Current APY
14.68%
7D Avg
14.51%
30D Avg
14.45%
Score
85
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sENA is the staked form of ENA — Ethena's governance token — earning staking rewards while locked. Pendle lets you split sENA into PT and YT, so you can lock in a fixed return by purchasing PT-sENA at a discount and redeeming it for full sENA at maturity. 1 PT-sENA earns you a fixed APY locked in at purchase. At maturity (Sep 24, 2026), each PT redeems 1-for-1 into sENA — which equals 1 ENA staked in Ethena. Notice: This strategy requires ENA to deploy and rewards are also denominated in ENA. ENA is highly volatile — a significant price drop can result in large USD losses even if the fixed yield holds. If you prefer stable returns, consider the delta neutral version of this strategy.
This strategy relies on ENA, a non-stable asset. ENA price can change dramatically — if you prefer stable USD returns, check the delta neutral version of this strategy.
Don't buy PT when only a few days remain — gas and swap fees won't cover the remaining yield.
Purchase ENA on OKX DEX or any CEX. Use referral code DEFISENTINEL on OKX DEX to get a fee discount.
Stake your ENA on Ethena to receive sENA. Staking gives you a better base rate and is required to use sENA on Pendle.
Go to the sENA Pendle market, connect your wallet, and purchase PT-sENA. You receive a discounted amount and redeem 1-for-1 at maturity.
