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Quickstart ​

This is the shortest path from opening OpenPendle to holding a position in a Pendle V2 community pool. Six steps: pick a network, find a market, read its trust panel, connect a wallet, take an action, and remember the pool for later. Each step links to a full guide if you want the detail.

The whole flow is client-side. There is no account to create and no sign-up — OpenPendle reads straight from the chain over public RPC, so you can do steps 1 through 3 with no wallet connected at all.

This assumes you know PT and YT

Quickstart shows you where to click, not what the tokens mean. If "PT", "YT", or "SY" are new, read How Pendle works first — it explains the split from first principles in a few minutes. In short: a yield-bearing asset is wrapped as SY, which splits into a Principal Token (PT) that locks in a fixed yield to maturity and a Yield Token (YT) that captures the variable yield.

Community pools are unreviewed

Everything below runs against permissionless community pools — markets anyone can create, that no one has vetted. OpenPendle checks a market's provenance (that a Pendle factory it recognizes created it); it does not and cannot vouch for the asset or the SY contract underneath. A provenance-valid market can still wrap a broken, malicious, or exotic asset. Experimental — use at your own risk, and read Risks & disclosures before you sign anything. Not affiliated with Pendle Finance.

The flow at a glance ​

Steps 1–3 need no wallet. You only connect at step 4, once you have decided a pool is worth transacting on.

1. Pick a network ​

Use the network selector in the header to choose which chain you are reading from. This is the single active network the entire app reads from and where any transaction will be sent. OpenPendle supports six:

NetworkChain IDNative token
Ethereum1ETH
BNB Smart Chain56BNB
Monad143MON
Base8453ETH
Plasma9745XPL
Arbitrum42161ETH

The choice is remembered locally (localStorage key openpendle.chain, default Arbitrum), so the app opens on the same network next time. A given market address exists on exactly one chain — make sure the active network matches the market you are about to open.

If public RPC for a chain rate-limits you, set your own endpoint in RPC settings; the override is stored only in your browser. See Browsing & networks.

2. Find a market ​

A Pendle market (or pool) is an on-chain PendleMarket contract. Its address is what you paste into OpenPendle — not the PT, YT, or SY address. There are two ways to reach one:

  • Paste an address. If someone shared a market address (or a ?import= link), paste it on the home page to load the pool live.
  • Open one you saved. Pools you previously remembered appear in a short preview on the home page, and in full on the Saved Pools page grouped by network.

Because community pools are not listed anywhere central, most people arrive with an address from the pool's creator or their own research. Opening a market runs the provenance gate described next.

See Opening a pool for the full walkthrough.

3. Read the pool and its trust panel ​

Once a market loads, OpenPendle first runs its provenance gate: the market must trace back to a Pendle factory it recognizes, or you cannot save or transact against it. Because Pendle's factories are governance-mutable, the active factory is resolved live at runtime; the hardcoded set is used only for this provenance check.

Provenance is validation, not endorsement. It tells you a Pendle factory minted the market — nothing about whether the asset inside is safe.

The pool view then shows a trust panel surfacing what the market wraps and who controls it: the underlying asset, the SY contract, the maturity date, and the pool's current state. Read it before committing funds. Key things to check:

  • What is the underlying asset, and do you understand its risk?
  • What SY contract does it wrap, and who owns it?
  • When does it mature? After maturity, PT redeems 1:1 for the underlying, YT is worth nothing, and the market stops trading — see Maturity & redemption.
  • Implied APY — the fixed yield implied by the current PT price.

For a field-by-field tour, see Anatomy of a pool and Community pools & incentives.

4. Connect an injected wallet ​

Everything so far worked without a wallet. To transact, connect one.

OpenPendle is injected-only: it talks to a browser wallet directly, with no WalletConnect and no third-party relay. It works with MetaMask, Rabby, Brave, and any injected EIP-6963 provider.

  • Desktop — use the wallet's browser extension, then connect.
  • Mobile — open the site inside a wallet's in-app dApp browser (MetaMask, Rabby, …) or in Brave mobile. A normal mobile browser tab has no injected wallet and cannot connect; this is a deliberate trade-off, not a bug.

If your wallet is on a different chain than the active network, a wrong-network banner offers a one-click switch so your transaction lands on the right chain. Browsing still works either way. See Connecting a wallet.

5. Take an action ​

With a wallet connected on the right chain, you can act on the market. The most common first step is buying PT for a fixed-yield position, but any of these work the same way:

  • Swap to PT — buy the Principal Token for a fixed yield locked in at purchase; hold to maturity to redeem 1:1 for the underlying. See Buying PT.
  • Swap to YT — take yield exposure; YT collects the underlying's yield until maturity. See Buying YT.
  • Mint / Redeem — split SY (or the underlying) into PT + YT, or recombine PT + YT back into SY, any time before maturity. See Minting & redeeming.
  • Add / remove liquidity — provide an LP position to earn swap fees (and any Merkl incentives), or withdraw it. See Providing liquidity.

Every action behaves the same way under the hood:

  1. Quotes update live as you type — you see the expected output before committing.
  2. Simulate before sign — the transaction is simulated against the live chain first, so you see its predicted outcome before you approve it.
  3. Exact-amount approvals — token approvals are scoped to exactly what you are spending. There are no unlimited allowances.

All trades, liquidity, and exits route through Pendle's Router V4 at 0x888888888889758F76e7103c6CbF23ABbF58F946 (the same address on all six chains). OpenPendle adds no fee of its own; Pendle's own protocol fees still apply, enforced by Pendle's contracts.

You are signing a real transaction

Simulation shows the expected result; it is not a guarantee, and it cannot make an unsafe asset safe. Community pools are permissionless and unreviewed — interacting with them can lose you funds. Only sign after you have read the trust panel (step 3) and understand the asset. See Risks & disclosures.

6. Remember the pool ​

Once you have opened a market worth tracking, use Remember this pool to save it. This writes the pool to your browser's local storage (key openpendle.pools.v1) — entirely client-side, with no backend and no account. Nothing leaves your browser unless you choose to export or share.

Saved pools appear on the Saved Pools page, grouped by network, with a short preview on the home page. From there you can:

  • Forget a pool — a roughly four-second Undo toast restores it exactly if you change your mind.
  • Export to JSON, Import, or generate a shareable ?import= link that encodes your registry to move it between browsers or devices.

See Saved pools & privacy for the full registry model.

After maturity ​

Community pools do not need special handling at expiry, but the actions change. At the maturity date, PT becomes redeemable 1:1 for the underlying, YT stops accruing and is worth nothing further, and the market stops trading. You can still redeem PT for the underlying and exit LP through OpenPendle afterward. See Maturity & redemption.

Next ​

Released under the GPL-3.0 License. Not affiliated with Pendle Finance.

OpenPendle is a gift to Pendle's community — built by ggmxbt.