In response to the demand for a Pendle listing—and with Pendle soon to be fully open, community-driven(https://x.com/pendle_fi/status/1915752715487232129)
I have researched a checklist to prepare for it.
| # | Criterion | deUSD / sdeUSD Status | Gaps / Action Items |
|---|---|---|---|
| 1 | ERC-4626 or other non-rebasing yield token – SY wrapper can’t accept rebasing assets. | Partial – sdeUSD rebases; a wrapped fixed-supply version (e.g., wsdeUSD) is required. | Deploy & audit wsdeUSD. |
| 2 | Transparent, stream-based yield model – deterministic accrual (staking, T-Bills, funding). | Yes – delta-neutral funding + sUSDS T-Bill yield published on-chain. | – |
| 3 | ≥ USD 10 M TVL or ≥ USD 500 k liquidity incentives to ensure depth on launch. | Yes ≈ USD 180 M supply | – |
| 4 | ≥ 2 Tier-1 audits + bug-bounty to limit smart-contract risk. | Yes – Quantstamp & Trail of Bits audits + Immunefi program. | – |
| 5 | Dedicated curator (risk manager) – Pendle Core or Gauntlet governs pool parameters. | Yes – deUSD&sdeUSD partnered Gauntlet & Morpho vaults . | |
| 6 | Deployment on Pendle-supported chain (ETH, Arbitrum, Optimism, Base). | Yes – ERC-20 on Ethereum Mainnet. | – |
The six items above are not definitive; they’re simply the minimal common factors shared by most yield product listed on Pendle so far
deUSD alone passes the non-rebase rule, but it carries no streaming yield inside the token,
so Pendle cannot split it into PT/YT. But sdeUSD meets nearly every requirement.
Real-time on-chain oracle feeder arrangements were excluded because it is under technical-support matter.