can be directed to the Apyx or Pendle Discords.

If you have any questions, please refer to ours or Pendle's discords.