On November 11, 2026, BlockBeats reported, citing an official announcement, that fixed-term USDe markets launched by Pendle and Ethena were live on Ethereum. The four terms—three, six, nine and 12 months—mature in February, May, August and November 2027, respectively.
The valuation question is the price paid for PT-USDe relative to the USDe received at maturity. A user can buy PT-USDe below face value and, if they hold it to maturity, redeem it for USDe at a 1:1 ratio. That purchase discount determines the hold-to-maturity return. Users seeking to exit earlier can sell PT-USDe on the Pendle market instead; the reported maturity terms do not establish what an early sale would return.
Original report, published November 11, 2026 at 15:21 UTC+8.