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Dashboards / Pendle / strUSD
strUSD
MonadMatures 4 Feb 2027, 98 daysUnderlying strUSD-scaled18 at $1.0342
Implied APY
11.52%
fixed rate to maturity
Underlying APY
9.64%
+1.89 pts implied minus underlying
Max APY (LP)
11.51%
Liquidity
$1.38M
TVL
$1.45M
24h volume
$0
Implied 11.52% against 9.64% underlying
Implied and underlying APY, daily
ImpliedUnderlying
Data as of 28 Oct 2026 00:00 UTC/Source Pendle
$1.45M 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 strUSD-scaled18, in Pendle's words and ours.
Class Stablecoin (issuer unverified)stablespoints
What it is
strUSD is Tori Finance's yield-bearing token, minted by staking trUSD. It accrues yield automatically from the protocol's institutional trading strategies (futures arbitrage, calendar spreads, and options positions) all structured to be delta-neutral and market-neutral, so returns come from pricing opportunities rather than market direction. Reserve data is verifiable via Tori's transparency dashboard.
Quirks
This market has no special quirks
Risk involved
- Vault risk: The underlying vault allocates its deposits across multiple DeFi strategies and is subject to performance of the strategies. There could potentially be negative yield if there are unprofitable strategies. Refer here for the underlying allocation for the vault.
Sources: Pendle V2 API (market data and notes). Nothing here is investment advice.