Pendle Finance has expanded to XLayer, OKX’s zkEVM Layer 2 network, with its first yield market for USDG. The market, which carries an October 2026 maturity date, lets users lock in fixed returns on a regulated dollar-pegged stablecoin.
The move marks another step in Pendle’s multi-chain expansion and its growing push into real-world asset and stablecoin yield markets throughout 2026. It also represents a meaningful moment for USDG, the Paxos-issued stablecoin that has been live on XLayer since September 2025, now gaining a dedicated venue for yield generation.
How the market works
Pendle’s core product splits yield-bearing assets into two components: Principal Tokens (PT) and Yield Tokens (YT).
PT holders receive a fixed return at maturity. Buy a PT representing $100 of USDG at a discount today, redeem it for the full $100 worth in October. The difference is your yield, known upfront.
