Can someone ELI5/shill me Pendle? I see three options to use eETH: YT, PT, and somewhere in between (LP). I'm not sure I understand the pros/cons of each.

This is so perfectly ELI5, I wish Pendle explained it that way on their site. Thank you 🙏

PT - Receive Fixed Yield
YT - Pay Fixed Yield, Receive Variable Yield
LP - Exposure PT & YT and earn trading fees + incentives

If you think the actual yield > fixed yield buy YT. 

If you think actual yield < fixed yield buy PT. 

If you think actual yield ~= fixed yield buy LP*

*other factors to consider

Its main pmf is hedging airdrops for larger farmers that want to lock in price pre launch, acting almost like predication markets

Start here: https://tokenomicsexplained.com/rate-speculation-platforms

good explainer wrt to LRTs from the pendle intern back on the tweeter site

good explainer wrt to LRTs from the pendle intern back on the tweeter site https://twitter.com/PendleIntern/status/1753288247990767795