Apyx PTs are now live on Morpho
Gain access to leveraged PT exposure via Morpho
We’re excited to announce that Pendle PTs are now live on Morpho, with new PT-apyUSD/USDC and PT-apxUSD/USDC markets now available on Ethereum.
This expands the Apyx and Morpho integration beyond core Apyx assets and opens a new lending path for Pendle Principal Tokens. Users can now use Apyx PTs as collateral on Morpho to unlock stable liquidity.
Quick Recap
Apyx is built around two core assets:
- apxUSD, an overcollateralized synthetic dollar backed by Digital Credit
- apyUSD, the yield-bearing layer that accrues dividend-driven yield over time
On Pendle, these assets can be split into PT and YT. PT represents the principal side of the position and allows users to lock in fixed yield until maturity, while YT represents the yield side and gives holders exposure to the underlying yield, rewards, and points until maturity.
With Apyx PTs now live on Morpho, users can make their fixed-yield PT exposure more capital efficient.
What’s Now Live
1. PT-apyUSD/USDC Market
Users can now supply PT-apyUSD as collateral on Morpho and borrow USDC against it.
This creates a new path for users who want to keep their fixed-yield exposure to apyUSD through maturity while unlocking stable liquidity that can be held, deployed across DeFi, or used in broader Apyx strategies.
2. PT-apxUSD/USDC Market
Users can also supply PT-apxUSD as collateral on Morpho and borrow USDC against it.
This gives users another way to put Apyx PTs to work, combining Pendle’s fixed-yield structure with Morpho’s lending flexibility.
Closing Thoughts
This is another step toward a more composable Apyx ecosystem, where Digital Credit can move more efficiently across onchain fixed-yield, lending, and liquidity venues.