Plume Nest Points (PNP) Season 1 is coming to a close.
The Season 1 incentive program will officially conclude on March 13, 2026, marking the end of new PNP accrual across Nest vaults. For users participating through Pendle markets, PNP will continue to accruing until the Pendle market preaches its contractual maturity on March 28, 2026
This marks the end of Season 1 PNP point accrual. Not the end of Nest vaults, not the end of yield, and not the end of Plume Points (PP).
Since launching in November 2025, PNP has driven strong participation across Nest vaults and ecosystem integrations. The campaign brought in ~$20M in net new TVL and attracted 85,000+ participating wallets, with users actively contributing liquidity and activity across the protocol.
More importantly, PNP helped establish the core vision behind Nest: connecting real-world yield, DeFi liquidity, and user ownership into a single ecosystem where participation is directly rewarded.
As Season 1 wraps up, it’s important to note what’s changing and what isn’t. This marks the end of Season 1 PNP point accrual, but it is not the end of Nest vaults, Plume Points (PP) or, more importantly, real-world yield opportunities.
Below is a guide to how the wrap-up process will work and what users can expect next.
What Happens on March 13, 2026
Season 1 PNP accrual ends
- Final accounting begins
- Vault yield continues as normal
- Users do not need to withdraw funds or take immediate action
- Pendle Yield Tokens (YT) will continue to earn PNP until the end of the Pendle contract until March 28, 2026
Looking Back at Season 1
The quoted APY boosts displayed in the Nest UI (e.g., +X%) reflected real emissions being distributed at that time.
Example
When depositing into a Nest vault during Season 1, the UI might show:
- Base RWA Yield: 8%
- Nest Boost (PNP + ecosystem incentives): +5%
- Total Displayed APY: 13%
That +5% was not theoretical.It reflected live emissions flowing to that vault at its current TVL level.
As vault TVL fluctuated, the incentive yield component adjusted accordingly, since emissions were distributed across the vault’s total capital.
At any given moment, the yield shown in the UI matched the emissions being distributed. Users farmed based on real-time vault-level yield conditions.
As Nest evolved, incentives were rebalanced towards selected vaults to maximize yield and curated protocols to promote ecosystem growth. The program adapted dynamically to market conditions and demand, rather than adhering to a static structure.
Pendle Markets
For users holding Pendle Yield Tokens (YT) tied to Nest vaults: Nothing changes before maturity.
If you are holding YT:
- You continue accruing underlying vault yield daily until March 28, 2026
- PNP points will continue to accrue through Pendle positions until market maturity
- Associated emissions and performance continue flowing through maturity
March 13
- Season 1 PNP accounting ends
March 28
- Pendle market reaches contractual maturity
- YT stops accruing additional yield
- Market settles per standard Pendle mechanics
Season 1 ending does not impact yield already structured into existing Pendle positions.
We will share separate guidance closer to maturity to ensure a smooth unwind process for YT and PT holders.
Pendle YT Holders Airdrop Claim
Users who participated in PNP through Pendle YT will also be required to complete the airdrop registration form to claim their allocation.
This step is required for all eligible users due to the legal attestation included in the registration process. Completing the form ensures your wallet is registered and eligible to receive the Season 1 distribution.
Pendle YT holders will continue earning PNP until the market reaches expiry. After expiry, users will still have sufficient time to complete the airdrop registration before claiming their tokens.
We are coordinating with the Pendle team to help communicate the claim process and make the user flow as smooth as possible.
Airdrop Claim
The airdrop registration form will go live in April as a separate step before the claim process. Users will need to complete this registration to remain eligible for the Season 1 distribution.
We will announce when registration opens across social channels, Discord, and the Nest UI, so please keep an eye out for updates. Instructions for the claim portal will be shared separately once claims go live.
Once the claim portal opens, eligible users will be able to claim their tokens immediately after completing the registration process. Users will receive their full Season 1 allocation at the time of claim. Detailed instructions will be shared when the claim portal goes live.portant: You must complete the airdrop registration form to claim your tokens. Wallets that do not register will not be eligible to claim.
If you encounter any issues during the registration process, please submit a ticket through our community support channels so the team can assist.
