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Pendle Looping Vaults

The Pendle Looping Vault is an optional next step for depositors who want to boost their yield during the pre-deposit phase. It hands the vault shares to the curator which splits tokens into pendle PT / YT tokens and loops them by using PT tokens as collateral on a lending market.

Pendle Looping vaults use looping strategies to generate higher returns on your stablecoin deposits.

Prerequisite​

You must already hold Stable receipt tokens in your wallet (ctStableUSDT or ctStablefrxUSD).

These tokens represent your early deposit from the Stable Vaults and make you eligible to enter the Looping vault automatically.

Rewards​

  • Rewards will be distributed upon withdrawal of the deposit token
  • Users continue to earn Concrete Points for the duration of the campaign
  • Yield is compounded automatically through Concrete’s strategy engine
  • You can track live APY and pending rewards in the vault page

Timeline​

  1. Operations Begin — Stable vaults (USDT and frxUSD) go live on October 23, 2025
  2. Withdrawals Available — Withdrawals open on November 21, 2025 Users can initiate withdrawal requests after bridging completes.
  3. Immediate Withdrawals from Pendle Looping Vaults — Withdrawals from the Pendle Looping vaults are atomic (instant).
  4. Even though you can withdraw your ctStableUSDT immediately, the underlying stablecoins (USDT or frxUSD) on the Stable Network will only become available for final withdrawal on December 13, 2025.

How to Deposit​

  1. Navigate to app.concrete.xyz
  2. Select the Pendle Looping Vault from the vault list
  3. Check for banner prompts:
    • If you do not have ctStableUSDT or ctStablefrxUSD, you’ll see a banner prompting you to deposit first.
    • If you do have Stable tokens, the banner will not appear — you can proceed directly.
  4. Enter the amount of Pre-Deposit tokens you’d like to deposit
  5. Approve the vault in your wallet when prompted
  6. Confirm the deposit transaction
  7. After confirmation, you’ll receive Looping vault shares ctPendleLoopStableUSDT and ctPendleLoopStablefrxUSD representing your looped position

After Deposit Completes​

  • Your position will begin accruing boosted yield automatically
  • You can check your balance in your Portfolio

Withdrawals (Immediate)​

Withdrawals from the Pendle Looping Vault are immediate once withdrawals are enabled — no waiting period or queue required.

  1. Navigate to app.concrete.xyz
  2. Open your vault
  3. Select the Withdraw tab
  4. Choose the vault you want to withdraw from (e.g. ctStableUSDT or ctStablefrxUSD)
  5. Enter the amount to withdraw — use MAX to withdraw your full balance
  6. Click Withdraw and confirm the transaction in your wallet
  7. Once complete, the app will display “Ready to Claim”

In order to complete the withdrawal of your underlying USDT or frxUSD, please see the withdrawals process for the Stable vaults.