Pendle (Yield, YT, Locks)
Questions about YTs, Lock YTs, and how yield and pricing behave.
Yield & YT Basics
Does USDai earn yield?
No. USDai is not a yield-bearing token. However, it earns Allo™ and other partner incentives through ecosystem activity and participation.
What yield does sUSDai earn?
sUSDai earns passive yield from real-world asset lending. Target yield ranges from 15% to 25% APR and is influenced by:
On-time borrower repayments
Demand for AI compute or infrastructure capital
Performance and valuation of the collateralized hardware
How is the yield delivered when holding sUSDai?
Yield accrues to your staked position.
When you unstake sUSDai, you’ll receive your original USDai plus accrued yield in USDai.
Why does APR for YT positions look “inflated,” especially near maturity?
APR shown on Pendle and dashboards rises as maturity approaches because YT value trends toward 0. This makes any remaining rewards divided by a very small denominator → APR spikes.
“The closer to maturity, the higher the APR displayed will be pretty meaningless. What matters is IY(Implied Yield), true economic cost of entering YT.”
Why is Pendle APY different from the APY shown on USD.AI’s dashboard?
Pendle uses a backward-looking formula based on realized yield over a sample period. USD.AI’s dashboard APY shows real-time yield, not historical averages.
Thus, the numbers will always differ.
What is the correct way to calculate “earnings” from YT?
APR should be calculated as: APR = rewards / YT notional (the yield you're entitled to).
If you divide by the market price, APR looks unrealistically high, especially near maturity, because YT prices naturally fall toward zero.
Do YTs for USDai go to zero at maturity?
Yes. YT goes to zero at maturity. YT only gives you the right to earn yield until the maturity date. Once that date arrives, there is no more future yield to claim, so the YT has no remaining value.
Locked YTs
Does locking YT earn Pendle-side APY or USDai-side APY?
YT earns Pendle yield, not USDai dashboard yield. YT ≠ holding USDai or sUSDai, so holders benefit from Pendle yield mechanics.
Where/How do I claim yield from my locked YT?
You don’t need to claim it manually. Yield from locked YT is automatically distributed to lockers in batches (about every 20 days). When a distribution happens, the rewards are sent to your wallet.
If I lock my YT USDai from Pendle into the USDAI Lock YT program, do I still receive Pendle yield?
Once you lock your YT into the USDai Lock YT program, you stop receiving any yield on Pendle.
All yield from your locked YT is instead accumulated inside the USD.AI's Lock YT contract and then automatically distributed to your wallet.
Distributions happen in batches roughly every 20 days, and the yield is sent directly to your wallet—no manual claiming needed.
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