What this is
A DEX pool quotes prices from its own inventory. The bigger your order relative to pool depth, the further the price moves against you while your trade executes — that loss is slippage. It exists in calm markets too; it just gets much worse when everyone exits at once.
What it means for your yield
A $10K exit may cost a few tenths of a percent on a thin pool — weeks of yield, paid at the door. Above a pool’s comfortable size the percentage climbs quickly, which is why large exits should always be priced against waiting out the official redemption.
Where it appears on Pennyworth
The exit box on every detail page quotes an indicative slippage for a reference size on the product’s main pool, alongside the official redemption path.