Plasma Parade
Pendle has landed on Plasma, and now we’re turning up the excitement even more!
Pendle has landed on Plasma, and now we’re turning up the excitement even more!
Starting today, Pendies can start earning $XPL through Plasma Parade — a series of campaigns on Pendle to supercharge yields and rewards in our Plasma pools:
- Maker Order Rewards — earn $XPL when your limit orders are filled
- Exclusive Pendle Market Incentives — boosted $XPL rewards for YT and LP holders
You can check out all of the campaign details, including rules and epoch/timings on the Plasma Parade app.
Maker Order Rewards
Earn $XPL when your limit orders are filled!
Up to 600,000 $XPL is set aside to reward Makers (i.e. traders whose limit orders get filled in Plasma markets) per epoch. The campaign will run on a biweekly basis, meaning each epoch will last 2 weeks.
For every $1 of taker fee your fills generate, $1 will be rewarded to you in $XPL.
Example:
- Peepo places a $500,000 Buy PT order in the sUSDe market.
- 50% of his order fills, generating about $275 in taker fees.
- Peepo’s rewards = $275 x 100% = $275 worth of $XPL
Do note that if the total cap of 600,000 $XPL is reached, then everyone’s shares of rewards will be scaled down proportionately for that epoch.
Rewards are distributed based on $XPL price at snapshot time (i.e. end of epoch), and distributed within 1 week via Merkl.
Rewards can be claimed directly on the Merkl site.
In addition to the maker order campaign, there are also XPL incentives available to boost yields directly for the following markets (as of now).
- USDe
- sUSDe
- SyrupUSDT
- PlasmaUSD
- aUSDT0
- fUSDT0
As we list more Plasma pools and markets down the road, the list will continue to expand.
XPL Incentives for Pendle
On top of any existing yield, rewards, and points, the aforementioned Pendle markets will also receive ANOTHER stack of XPL.
This means that compared to the underlying assets on Plasma, the Pendle version will have even more XPL, even more yield.
Think of it this way:
- On Plasma, sUSDe earns: Yield + Ethena Sats
- That same sUSDe (Plasma) on Pendle earns: Yield + Ethena Sats + XPL
Do note that this incentive applies to both YT holders and LPs (via the SY portion). Naked SY holders, however, are NOT eligible.
Rewards can be claimed directly on the Merkl site.
XPL Incentives for Pendle YT
That’s not all.
YTs of Plasma markets will receive ANOTHER layer XPL rewards. This will be ON TOP of any native yield, points, or other rewards, including all of the ones mentioned above.
Rewards can be claimed directly on the Merkl site.
⚠️ Please note that this particular incentive is only available for YTs of the aforementioned markets. Other Pendle assets such as SY, PT, and LP are NOT eligible.
In less than a week, Pendle has already become one of the largest protocols on Plasma, surpassing $420M in TVL.
These $XPL-powered campaigns mark the next phase of Pendle’s growth on Plasma. Not just expanding our footprint, but also helping to shape the future of Plasma’s entire yield ecosystem:
- Higher yields and stronger incentives to attract more traders and activity
- Deeper liquidity for Pendle markets, amplifying volume and stability for integrated protocols
- Aligned incentives to accelerate the expansion of Pendle and Plasma’s yield ecosystem together
First, millions.
Then, trillions.
Join the Plasma Parade here!