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Dashboards / Pendle / superUSDC
superUSDC
EthereumMatures 26 Nov 2026, 28 daysUnderlying superUSDC at $1.0355
Implied APY
8.53%
fixed rate to maturity
Underlying APY
8.77%
-0.24 pts implied minus underlying
Max APY (LP)
12.89%
Liquidity
$286.9K
TVL
$1.13M
24h volume
$19.6K
Implied 8.53% against 8.77% underlying
Implied and underlying APY, daily
ImpliedUnderlying
Data as of 28 Oct 2026 00:00 UTC/Source Pendle
$1.13M 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 superUSDC, in Pendle's words and ours.
Class Stablecoin (issuer unverified)stablespoints
What it is
SuperUSDC represents a vault that generates yield through fixed-rate and variable-rate onchain lending products optimizes USDC returns across various lending protocols such as Morpho, Euler and Fluid. Earn superform points on top of the yield
Quirks
This market has no special quirks
Risk involved
The vault is not guaranteed to always be up-only. The pool generates negative yield when:
- Performance fees collected by the protocol outweighs the returns generated from USDC deposits.
- Losses from unwinding PT before maturity
- Protocol suffering an exploit
To prevent negative yield, the protocol:
- Has no leverage or rehypothecation position in the vault
- Has ≥80% liquidity buffers
- Applies a Hold-to-maturity PT strategy
- Applies circuit breakers on PPS deviations
Sources: Pendle V2 API (market data and notes). Nothing here is investment advice.