Pendle Launches Protected Fixed-Yield Product srRoyAPYUSD for STRC, Expiring November 2026

According to Foresight News, yield trading protocol Pendle has launched srRoyAPYUSD (expiring November 2026), a protected fixed-income exposure product for STRC tokens, backed by Royco Protocol. The product features a tiered structure: senior capital (srRoyAPYUSD) enjoys protected yields and only absorbs losses after junior capital is depleted. When apyUSD experiences drawdowns, a 30-day observation period activates, temporarily halting senior withdrawals and redirecting all yields to the junior layer to absorb losses first.
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