But how do Pendle LPs fare compared against yield-bearing, underlying assets (e.g. stETH, gDAI)? Find out in the next report! To read more about Part 1 of our study on the performance of Pendle liquidity pools, you can check out the full report here:

Our study consists of 2 parts: 1️⃣ LP on Pendle vs. holding underlying asset w/o yield (e.g. ETH) 2️⃣ LP on Pendle vs. depositing in the underlying pool (e.g. stETH) The current piece focuses on Part 1, while a second report will share findings for Part 2!

It's been emphasized how Pendle LPs experience minimal IL. But since no studies have been done, how do you know this to be true? So we went ahead and did one. TL;DR 🔹Providing liquidity on Pendle pools outperforms holding the underlying asset (e.g. ETH) in all cases studied… Show more

It's been emphasized how Pendle LPs experience minimal IL. But since no studies have been done, how do you know this to be true? So we went ahead and did one. TL;DR 🔹Providing liquidity on Pendle pools outperforms holding the underlying asset (e.g. ETH) in all cases studied here, even when excluding PENDLE incentives 🔹No IL observed in all cases studied here 🔹The longer one LPs on Pendle, the greater the outperformance