{
    "id": "trail.spot.swap_and_buy_pt",
    "schemaVersion": "0.1.0",
    "name": "Spot: swap to underlying, buy Pendle PT",
    "summary": "Reusable spot-leg primitive: swap USDC (or any stable) to underlying asset via DEX aggregator, then buy a Pendle PT for fixed yield exposure. Composable inside delta-neutral trails.",
    "family": "syusd",
    "chains": ["ethereum", "base", "arbitrum"],
    "params": [
        { "name": "fromAsset", "type": "address", "required": true, "description": "Funding asset (e.g. USDC)." },
        { "name": "underlyingAsset", "type": "address", "required": true, "description": "Asset the PT is denominated in (e.g. USDe, stcUSD)." },
        { "name": "ptAsset", "type": "address", "required": true, "description": "Pendle PT token address." },
        { "name": "pendleMarket", "type": "address", "required": true, "description": "Pendle market address for the PT." },
        { "name": "amountIn", "type": "uint256", "required": true, "description": "Amount of fromAsset to deploy (base units)." }
    ],
    "execution": {
        "mode": "atomic",
        "steps": [
            {
                "kind": "leaf",
                "description": "Approve DEX adapter to spend fromAsset.",
                "protocol": "magpie",
                "action": "approve",
                "args": { "asset": "$fromAsset" }
            },
            {
                "kind": "leaf",
                "id": "swap",
                "description": "Swap fromAsset → underlyingAsset via DEX aggregator.",
                "protocol": "magpie",
                "action": "swap_or_mint",
                "args": { "in": "$fromAsset", "out": "$underlyingAsset", "amountIn": "$amountIn" }
            },
            {
                "kind": "leaf",
                "description": "Approve Pendle router to pull underlying.",
                "protocol": "erc20",
                "action": "approve",
                "args": { "asset": "$underlyingAsset", "spender": "pendleRouter" }
            },
            {
                "kind": "leaf",
                "id": "buy",
                "description": "Buy PT on the Pendle market.",
                "protocol": "pendle",
                "action": "buy_pt",
                "args": { "market": "$pendleMarket", "amountUnderlying": "$swap.amountOut", "receiver": "$vault" }
            }
        ]
    },
    "preconditions": [
        "Vault has approve + swap + pendle.buy_pt leaves enabled for the involved assets.",
        "Pendle market hasn't matured (otherwise buy_pt reverts)."
    ],
    "risks": [
        "DEX slippage during swap reduces the PT amount.",
        "Pendle implied APY can move against the entry — locked until maturity unless the strategist sells PT back to YT-style position.",
        "If the PT is illiquid, exit liquidity at maturity is bottlenecked."
    ],
    "llm_doc": "Composable spot-leg primitive. Use this trail directly when the user just wants 'swap into PT and hold' for fixed-yield exposure. Composed inside trail.dn.pendle_hyperliquid as the spot side of a delta-neutral position. Atomic mode with no flashloan bracket — all 4 leaves run linearly inside one manage() call."
}