STETH Lending (Pendle)

Where the yield comes from

The reported yield comes from automated vault strategy income. Composition varies by underlying LP fees, incentives, and compounding.

What can reduce the rate

Yield may fall as underlying rates, rewards, or strategy conditions change.

Risk detail

Yield.ly's risk assessment summarizes observable factors and data coverage. It is not an audit, credit rating, guarantee, or recommendation. Smart contracts, assets, protocols, custodians, and market conditions can fail in ways the model does not detect.

Risk dimensions

• ProtocolHigher concern+
• GovernanceUnknown+
• Oracle dependencyUnknown+
• AssetModerate concern+
• LiquidityHigher concern+
• Rate durabilityModerate concern+
• ExposureHigher concern+
• Custody and counterpartyUnknown+
• Terms and redemptionUnknown+
• InterconnectionModerate concern+
• Data qualityModerate concern+

Principal risks

• Yield.ly did not verify an audit report covering this specific opportunity.
• Strategy includes leverage or stacked structural complexity.
• Oracle design is unknown for an oracle-dependent product.
• Strategy appears leveraged, recursive, or structurally complex.

Exposure

Exposure type

Single asset

Assets

STETH

User deposits STETH. Funds enter Pendle on ethereum. Exit via vault redemption.

Exit conditions

Exit terms are not fully reported.

Qualification notes

Meets Yield.ly's current requirements for default discovery where qualified. Learn how qualification works

• Risk flag

  Oracle design is unknown for an oracle-dependent product.

• Risk flag

  Strategy appears leveraged, recursive, or structurally complex.

Data sources

Source observed

Oct 21, 2026, 4:10 PM UTC

Yield.ly refresh

Oct 21, 2026, 4:22 PM UTC

Data generated

Oct 21, 2026, 4:37 PM UTC

• DefiLlama · total APY, base APY, reward APY, TVL
• CoinGecko · token icon

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