Summary
This proposal recommends offboarding the following expired Pendle PT from Euler Theo: PT-thBILL-19FEB2026.
Expired Pendle PTs stop accruing yield and become simple 1:1 wrappers of the underlying. Offboarding these allows controlling the total exposure to the underlying assets.
Liquidity
| Vault | Total Supply |
|---|---|
| PT-thBILL-19FEB2026 | $4.54M |
Offboarding Process
We recommend the following offboarding process:
- Set supply caps to or near 0
- Ramp down LTVs to 0 over 30 days
- Inform users about the offboarding on public channels
- Once the ramping period is over, remove the vaults from the UI