Fixed Earn

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Why This Matters

DeFi yields are typically variable-rates fluctuate based on market conditions, making it difficult for users to plan ahead. Fixed Earn products solve this by letting users generate a known APY for a set period, similar to traditional fixed-income instruments. Building Fixed Earn products yourself means integrating yield protocols, managing expiry dates, handling slippage on swaps, and tracking position values. We’ve done that. You get one API that handles all the complexity, and works seamless with other DeFi products you built with Compass SDK.

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What It Does

Let users deposit stablecoins and crypto assets into Pendle Principal Token (PT) positions to generate fixed rates for periods ranging from 30 to 180+ days. Users know exactly how much they’ll earn upfront, making it ideal for treasury management, yield planning, or conservative DeFi strategies. You call our API, we return a transaction payload. You or your users sign and broadcast. Users earn predictable returns, you capture fees. Important: Users must first create an Earn Account before depositing into Fixed Earn positions.

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How Fixed Earn Works

Pendle splits yield-bearing tokens into two components:

• Principal Token (PT): Represents the principal amount, trades at a discount to the underlying. At maturity, redeems 1:1 for the underlying asset.
• Yield Token (YT): Represents future yield, which we don’t expose in this product.

When users deposit through our API:

1. Their tokens (e.g., USDC) get swapped for the discounted PT
2. The PT is held in their Earn Account
3. The PT can be redeemed 1:1 for the underlying asset

The difference between deposit cost and redemption value is the fixed earn.

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Supported Chains

Fixed Earn positions are available on Ethereum, Arbitrum, and Base.

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Discover Fixed Earn Opportunities

Markets have expiry dates (30, 60, 90, 180 days, or longer). Use the List Pendle Markets endpoint to find active markets with their current APYs and expiry dates. Find active Pendle markets with the best fixed rates. Filter by chain and asset, sort by TVL or implied APY: The response includes for each market:

• market_address - Use this for deposits
• chain - Blockchain network
• underlying_asset, underlying_symbol, underlying_name - The asset details
• pt_address - Principal Token address
• sy_address, yt_address - Standardized Yield and Yield Token addresses
• implied_apy - The fixed rate users generate (as a percentage)
• tvl_usd - Total Value Locked in USD
• expiry - Market maturity timestamp (Unix epoch seconds)

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Deposit into Fixed Earn Positions

Deposit USDC into a Fixed Earn position on Base. This example deposits 1 USDC from the owner’s Earn Account into the Pendle PT market without embedding a fee and without gas sponsorship: Key parameters:

• market_address: Get this from the List Pendle Markets endpoint
• token: The asset you’re depositing (e.g., “USDC” or token address)
• max_slippage_percent: Maximum acceptable slippage for the PT swap (default: 1%)
• amount: Amount to deposit in the token’s decimals (e.g., “1” = 1 USDC)

Sign and broadcast the transaction:

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Track Fixed Earn Positions

Check your users’ active Fixed Earn positions, including current value, cost basis, unrealized PnL, and time until maturity: The response includes for each Fixed Earn position:

• Market details: Market address, PT address, underlying asset, chain
• Position value: amount_in_underlying_token (current redemption value)
• Expiry: Unix timestamp when PT can be redeemed 1:1
• PnL breakdown:
  • cost_basis: Total deposited (in USD)
  • unrealized_pnl: Expected profit at maturity (current value - cost basis)
  • net_deposits: Total deposits minus withdrawals
  • total_yield_earned: Accrued fixed earnings so far

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Use Cases

Conservative Earn Product: Build a “Fixed Savings” feature where risk-averse users generate predictable returns without exposure to rate fluctuations. Perfect for users who want DeFi earnings but need certainty. Example: User deposits $10,000 USDC into 90-day Fixed Earn position at 12% APY (annualized). They earn $296 over 90 days (12% × 90/365 = 2.96%). Total: $10,296 at maturity (minus gas fees). No surprises. Treasury Management: Let businesses or DAOs generate fixed rates on idle stablecoins. CFOs can plan cash flow knowing exactly what their reserves will earn over the next quarter. Example: DAO with $500,000 USDC treasury deposits into 180-day Fixed Earn at 10% APY. Guaranteed $50,000 earnings over 6 months for operational planning.

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API Reference

The Fixed Earn product uses three main endpoints:

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Next Steps