Morpho Vaults | Pendlend USDT

PendlendUSDT

V1

Ethereum

Pendlend USDT vault aims to offer attractive interest rates to lenders by underwriting loans against the highest-yield collateral available in the Pendle ecosystem: Liquidity Provider (LP) and Principal (PT) tokens. The vault captures the premium interest paid by leverage loopers and arbitrageurs seeking to maximize Pendle yields, translating into an elevated, single-sided APY for USDT suppliers.

Total Deposits

$1160.47

1160.92 USDT

Liquidity

$792.22

792.52 USDT

Exposure

+3

Net APY

806.32

%

Overview

Vault Configuration

Morpho vault version

v1.1

Vault deployment date

2025-06-23

Curator TVL

$13.88M

Timelock duration

3 days

Total Deposits (USD)

$1160.25

APY Breakdown

Vault Net APY

806.32%

Performance Fee

10%

Allocation

Market Exposure	Vault Allocation (USDT)	Liquidity (USDT)	Underlying Liquidity (USDT)	Supply Cap	APY	Utilization
USDTbacked byWrapped-LP-sUSDE-31JUL2025 91.5% LLTV	476.34	473.72	473.72	$34.98M	0.09%	0.55%
USDTbacked byWrapped-LP-eUSDE-14AUG2025 91.5% LLTV	355.34	0	0	$14.99M	297995.79%	100.00%
USDTbacked byWrapped-LP-sUSDE-27NOV2025 91.5% LLTV	328.01	318.7	318.7	$4.99M	< 0.01%	2.83%
USDTbacked byWrapped-LP-USDe-27NOV2025 91.5% LLTV	1.03	0.1	0.1	$4.99M	4.01%	90.13%
USDTbacked byWrapped-LP-sUSDE-25SEP2025 91.5% LLTV	0	0	0	$4.99M	297995.79%	100.00%
USDTIdle Liquidity	0	0	-	-	-	-
USDTbacked byWrapped-LP-USDS-14AUG2025 91.5% LLTV	0	0	0	$14.99M	0.00%	0.00%
USDTbacked byWrapped-LP-pUSDe-16OCT2025 86% LLTV	0	0	0.05	$4.99M	74312.17%	99.37%
USDTbacked byPT-csUSDL-31JUL2025 91.5% LLTV	0	0	1.85	$9.99M	0.00%	0.00%

Allocation History

Date	Amount	Market
2025-11-21 17:44:47	+207,394.59 USDT+$207.31k	USDTIdle Liquidity
2025-11-21 17:44:47	-112,029.04 USDT-$111.98k	USDTbacked byWrapped-LP-sUSDE-27NOV2025 91.5% LLTV
2025-11-21 17:44:47	-95,365.54 USDT-$95.32k	USDTbacked byWrapped-LP-USDe-27NOV2025 91.5% LLTV
2025-11-17 09:48:59	+20,007.01 USDT+$19.99k	USDTIdle Liquidity
2025-11-17 09:48:59	-20,007.01 USDT-$19.99k	USDTbacked byWrapped-LP-sUSDE-27NOV2025 91.5% LLTV

of

Performance

Position Unit Price (USDT)

1.660625

+54.66%

Returns

Instant APY

806.32%

7D APY

543.89%

30D APY

512.94%

90D APY

458.91%

Fees

Performance fee

10.00%

Performance fee recipient

0x9ce1...3d9C

Returns

Risk

Risk Disclosures

Curator has not submitted a Disclosure.

Ratings

No ratings available for this vault.

Ratings

Vault Roles

Owner

SAFE 1/3

Curator

No Address.

Guardian

Risk Curation

Allocator 1

0x874C...1dBa

Allocator 2

Public Allocator

0xfd32...c75D

Risk Curation

Activity

User Distribution

User	Deposit	% of Deposits
	535.578 USDT$535.37	46.14%
	353.859 USDT$353.72	30.48%
	92.579 USDT$92.54	7.97%
	63.272 USDT$63.24	5.45%
	52.952 USDT$52.93	4.56%

of

User Distribution

All transactions

Date	Type	Amount
2026-08-18 14:21:59	Vault Deposit	473.72 USDT$473.53
2026-08-13 16:17:47	Vault Withdraw	47.795 USDT$47.77
2026-08-13 16:17:47	Vault Transfer	-
2026-08-13 16:01:35	Vault Deposit	47.791 USDT$47.77
2026-07-30 08:35:11	Vault Withdraw	4.96 USDT$4.95
2026-07-30 08:35:11	Vault Transfer	-
2026-07-30 08:25:47	Vault Deposit	4.963 USDT$4.96
2026-07-08 16:02:59	Vault Withdraw	134.823 USDT$134.77
2026-07-08 16:02:59	Vault Transfer	-
2026-07-08 10:44:59	Vault Deposit	134.736 USDT$134.68

1

All Transactions

Deposit USDT

$0

0.00 USDT

Network

Ethereum

Deposit (USDT)

0.00

APY

795.41%

Projected monthly earnings

$0.00

Projected yearly earnings

$0.00

Ratings

No ratings available for this vault.

