Starting from 10:00 UTC on July 3rd, we officially list Pendle (PENDLE) on the ONUS application. Soon after PENDLE is added, users can perform the following features:
- Off-chain transactions: Send and receive PENDLE with other users in the ONUS network.
- Trade: Swap from VNDC or USDT to PENDLE and vice versa.
About Pendle
Pendle is a permissionless yield-trading protocol where users can execute various yield-management strategies. With the creation of a novel AMM that supports assets with time decay, Pendle gives users more control over future yield by providing optionality and opportunities for its utilization.
Protocol Mechanics:
- Yield Tokenization
First, Pendle wrap yield-bearing tokens into SY(standardized yield tokens), which is a wrapped version of the underlying yield-bearing token that is compatible with the Pendle AMM (e.g. stETH → SY-stETH). SY is then split into its principal and yield components, PT (principal token) and YT (yield token) respectively, this process is termed as yield-tokenization, where the yield is tokenized into a separate token.
- Pendle AMM
Both PT and YT can be traded via Pendle’s AMM. By providing liquidity to Pendle AMM, users can earn profit and receive other incentives.
- vePENDLE
As a yield derivative protocol, we are bringing the TradFi interest derivative market (worth over $400T in notional value) into DeFi, making it accessible to all.
By creating a yield market in DeFi, Pendle unlocks the full potential of yield, enabling users to execute advanced yield strategies.
Website: https://www.pendle.finance/.
What is PENDLE?
PENDLE is a native coin of the Pendle ecosystem, operating on Ethereum according to 20 standard, and can be used to:
- Users stake PENDLE to receive vePENDLE and receive rewards.
- vePENDLE holders decide the flow of incentives to various pools, rewarding LPs in the pool they vote for. Voting for a pool makes vePENDLE owners eligible to receive 80% of the accrued swap fees.
Specifications
- Name: Pendle
- Symbol: PENDLE
- Platform: Ethereum
- Standard: ERC20
- Type: Utility, Governance
- Smart Contract Address: 0x808507121b80c02388fad14726482e061b8da827
