MNKN
Dashboards / Pendle / USDai
USDai
ArbitrumMatures 25 Feb 2027, 119 daysUnderlying USDai at $0.9997
Implied APY
7.19%
fixed rate to maturity
Underlying APY
0.00%
+7.19 pts implied minus underlying
Max APY (LP)
7.01%
Liquidity
$177.3K
TVL
$998.3K
24h volume
$0
Implied 7.19% against 0.00% underlying
Implied and underlying APY, daily
ImpliedUnderlying
Data as of 28 Oct 2026 00:00 UTC/Source Pendle
$998.3K 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 USDai, in Pendle's words and ours.
Class RWA-backed (off-chain collateral)stablespointsrwa
What it is
USD.AI is a synthetic dollar protocol designed to finance the physical infrastructure of AI (Compute) and other emerging sectors. USDai is a fully-backed synthetic dollar, which allows it to be redeemed instantly at all times. It does not earn any yield from loans originated by the protocol but earns additional points which entitles users to more allocation during the ICO of USD.AI.
Quirks
- Points earned for this protocol entitles you to allocation to purchase USD.AI tokens during TGE, rather than airdrops. Refer here for more details.
- KYC is required to purchase USD.AI tokens during TGE.
- USD.AI points has been updated to 10x since 19 Nov 2025
Risk involved
This pool has minimal risk of generating negative yield
Sources: Pendle V2 API (market data and notes). Nothing here is investment advice.