We propose the addition of Ethena’s Pendle asset PT-sUSDe (Mar 25) as a collateral to Compound Comets on Mainnet for Stablecoins. With PT-sUSDe being a popular collateral in DeFi, we believe that addition of the asset will be a key milestone in ensuring high utilization of the Stablecoin markets.
PT-sUSDe is already a proposed collateral on USDS market on Mainnet.
Introduction
Pendle
Pendle Finance is a DeFi protocol that brings new possibilities to yield management by allowing users to tokenize and trade future yield on yield-bearing assets. By separating these assets into principal and yield components, Pendle empowers users to lock in fixed yields or sell future yield upfront. For the Compound community, this means greater flexibility in optimizing returns and enhancing yield strategies across DeFi.
Ethena
Ethena is a decentralized stablecoin protocol designed to maintain stability without reliance on fiat backing. Through innovative over-collateralization and staking mechanisms, Ethena offers a USD-pegged stablecoin that remains resilient to market fluctuations. For the Compound community, Ethena introduces a new asset with dependable value, ideal for diversifying collateral and stabilizing DeFi portfolios, aligning well with risk-averse and growth-oriented strategies alike.
PT-sUSDe (Mar 25)
Pendle Pool link: Pendle
Current AMM liquidity: $166M
Next Steps
We look forward for Community feedback