The zero-fee promotion on the wstETH loop runs until December 31, 2026. The 29% figure is a stated APY, not a guarantee. Yields on looped positions depend on borrowing costs and the return on the underlying asset, both of which move.
Tokenized stocks join the party
PendleLoop also supports leveraged positions on tokenized US stocks, including AAPLc for Apple and NVDAc for Nvidia. Leverage on these positions ranges from 2.6x to 4.2x, depending on the asset. Incentives tied to the tokenized stock markets can be claimed through Merkl on Base.
Pendle also cited examples of top liquidity loops reporting yields up to 56.76% APY.
The tool also extends beyond Pendle’s own products. It can loop non-Pendle yield-bearing tokens, not just assets native to the Pendle ecosystem.
From PT Looping to PendleLoop
This is not Pendle’s first experiment with automation. Its earlier product, PT Looping, exited beta in September 2026. PT Looping focused on Pendle’s own principal tokens. PendleLoop builds on that foundation and widens the menu to include non-PT assets and tokenized equities.
What this means for traders and DeFi
Leverage magnifies gains and losses alike. A position at 4.2x on a tokenized Nvidia share moves more than four times as hard as the stock itself, and borrowed positions on lending markets like Aave can be liquidated if collateral values fall far enough.
For the wstETH loop specifically, the key variable is the spread between what the staked asset earns and what it costs to borrow. If that spread narrows, the stated APY narrows with it. If it inverts, the loop starts working against the user.
The zero-fee window is a clear customer acquisition play. Running it through December 31, 2026 gives Pendle roughly two months to build habits before fees potentially enter the equation.
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