Pendle launches AAA CLO yield trading with deJAAA token

The DeFi yield protocol now lets users split and trade tokenized exposure to Janus Henderson's AAA-rated CLO fund Pendle has opened a market for deJAAA, a token that wraps exposure to Janus Henderson’s AAA-rated collateralized loan obligation strategy. The DeFi yield-trading protocol now lets users carve that exposure into separate principal and yield pieces and trade them on-chain. The new market went live on October 21, 2026. It centers on deJAAA, a wrapper for the Janus Henderson Anemoy AAA CLO Fund, better known by its ticker, JAAA. A CLO is a bundle of corporate loans, sliced into layers that get paid in order of seniority. The AAA layer sits at the front of the line, so it gets paid first and carries the least risk. JAAA holds that senior slice.