Pendle launched a market on October 21, 2026, allowing users to split and trade tokenized exposure to Janus Henderson’s AAA-rated collateralized loan obligation fund, known as JAAA. The deJAAA token, which represents shares in the fund tokenized by Anemoy Capital through Centrifuge, separates principal from the yield stream so both can be traded on-chain. The fund launched in mid-2025 with $1 billion in seed capital from the Sky ecosystem and currently manages between $580 million and $690 million in on-chain assets, with an estimated net asset value of approximately $1.05 per token. Its recent floating-rate yields have ranged from 3% to 4.5%, while its management fee is 0.50%. Users can now use deJAAA as collateral or hedge its yield, adding risks linked to interest-rate changes, smart contracts, and proposed increases in loan-to-value ratios on Aave Horizon.
Source: Read the original article
