PT Staked cap USD 23JUL2026 · by Cap · stable-PT
PT-stcUSD is a Pendle Principal Token on stcUSD, Cap's yield-bearing stablecoin backed by cUSD. It represents a fixed-yield position with yield generated by Cap's autonomous operator network, maturing 23 Jul 2026.
Spiral Stake supplies PT-stcUSD as collateral on Morpho, borrows a correlated asset against it, and recycles that back into more PT-stcUSD — looping in a single transaction to amplify the underlying Operator Yield yield. Because the assets are price-correlated, the position targets a higher APY rather than a directional bet, with every cost and liquidation threshold shown upfront.
Leveraged PT-stcUSD yield is a strategy that loops PT-stcUSD on the Morpho lending protocol to multiply your exposure to its Operator Yield yield. Spiral Stake executes the whole loop in a single transaction.
PT-stcUSD earns yield from Operator Yield, issued by Cap. Looping amplifies that base yield.
Leveraged positions carry liquidation risk if collateral value falls relative to the borrowed asset, plus smart-contract and market risk. Every cost and liquidation threshold is shown before you confirm.
Live APY, leverage multiplier and available liquidity are shown in the app.