Thetanuts Finance x Pendle for Arbitrum STIP Bridge
With Arbitrum STIP Bridge incentives going live this week, we’re delighted to announce an integration with Pendle — the leading permissionless yield-trading protocol. With this, users that deposit selected Pendle PT assets into our Thetanuts Finance Pendle PT Strategy Vaults will be eligible to receive additional Arbitrum STIP Bridge Incentives.
$ARB Rewards from Pendle
Pendle will be awarding $ARB from their own Arbitrum STIP Bridge to users on Thetanuts Finance for the following Pendle PT Strategy Vaults:
- EtherFi PT-eETH (Sep 2024 Maturity)
- Renzo PT-ezETH (Sep 2024 Maturity)
- Kelp PT-rsETH (Sep 2024 Maturity)
A total of 7,200 $ARB will be distributed from Pendle’s Phase I of the Arbitrum STIP Bridge programme, and being awarded to users who deposit in the above vaults from between June 20 to July 11. These $ARB rewards can be claimed on Pendle’s landing page after the end of Phase I.
Recap of Thetanuts Finance Arbitrum STIP Bridge Incentives
In our previous announcement, we shared that Thetanuts Finance users would be eligible to receive up to 200,000 $ARB under Arbitrum STIP Bridge.
With Pendle PT assets having a significant share of Thetanuts Finance’s TVL through our Pendle PT Strategy Vaults, we have skewed the distribution of our Arbitrum STIP Bridge incentives such that users in these vaults would be eligible to receive up to 65% of the rewards that are set aside for liquidity providers — more yield, more rewards for Pendies!
Thanks to this, users will now be able to enjoy up to 4 sources of yield:
- Fixed yield from Pendle PT assets
- Option Premiums from Selling ETH Options
- Arbitrum STIP Bridge Rewards from Thetanuts Finance
- Arbitrum STIP Bridge Rewards from Pendle
- Upcoming $NUTS Rewards
Conclusion
We’re excited to continue working alongside Pendle, and look forward to building greater synergy in the future. Please feel free to reach us on our Twitter and Discord if you have any questions!
