Pendle nLP LP & YT Multipliers (wNLP)
Get cHIPs on Pendle (25x cHIPs)
How it Works
HyperEVM – via Hyperbeat
USDT → nLP exposure → Pendle SY
This extends the nLP program with explicit cHIPs rewards for YT and LP positions.
Policy
Base Rates
1$ USDC/T in nLP = 1 Epoch Share / day
Multipliers
YT Multiplier = 25x
PT/USDT LP Multiplier = 15x
Flow
Deposit USDT via SY on the chosen chain.
SY acquires the underlying exposure (nLP series) and mints Pendle PT/YT.
You can hold YT or supply PT/USDT liquidity in the Pendle market (LP token).
Your cHIPs accrue off these positions under the rules below (and show in the Points page).
Any nLP emissions on the delegated amount pause, so there's no double-counting between base nLP and Pendle lanes. (Delegation rule mirrors our nLP→Pendle design.)
cHIPs (points) — Pendle-specific rules
See Pendle intern on wNLP markets
We use a simple, Pendle-only accrual rule to keep UX clear:
Base: 1$ USDC/T in nLP = 1 Epoch Share / day
Multipliers:
YT: × 25x
nLP-PT/USDT LP token: × 15x
No double-count: When nLP is delegated to Pendle (minting LP/YT), we pause base nLP cHIPs on that notional and credit only the Pendle lane (YT or LP token) for the duration.
Note: These multipliers apply only to Pendle positions. nLP's own TVL-day rules, lock multipliers, and early-exit discipline remain unchanged.
FAQ
Does this change the base nLP formula?
No. The 1$ USDC/T in nLP = 1 Epoch Share / day base applies to Pendle YT and PT/USDT LP positions.
Where can I see my Pendle cHIPs?
On the Points page under "Pendle YT" and "Pendle LP".
What is the Pendle Pool Migration?
On 15 January 2026, the current Pendle pool that our integration uses is expiring. To ensure the continuity of yield markets, we are immediately rolling over to a new Pendle pool with the exact same mechanics, reward structure, and integration with nLP.
What do I need to do?
That depends on how you are participating:
If you are an nLP user (i.e., you do not use Pendle directly): You don't need to do anything. Your nLP balance, points, and milestone progress will all migrate seamlessly and automatically to the new pool. From your perspective, nothing changes.
If you use Pendle directly: You will need to manually move your position. Simply withdraw your assets from the old, "Archived" Pendle pool and deposit them into the new Pendle pool to continue earning rewards.
What happens to the old Pendle pool?
The old pool will be marked as archived. It is not shut down.
Rewards will stop accruing in the old pool.
Withdrawals will remain open indefinitely.
There are absolutely no penalties and no deadlines for withdrawing.
Will my milestone progress be reset?
No. We are not resetting milestones. The USD value from your positions in both the new (active) and old (archived) pools will continue to count toward your milestone progress. This ensures there is no artificial drop in progress and no incentive for mass selling.
What is the "Leverage Multiplier"?
This is a new, important update to how points are calculated in the new Pendle pool. Previously, the time decay of Yield Tokens (YT) meant that earlier participants were unintentionally penalized, as $1 spent later was more effective than $1 spent earlier.
The Leverage Multiplier fixes this. It tracks the real value of the YT, increasing to compensate as the YT price decays. This ensures that, under constant pool conditions, $1 always buys the same value of cHIPs, regardless of when you participate. This makes the rewards system fairer over time and aligns with our principle that yield should be priced and traded fairly.
Additional Pendle Resources
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