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Pendle tokens are strictly defined within the underlying token. in the router every buy of YT or PT mints both from cUSD keeps one and dumps the other. the YTs bet on the yield the underlying token produces and pay the PTs to pass on that yield. now Cap essentially said the underlying cUSD in Pendle was worth 10% APR while normal cUSD was worth 0. the advertised bonus for Pendle was 2x on points (20x vs 10x). they ended up paying out infinity x for Pendle, despite that the implied APR would have been 0 if the participants had known the points are worth nothing. (with the arbitrary qualification that those who minted both and those who kept the YT portion of the LP received nothing )