The Pendle sUSDe PT token, listed on the Aave lending protocol, is approaching full utilization with over 98% of its $200 million supply limit allocated.
The token, which expires on September 25, was made available on Aave this week, enabling users to utilize it as collateral. Its addition has attracted significant capital, with Aave currently holding over $2 billion worth of the token as collateral within its protocol.
Pendle PT tokens, representing principal in future yield-bearing assets, command a substantial market presence. The broader Pendle PT market capitalization now exceeds $2.67 billion.
The high allocation rate and significant collateral backing on Aave underscore strong demand for exposure to structured yield products within the decentralized finance sector.