Deposit USDT

$0

0.00 USDT

Network

Ethereum

Deposit (USDT)

0.00

APY

795.41%

Projected monthly earnings

$0.00

Projected yearly earnings

$0.00

Total Deposits (USD)

$1160.25

Date	Amount	Market
2025-11-21 17:44:47	+207,394.59 USDT+$207.31k	USDTIdle Liquidity
2025-11-21 17:44:47	-112,029.04 USDT-$111.98k	USDTbacked byWrapped-LP-sUSDE-27NOV2025 91.5% LLTV
2025-11-21 17:44:47	-95,365.54 USDT-$95.32k	USDTbacked byWrapped-LP-USDe-27NOV2025 91.5% LLTV
2025-11-17 09:48:59	+20,007.01 USDT+$19.99k	USDTIdle Liquidity
2025-11-17 09:48:59	-20,007.01 USDT-$19.99k	USDTbacked byWrapped-LP-sUSDE-27NOV2025 91.5% LLTV

of

All transactions

Date	Type	Amount
2026-08-18 14:21:59	Vault Deposit	473.72 USDT$473.53
2026-08-13 16:17:47	Vault Withdraw	47.795 USDT$47.77
2026-08-13 16:17:47	Vault Transfer	-
2026-08-13 16:01:35	Vault Deposit	47.791 USDT$47.77
2026-07-30 08:35:11	Vault Withdraw	4.96 USDT$4.95
2026-07-30 08:35:11	Vault Transfer	-
2026-07-30 08:25:47	Vault Deposit	4.963 USDT$4.96
2026-07-08 16:02:59	Vault Withdraw	134.823 USDT$134.77
2026-07-08 16:02:59	Vault Transfer	-
2026-07-08 10:44:59	Vault Deposit	134.736 USDT$134.68

1

Position Unit Price (USDT)

1.660625

+54.66%

Allocator 1

0x874C...1dBa

Allocator 2

Public Allocator

0xfd32...c75D

Vault Roles

Owner

SAFE 1/3

Curator

No Address.

Guardian

Vault Configuration

Morpho vault version

v1.1

Vault deployment date

2025-06-23

Curator TVL

$13.88M

Timelock duration

3 days

User Distribution

User	Deposit	% of Deposits
	535.578 USDT$535.37	46.14%
	353.859 USDT$353.72	30.48%
	92.579 USDT$92.54	7.97%
	63.272 USDT$63.24	5.45%
	52.952 USDT$52.93	4.56%

of

Market Exposure	Vault Allocation (USDT)	Liquidity (USDT)	Underlying Liquidity (USDT)	Supply Cap	APY	Utilization
USDTbacked byWrapped-LP-sUSDE-31JUL2025 91.5% LLTV	476.34	473.72	473.72	$34.98M	0.09%	0.55%
USDTbacked byWrapped-LP-eUSDE-14AUG2025 91.5% LLTV	355.34	0	0	$14.99M	297995.79%	100.00%
USDTbacked byWrapped-LP-sUSDE-27NOV2025 91.5% LLTV	328.01	318.7	318.7	$4.99M	< 0.01%	2.83%
USDTbacked byWrapped-LP-USDe-27NOV2025 91.5% LLTV	1.03	0.1	0.1	$4.99M	4.01%	90.13%
USDTbacked byWrapped-LP-sUSDE-25SEP2025 91.5% LLTV	0	0	0	$4.99M	297995.79%	100.00%
USDTIdle Liquidity	0	0	-	-	-	-
USDTbacked byWrapped-LP-USDS-14AUG2025 91.5% LLTV	0	0	0	$14.99M	0.00%	0.00%
USDTbacked byWrapped-LP-pUSDe-16OCT2025 86% LLTV	0	0	0.05	$4.99M	74312.17%	99.37%
USDTbacked byPT-csUSDL-31JUL2025 91.5% LLTV	0	0	1.85	$9.99M	0.00%	0.00%

Returns

Instant APY

806.32%

7D APY

543.89%

30D APY

512.94%

90D APY

458.91%

Fees

Performance fee

10.00%

Performance fee recipient

0x9ce1...3d9C

PendlendUSDT

V1

Ethereum

Pendlend USDT vault aims to offer attractive interest rates to lenders by underwriting loans against the highest-yield collateral available in the Pendle ecosystem: Liquidity Provider (LP) and Principal (PT) tokens. The vault captures the premium interest paid by leverage loopers and arbitrageurs seeking to maximize Pendle yields, translating into an elevated, single-sided APY for USDT suppliers.

Total Deposits

$1160.47

1160.92 USDT

Liquidity

$792.22

792.52 USDT

Exposure

+3

Net APY

806.32

%

APY Breakdown

Vault Net APY

806.32%

Performance Fee

10%

Net APY

806.32%

Allocation History