# Strategy Types

Notional Exponent offers three different strategy types: Staking, PendlePT, and Liquidity. 

#### **Staking** 

* Staking vaults mint and hold staked tokens like sUSDe or weETH. 
* Smart withdrawal can be initiated at any time for vaults that support it.

#### **PendlePT**

* PendlePT vaults buy and hold PTs like sUSDe 27 NOV 2025 PTs.
* Smart withdrawal is only available after the PT expires.
* Smart withdrawal applies to the PT's SY token. Here is an example flow for sUSDe 27 NOV 2025 PTs:

<figure><img src="https://2700472736-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MkcxvvIc3ISTwTw8FPt%2Fuploads%2FSlqXY8yjAh8QOARgjDC5%2Fimage.png?alt=media&#x26;token=f6d23739-0f09-4b9a-9124-c80faa27bc58" alt=""><figcaption></figcaption></figure>

#### Liquidity

* Liquidity vaults mint and hold LP tokens issued by DEXes like Curve. Some vaults stake LP tokens on yield boosters like Convex to boost incentive yields.
* Liquidity vaults usually earn incentives. Incentives are streamed directly to users and are claimable at any time.
* Smart withdrawal can be initiated at any time for vaults that support it.
* Smart withdrawal applies to the tokens in the liquidity pool. Here is an example flow for sUSDe / sDAI Curve LP tokens:

<figure><img src="https://2700472736-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MkcxvvIc3ISTwTw8FPt%2Fuploads%2FbYnW3GmwXUddG9zXdebD%2Fimage.png?alt=media&#x26;token=0002c62c-6dfd-4d4b-9d56-c5264ea8d978" alt=""><figcaption></figcaption></figure>