# ePENDLE

## Introduction

* If a user converts PENDLE on Equilibria, he/she will receive ePENDLE and PENDLE will be locked as long as possible on Pendle Finance to acquire maximal vePENDLE.
* ePENDLE is a tokenized version of vePENDLE. Users will get ePENDLE at a 1:1 rate with PENDLE converted.

## Why should you hold ePENDLE

### **Earning extra yield**

* **ePENDLE can be staked to earn the extra yield from:**
  * Fees generated from vePENDLE which Equilibria owns, paid out as ETH;
  * Extra rewards from the protocol fee sharing, paid out as PENDLE;
  * Extra rewards from Equilibria emissions;
* **Provide liquidity for ePENDLE on our partner DEXes** and earn liquidity farming reward;

### Exiting a position without waiting for the vePENDLE unlock

* Equilibria will incentivize the ePENDLE/PENDLE liquidity by leveraging the ecosystem partners' effective liquidity pools;
* ePENDLE can be swapped back to PENDLE from those liquidity pools;
* However, please notice that the ePENDLE/PENDLE exchange rate is fully decided by the market.