MNKN
Dashboards / Pendle / USDG
USDG
Chain 196Matures 25 Feb 2027, 119 daysUnderlying USDG at $1.0001
Implied APY
3.02%
fixed rate to maturity
Underlying APY
3.30%
-0.28 pts implied minus underlying
Max APY (LP)
13.70%
Liquidity
$2.83M
TVL
$25.87M
24h volume
$62.7K
Implied 3.02% against 3.30% underlying
Implied and underlying APY, daily
ImpliedUnderlying
Data as of 28 Oct 2026 00:00 UTC/Source Pendle
$25.87M 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 USDG, in Pendle's words and ours.
Class RWA-backed (off-chain collateral)stablesrwa
What it is
USDG is an stablecoin RWA issued by Paxos that is pegged to the US dollar. It is fully redeemable from Paxos on a one-to-one basis for US dollars. This pool will earn rewards which averages at 3.3% APY historically, on top of any additional incentives allocated by Paxos (if applicable).
Refer here for the transparency reports from Paxos on USDG.
Distribution schedule: All USDG underlying rewards, YT extra rewards and co-incentives are targeted to be distributed every Saturday and claimable via the Pendle Dashboard.
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.