pendle

Call swapExactTokenForPt on the PendleRouter with a guessPtOut struct for binary search and a minPtOut for slippage protection. Preview the expected output first using swapExactTokenForPtStatic on PendleRouterStatic, then apply a slippage tolerance of around 1%.

PT represents the principal redeemable 1:1 for the underlying at maturity and trades at a discount before then. YT represents all yield generated until maturity, decays to zero value at expiry, and provides leveraged yield exposure.

Yes, Pendle v2 is deployed on both Ethereum mainnet and Arbitrum with the same Router and RouterStatic addresses on both chains. Market-specific contracts like SY, PT, and YT tokens differ per chain and per maturity date.

ApproxFail occurs when the Router's binary search cannot converge within maxIteration. Widen the guessMin and guessMax range, pass a previewed value as guessOffchain, or increase maxIteration beyond the default 256.

Call getPtToAssetRate on the PendlePtOracle contract with the market address and a TWAP duration such as 900 seconds. The market's observation cardinality must be initialized first via increaseObservationsCardinalityNext, and the window must fill before the TWAP is reliable.

After maturity the AMM stops accepting swaps, but PT redeems 1:1 for the underlying via redeemPyToToken or redeemPyToSy. Accrued YT yield remains claimable through redeemDueInterestAndRewards, and LPs must withdraw their liquidity.