Rollover time for thBILL on Pendle. @Theo_Network just opened a fresh PT-thBILL market expiring, while the current one sunsets in ~48 hours migrate now to avoid slippage spikes and orphaned YT.
❯ New market: Pendle → PT view → thBILL (Arbitrum market address 0xfad6…e89d)
❯ Strategy: close old PT/YT, re-enter series; or roll PT only and harvest YT if rates look rich
❯ Check: implied fix vs. spot thBILL yield, YT premium/discount, and liquidity depth before sizing
Why this matters: thBILL is a non-rebasing, Treasury-backed base asset splitting it into PT/YT lets you lock a fixed rate (PT) or trade the forward yield (YT). The rollover keeps your rate exposure live without waiting on redemption cycles, and preserves composability across Pendle + downstream money markets once integrations for the new PT land.
How I’m reading the tape: expect brief liquidity fragmentation as capital migrates; spreads should tighten as LPs and integrators point routes to the new series. Watch utilization and the first PT prints for fair value don’t chase thin books.
If you’re hands-on:
❯ Simulate unwind/re-enter; compare net APR after fees
❯ Confirm you’re on the Feb 19 market (not the expiring pool)
❯ Start small, then scale as depth builds
Clean rollover now = smoother carry into February. If you spot better paths, tag me I’ll sanity-check the route
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