Pendle Opens Base Market for deJAAA Yield Trading Linked to AAA CLOs

Pendle has opened a Base market for deJAAA that lets traders separate a fund-linked debt token into principal and yield positions, bringing AAA-rated collateralized loan obligation exposure to decentralized finance. In the new pool, principal tokens represent the principal position, while yield tokens receive income through expiry. Traders can take separate positions in the token’s principal and its future income. A yield token’s return depends on the income accrued and the price paid for it. deJAAA gives holders a transferable debt position tied to the Janus Henderson Anemoy AAA CLO Fund, not ownership of its shares.