Please also note that airdrop claims can only be made by the registered wallet. If a wallet is compromised or access is lost, the team may not be able to recover or reassign the allocation.
Timeline
March 13
- Season 1 PNP accrual ends and accounting begins
March 28
- Pendle market expires
- Final yield accrual completes
- Incentive accounting finalized
April
- Airdrop pre-registration form goes live
- Users can verify wallet eligibility and confirm participation
- Claim site goes live
- Eligible wallets can claim allocated PLUME tokens
End of Season 1: Establishing New RWA Yield Markets
Season 1 of PNP was designed to test and validate a simple idea: that there is real demand for real-world yield onchain.
While this demand has always existed, building scalable onchain markets around it requires more than just yield sources. It requires liquidity, active users, and coordinated incentives to bootstrap the early stages of market formation.
PNP Season 1 helped establish those foundations.
Through the program, Nest users participated directly in the creation of these markets by depositing capital, providing liquidity, and interacting with integrations across the ecosystem. Rather than static rewards, the system operated under real capital conditions and dynamic incentive environments, allowing the markets to grow organically as participation increased.
This early phase helped demonstrate that real-world yield can support active onchain markets, while aligning user participation with long-term ecosystem ownership.
What’s Next?
As we move into the next phase of Nest, our focus will continue to be on expanding real-world yield opportunities and strengthening the infrastructure that connects them to DeFi liquidity.
Nest vaults will continue operating as normal, and future incentive campaigns and ecosystem programs will continue to support participation across new integrations and markets.
Season 1 was about proving the market.
What comes next is scaling it.
Nest will continue to serve as the home for real-world yield onchain as the ecosystem evolves.
FAQ
Do I need to register for the airdrop?
- Yes. All eligible users must complete the airdrop registration form to claim their Season 1 allocation. This step is required due to the legal attestation included in the claim process. Wallets that do not register will not be able to claim their tokens.
When will the airdrop registration form open?
- The airdrop pre-registration form will go live in April. Once registration is complete and eligibility is confirmed, the claim portal will open in April, where users can claim their tokens. Airdrop form will be live for users to fillout until claim date
Do I need to withdraw my funds when PNP Season 1 ends?
- No. Users do not need to withdraw funds or take any action when Season 1 ends. Nest vaults will continue operating normally and vault yield continues as usual. Only the PNP incentive accrual associated with Season 1 will stop.
Does the end of PNP mean Nest vault yields are ending?
- No. Nest vaults continue to generate real-world yield as usual. PNP was an additional incentive layer designed to bootstrap early adoption. Ending Season 1 does not impact the underlying vault yield.
What is the difference between PNP and Plume Points (PP)?
- Plume Nest Points (PNP) and Plume Points (PP) are two separate programs designed for different purposes within the ecosystem.
- Plume Nest Points (PNP) PNP was a Nest-specific incentive program designed to bootstrap early participation in real-world yield markets.
- Ending PNP Season 1 does not affect PP rewards. The two programs operate independently and do not merge or offset each other.
Are Plume Points (PP) affected by the end of PNP?
- No. Plume Points (PP) are part of a broader ecosystem rewards program and are completely separate from PNP. Ending PNP Season 1 does not affect PP accrual or future PP campaigns.
When will I receive my tokens?
- Once the claim portal opens, eligible users will be able to claim their PLUME tokens immediately. Tokens will not be streamed or vested through the claim process.
I participated through Pendle YT. What happens to my rewards?
- Pendle Yield Token (YT) holders will continue earning yield and PNP points until the Pendle market reaches maturity on March 28, 2026.
- After the market expires, users will still have ample time to complete the airdrop registration and claim their tokens.
Do Pendle users also need to register for the airdrop?
- Yes. Users who participated through Pendle YT positions must also complete the airdrop registration form in order to claim their Season 1 allocation.
How are PNP rewards calculated?
- PNP rewards were calculated based on:
- Vault deposits
- Duration of participation
- Supported ecosystem activity
- Incentive emissions allocated to specific vaults
Final allocations will be distributed proportionally based on the PNP points each wallet accumulated during Season 1.
What happens after Season 1?
- Season 1 established the foundation for real-world yield markets within Nest. We’re excited for what comes next as Nest continues to grow. Stay tuned!