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STRC and USDG Yield Markets Drive On-Chain Growth, Pendle RWA TVL Ratio Rises to 97%

2026.05.19 08:11:09

May 19th, per official Pendle protocol data, the platform non-custodially holds 2,453,331 STRC via the STRC yield token market, making it a core on-chain hub for digital credit yield discovery and liquidity. Pendle’s USDG liquidity pool—backed by U.S. Treasury bonds as its underlying asset—ballooned to $230 million in total value locked (TVL) in just one weekend. The protocol’s $120 million PT-USDG allocation on Aave is already fully utilized. As U.S. Treasury and structured credit asset markets keep expanding, Pendle’s Real World Assets (RWA) total locked value has climbed to 97%, further reinforcing its top position in the on-chain yield trading space.
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