Pendle Finance

Pendle Finance is a yield-trading protocol that tokenizes future yield, allowing users to trade, hedge, and speculate on yield movements. By wrapping yield-bearing assets into Principal Tokens (PT) and Yield Tokens (YT), Pendle enables fixed-rate borrowing through PT purchases and leveraged yield exposure through YT. As HyperEVM generates its own yield-bearing primitives—from liquid staking (stHYPE, LHYPE) to lending receipts—Pendle creates a yield marketplace where Hyperliquid users can lock in fixed returns or maximize yield exposure.

Yield and vault protocols on Hyperliquid give users passive access to sophisticated DeFi strategies — from delta-neutral funding rate arbitrage to leveraged staking loops. Pendle Finance is part of this growing category that keeps capital productive within the ecosystem. With HyperCore's native HLP vault and HyperEVM-based strategies, Hyperliquid offers yield options across the entire risk spectrum.