a few days back, i shared the PT atvUSDC pool on @pendle_fi when it was still yielding around 27% APY. not long after, a whale stepped in with roughly $400k worth of buys instantly pushing the APY down to around 12.34%. that’s how sensitive pendle yields are to demand. once big capital recognizes a strong fixed rate, it doesn’t take long before the discount closes and yields compress. right now, there are still 8 days left before the pool matures. the more people rush in, the faster the discount rate drops, meaning lower returns for late entrants and less yield left on the table. even at ~12% fixed APY, the short-term ROI still sits around 0.27%, which is pretty decent considering the few time(days) left. PT buyers will receive their full capital + profit at maturity, while YT holders are left at zero since the yields have already been distributed over time. in short, PT buyers are locking in predictable returns, while YT traders already captured the variable yields earlier. also notably, today marks the final day to enjoy the 10% ASRT bonus for deposits between $500–$5K. @aarnasays will be deploying these extra rewards to locked deposits until the maturity date on november 13. (don’t sleep on this). pendle’s fixed yields move fast when liquidity flows in. if you catch them early, you don’t just earn higher APY, you front-run the market repricing.