Pendle launches USDe fixed-term markets with 3, 6, 9 and 12-month maturities on Ethereum

Pendle has introduced a new market design called USDe Fixed-Term Markets, letting users lock in fixed-rate terms described as similar to buying a discount note below par that redeems 1:1 for USDe at maturity. Maturities of 3, 6, 9 and 12 months are live on Ethereum, with PT-USDe positions still exitable before maturity via the Pendle market. The company frames this as a new onchain structure mirroring short-term paper purchased directly from an issuer. Pendle also states it is now the largest DeFi venue for tokenized stocks, with roughly 18.5% market share, rising from #7 to #1 in about 1.5 months.

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