Market-listing governance threshold
Pendle Finance's assessment for RD-F-072 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Permissionless market creation. Any user or protocol can deploy a new Pendle PT/YT/LP market for any SY asset via the Market Factory contracts (V3-V6 factory versions across chains). The official Pendle UI applies a curation review for visibility, but on-chain creation is fully unconstrained — no governance vote, no whitelist, no minimum liquidity requirement before launch. This enables long-tail or illiquid underlying assets to be listed, creating risk that PT holders are locked into markets where the underlying SY has insufficient secondary liquidity at expiry. Taxonomy designates this factor as lending-only per PD-024, but the Pendle AMM permissionless listing risk is structurally analogous and material. Assessed yellow rather than N/A with this taxonomy flag. v1.6 candidate for expanding the factor's scope to cover permissionless AMM market creation.
Sources #
- DocsPendle V2 Introduction — Market CreationPendle docs Introduction: 'any user or protocol can create a new yield-trading market on-chain' — permissionless on-chain, UI-curated for visibilityretrieved 2026-04-29
- Pendle Protocol Profile §1Profile §1 category notes: 'Anyone can create a Pendle market for any SY asset'retrieved 2026-04-29
- Pendle Ethereum Deployment JSONPendle deployment JSONs list Market Factory V3, V4, V6 per chain — no listing governance contractretrieved 2026-04-29
Methodology #
Classify the governance threshold required to list a new market as: permissionless / low-threshold (team multisig) / high-threshold (DAO vote) / no new listings.
See the full factor methodology and distribution across all protocols →