{"_id":"token-444598","name":"Pendle — PT-USDat-14JAN2027 (fixed rate to 2027-01-14) on Ethereum","ticker":"DL-PENDLEV2-USDAT-ETHEREUM-C359","pillar":"Fixed Income","type":"Pendle principal token (fixed rate)","category":"DeFi Lending","description":"PT-USDat-14JAN2027 is the principal half of USDAT split by Pendle: it trades below 1 USDAT and redeems 1:1 at maturity on 2027-01-14. Buying it now locks in about 8.06% a year if held to maturity (DefiLlama, 2026-10-19; $2.3M in the market). Selling before maturity happens at the market price, which can be lower. The rate is fixed, the underlying is not: if USDAT itself loses value, so does the PT. Smart-contract risk applies (Pendle and the underlying protocol).","apy":"8.06% (fixed to 2027-01-14, DefiLlama 2026-10-19)","risk":"Not rated (imported)","minInvestment":"None","issuer":"Pendle (protocol)","yieldSource":"Discount to face value — the yield USDAT earns until maturity, sold upfront","maturity":"2027-01-14","term":null,"liquidity":"Sell on Pendle’s market before maturity, or redeem 1:1 at maturity","aum":"$2.3M","network":"Ethereum","country":"Decentralized protocol","custody":"Self-custody (smart contract)","howToBuy":"Swap a stablecoin for the PT on Pendle (pendle.finance) from a self-custody wallet","rating":null,"kyc":"None on-chain (the PT is a freely transferable ERC-20)","networkFee":null,"networkFeeUsd":null,"investUrl":"https://app.pendle.finance/trade/markets","source":"https://defillama.com/yields/pool/c3590202-2568-597a-8c7a-3f25fed83b34","lastVerified":"2026-10-19","featured":false,"apyPct":8.06,"apyPctLow":null,"apyPctHigh":null,"apyKind":"fixed","minInvestmentUsd":null,"custodyType":"self","access":{"kycMint":"none","kycSecondary":"none","kycRedeem":"none","accreditedOnly":false,"whitelistRequired":false},"verified":"imported","isin":null,"underlyingSymbol":null,"underlyingIsin":null,"lifecycle":"live","maturityDate":"2027-01-14","contract":null,"targetArea":[],"areas":[],"_links":{"page":"https://tokenbank.world/token/DL-PENDLEV2-USDAT-ETHEREUM-C359","all":"https://tokenbank.world/api/tokens"},"_disclaimer":"Sourced figures; yields are variable and not guaranteed. Target/Area describe who the issuer aims the product at and where. They are not an eligibility check — who may buy is set by the issuer. Not investment advice. Verify the source before relying on any figure."}