Pendle: Curator Module to Let External Curators Create PT/YT Markets - Q4 2026

Pendle has outlined a curator module planned for Q4 2026 that would open market creation to external curators. Firms such as Armitage, Steakhouse and Gauntlet would create PT/YT markets on Pendle infrastructure and then use the resulting PT as collateral in their own Morpho or Euler pools.The module shifts listing work from Pendle's own team to independent curators, so market creation can scale without each new PT/YT market being hand-curated internally. Curators gain a pipeline from yield market creation to lending deployment, since the PT they mint can immediately back loans on Morpho or Euler. For the token, the accrual path depends on adoption. If curators bootstrap meaningful TVL across their markets, the resulting fees flow disproportionately into PENDLE buybacks, making curator-driven volume a recurring source of token demand rather than a one-time release.