Separate the dividend stream
from the share itself.
Deposit a bStock. Receive paired PT (locks UI quantity against splits and dividends) + YT (captures all multiplier appreciation through expiry). Both ERC-20s, both tradeable on PancakeSwap V3. The first Pendle-style splitter native to BEP-8056 nobody else has this.
PT redeems for raw × ENTRY_MUL/M_e raw NVDAB at expiry exactly enough to preserve the original UI quantity. YT redeems for the complement raw × (1 − ENTRY_MUL/M_e), capturing all dividend/split appreciation. Conservation always sums to the raw deposit.
+How PT / YT works on BEP-8056
Pendle pioneered yield-bearing token splitting on Ethereum. We adapt the model to BEP-8056's uiMultiplier: the Splitter locks the multiplier at deployment as ENTRY_MUL, then at expiry redeems PT and YT from the same raw pool by share of the multiplier appreciation. Strictly conservative total redeem = raw deposit, always.
A pair of ERC-20 derivatives (PT + YT) minted against any raw bStock deposit. Each pair is one Splitter contract, one expiry.
PT lets you hold a stable UI quantity across earnings + corporate actions. YT lets you speculate on dividend payouts directly. Both are tradeable on PancakeSwap so the market prices them independently.
Mint paired PT + YT 1:1 against deposit. Before expiry, unmint matched pairs back to underlying. After expiry, redeem PT or YT separately for their split of the underlying pool.
- 1.Pick a Splitter (bStock + expiry).
- 2.Deposit raw bStock receive equal PT + YT.
- 3.Trade PT or YT on PancakeSwap, or hold to expiry.
- 4.After expiry, redeem PT (preserves UI quantity) or YT (captures appreciation) separately.