About this market
SIERRA is a fixed-yield market on Pendle (Ethereum). The market splits SIERRA into a principal token (PT-SY SIERRA-22OCT2026) that redeems for the underlying at maturity and a yield token (YT-SY SIERRA-22OCT2026) that carries the variable yield until then, so buying the principal token at a discount fixes a rate to maturity while the yield token takes the floating side. It matures on 22 Oct 2026 and is used to fix a rate for a known term, or to trade the underlying's yield separately from its principal.
- Protocol
- Pendle
- Chain
- Ethereum
- Underlying
- SIERRA
- Principal token
- PT-SY SIERRA-22OCT2026
- Yield token
- YT-SY SIERRA-22OCT2026
- Yield accrual
- Fixed to maturity for principal holders, variable for yield holders
