Turn Your Pendle LP cmETH into Passive Yield on Demex

This Season 3: Methamorphosis, we’re focused on expanding $cmETH’s presence across chains, rewarding integrations, and positioning it as a chain-agnostic restaking asset through new growth initiatives and broader incentives. One key approach to achieving this is by establishing symbiotic working relationships with key ecosystem partners.

As such, our previous spotlight on Pendle directly connects to our latest feature: Demex.

What is Demex?

Demex is an L1 platform supporting up to 50,000 orders per second with a 1.6-second block finality time. Through its custom consensus algorithm and proprietary oracle P2P protocol, data feeds for any asset can be updated to the L1 within one second.

Currently, Demex supports a wide range of DeFi use cases, including on-chain trading with spot, perpetuals, and futures, as well as lending, borrowing, and earning via staking and liquidity pools. Demex’s spot and perpetual order books are backed by liquidity vaults and AMMs, providing users with deep liquidity and near-zero slippage across all markets.

Nitron, the native Collateralized Debt Position module on Demex, allows users to passively earn yield on idle assets. As Nitron is cross-chain, users can lend and borrow assets like $cmETH across multiple networks, including Mantle.

Pendle x Demex

As mentioned earlier, our key ecosystem partners coexist through symbiotic relationships centered around assets like $cmETH. In the case of Demex, depositing 1 Pendle LP cmETH earns a user 40x Powder per day.

Note: LP cmETH also includes YT. For calculating the YT amount within the LP, you can refer to the FAQ section: How is Pendle’s Powder calculated?

Let’s dive into a step-by-step guide below.

Step 1: Visit Demex

Start off by visiting Demex’s official website. Once there, navigate to the Earn Section and select “Lend, Borrow, Mint”. This will bring you to Nitron, the native Collateralized Debt Position module on Demex.

Step 2: Lend LPcmETH

You should now be brought to a page showing all available markets to lend assets in. Search for “LPcmETH” and select the first option, titled “LPcmETH_13FEB2025”. Click “Lend”.

Step 3: Connect Wallet

After connecting your Wallet and making sure you’re on Mantle Network, you can now choose an amount of LPcmETH that you’d like to deposit. Once you’ve entered an amount, Base APY will be calculated, along with Rewards APY, Net APY, and Health Factor. If you’re satisfied with the below metrics, click “Lend”.

Step 4: Start Earning Rewards

After signing and approving your transaction, you’re ready to start earning Powder rewards. Keep track of your positions by visiting the “Your Positions” tab showcasing current lend value, health factors, and net APY.