asUSDF on Pendle
asUSDF is the yield-bearing token of USDF. Staking USDF on Aster mints asUSDF, which earns yield from the delta-neutral positions backing USDF — reflected in asUSDF's net asset value.
Read more about asUSDF and USDF:
Mint asUSDFOn Pendle, asUSDF can be split into its principal and yield components, giving you three ways to engage depending on your goal.
LP-asUSDF — Provide Liquidity
Deposit asUSDF as liquidity on Pendle to receive LP-asUSDF. LP positions earn yield from four sources: underlying yield from USDF, PT fixed yield, $PENDLE incentives, and Pendle swap fees.
Note: Pendle labels underlying yield as coming from USDF because USDF is the underlying stablecoin of asUSDF.
PT-asUSDF — Fixed Yield
PT-asUSDF represents the principal portion of asUSDF, traded at a discount. At maturity, 1 PT-asUSDF redeems for 1 asUSDF at a 1:1 ratio.
Buying PT-asUSDF locks in a fixed APY for the period — the discount you buy in at becomes your guaranteed return if held to maturity.
Example: PT-asUSDF offering 18.39% fixed APY maturing 29 May 2025 returns 18.39% APY if held to maturity, regardless of asUSDF's underlying yield performance.
You do not earn asUSDF underlying yield as a PT holder.
You can hold to maturity or trade PT-asUSDF on Pendle at any time.
YT-asUSDF — Yield Exposure
YT-asUSDF represents the yield portion of asUSDF. Holding 1 YT-asUSDF gives you the yield that would accrue on 1 asUSDF until maturity.
This is a leveraged yield position — you pay a fraction of asUSDF's value to capture all its yield output. YT-asUSDF trends toward $0 as maturity approaches, since remaining yield decreases over time. You profit if the total yield collected exceeds what you paid for the YT.
You can hold to maturity or trade YT-asUSDF on Pendle at any time.
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