sUSDf

10/1/2025 - Pendle USD Principal Token (01/28/2026) has a 30d APY of 11.13%, a TVL of 19,894,312, and an Exponential Risk Rating of C. This pool allows you to gain yield from the price appreciation of the Principal token upon maturity.

Pendle USD Principal Token (01/28/2026) on Ethereum (sUSDf)

This pool allows you to gain yield from the price appreciation of the Principal token upon maturity. Principal tokens are bought in a discount to the underlying asset and appreciate to represent a 1:1 conversion.

sUSDf is the yield-bearing counterpart to USDf, earned by staking USDf into Falcon’s ERC-4626 vaults. Its value rises over time as the protocol generates yield through strategies like funding rate arbitrage and altcoin staking.

Your yield is generated from the price appreciation of the Principal token upon maturity. Principal tokens are bought in a discount to the underlying asset and appreciate to represent a 1:1 conversion.

Investment Strategy

Fundamentals

Risk

Risk of losing your entire investment due to systemic issues. Based on chain, protocols and assets.

Reflects how much principal is at risk due to the nature of the pool's economic design

Pendle USD Principal Token (01/28/2026)

Pool Design

Reflects how liquid the asset is, collateralization level, dependency risks, and reliance on centralized entities

Asset Strength

Reflects the economic design of the asset and convex relationships

Asset Tokenomics

Code quality of the underlying smart contracts

Pendle

Protocol Code Quality

Reflects how long the protocol has been around, the value of the assets deposited in the protocol and its level of decentralization

Protocol Maturity

Protocol’s systemic risks or ponzi like dynamics that can lead to loss of principal

Protocol Design

Reflects how long the blockchain has been running and the total value of assets on the network

Ethereum

Chain Maturity

Reflects the blockchain’s fundamental risks, total value invested, and level of decentralization

Chain Design

Reliability of the underlying blockchain from network congestion or halts

Chain Reliability

Pool Fundamentals

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Yield Source

This pool serves as a yield-generating savings account for you to earn yield on your USD stablecoins, subject to market conditions

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Pendle USD Principal Token (01/28/2026)

This pool allows you to gain yield from the price appreciation of the Principal token upon maturity. Principal tokens are bought in a discount to the underlying asset and appreciate to represent a 1:1 conversion.