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Dashboards / Pendle / sUSDai
sUSDai
ArbitrumMatures 25 Feb 2027, 119 daysUnderlying sUSDai at $1.1211
Implied APY
9.35%
fixed rate to maturity
Underlying APY
6.42%
+2.93 pts implied minus underlying
Max APY (LP)
9.94%
Liquidity
$6.30M
TVL
$25.22M
24h volume
$62.3K
Implied 9.35% against 6.42% underlying
Implied and underlying APY, daily
ImpliedUnderlying
Data as of 28 Oct 2026 00:00 UTC/Source Pendle
$25.22M locked in this market
Market TVL, USD, daily
Data as of 28 Oct 2026 00:00 UTC/Source Pendle
The collateral
The underlying asset is the risk in a Pendle position. What backs sUSDai, in Pendle's words and ours.
Class RWA-backed (off-chain collateral)stablesrwapoints
What it is
USD.AI is a synthetic dollar protocol designed to finance the physical infrastructure of AI (Compute) and other emerging sectors. sUSDai is the yield-bearing token backed by income-generating Compute or other infrastructure assets. These assets are inherently less liquid than stablecoins, so holders accrue yield for the added risk and are also subject to redemption periods.
The pool will also earn additional points which entitles users to airdrop during USD.AI TGE.
Quirks
- The minting cap for USDai has been reached. Users will swap their input token into USDai via a DEX to obtain USDai. Be aware of potential price impact when swapping.
- Points earned for this pool entitles you to airdrop for USD.AI tokens, rather than allocation to purchase USD.AI tokens during TGE. Refer here for more details.
- No KYC is required for airdrop earned from this pool.
Risk involved
The pool could generate negative yield if the loan that has been originated has defaulted. In this situation, the collateral will be sold to recoup the value of the loan, which may be lower than the remaining principal on the original loan - which leads to negative yield. (from underlying protocol)
Sources: Pendle V2 API (market data and notes). Nothing here is investment advice.