A roughly 3% decline in PT-reUSD triggered about $36.4 million in liquidations on decentralized lending platform Morpho on Tuesday, highlighting the risks of highly leveraged crypto lending strategies. PT-reUSD is a principal token created through Pendle and linked to reUSD, a dollar-denominated yield-bearing asset. Pendle allows users to split yield-generating assets into principal tokens (PT) and yield tokens (YT), whose combined value reflects the underlying asset. The market disruption began when a wallet purchased a large amount of YT-reUSD, according to blockchain security firm… Read more
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