MNKN
Dashboards / Pendle / USDat
USDat
MonadMatures 14 Jan 2027, 77 daysUnderlying USDat at $0.9987
Implied APY
8.95%
fixed rate to maturity
Underlying APY
3.00%
+5.95 pts implied minus underlying
Max APY (LP)
10.99%
Liquidity
$1.63M
TVL
$68.26M
24h volume
$126.0K
Implied 8.95% against 3.00% underlying
Implied and underlying APY, daily
ImpliedUnderlying
Data as of 28 Oct 2026 00:00 UTC/Source Pendle
$68.26M 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 USDat, in Pendle's words and ours.
Class Exotic synthetic (DAT / variable-rate preferred backing)stablespointsrwastrcsaturn
What it is
USDat is a stablecoin backed by M0's M, tokenized US Treasuries, pegged to the US dollar. It is fully redeemable from Saturn one-to-one for US dollars.
Insights page for Saturn here.
Quirks
This market has no special quirks
Risk involved
This pool has minimal risk of generating negative yield
Sources: Pendle V2 API (market data and notes). Nothing here is investment advice.