# Offboard expired Pendle Token from Euler Yield (2026-02-19)

**URL:** <https://forum.euler.finance/t/offboard-expired-pendle-token-from-euler-yield-2026-02-19/1819>\
**Category:** Markets\
**Created:** [February 19, 2026, 7:40pm UTC](https://forum.euler.finance/t/offboard-expired-pendle-token-from-euler-yield-2026-02-19/1819 "2026-02-19T19:40:05Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![Gauntlet](https://yyz1.discourse-cdn.com/flex007/user_avatar/forum.euler.finance/gauntlet/32/611_2.png) [@Gauntlet](https://forum.euler.finance/u/Gauntlet)\
**Post date:** [February 19, 2026, 7:40pm UTC](https://forum.euler.finance/t/offboard-expired-pendle-token-from-euler-yield-2026-02-19/1819/1 "2026-02-19T19:40:05Z")

</div>

# Summary

This proposal recommends offboarding the following expired Pendle PT from Euler Theo: PT-pUSDe-16OCT2025.

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-pUSDe-16OCT2025 | $149.18 |

# 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