Pendle Research Hub | PENDLE information, history and analysis
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.
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.
According to BeInCrypto, on October 23, Pendle large holders’ netflow was 165,260.
On October 25, the figure has increased to 1.33 million, meaning whales bought about 1.16 million PENDLE tokens, valued at $5.42 million.
According to Lookonchain, a fresh wallet withdrew 1.06 million PENDLE ($5.08 million) from Binance 14 hour ago.
According to Bloomberg, Pendle Finance has seen a surge in trading activity since it began integrating loyalty points programs in January.
Currently, around $6.4 billion in assets are staked to the protocol, which has essentially become a secondary market for trading crypto points and yields.
Data from DeFiLlama reveals that Pendle’s total value locked (TVL) has surpassed $6.6 billion, setting a new historical high.
The current TVL stands at $6.699 billion, indicating a significant growth in the platform’s popularity and usage.
The total value of crypto held on Pendle has reached $4 billion, as the yield trading platform continues to attract attention.
According to the project’s analytics dashboard, trading across the platform has reached $10 billion, with trading volume surpassing $400 million in a single day on April 2.
Pendle surpassed $1 billion in total value locked
Decentralized finance (DeFi) platform Pendle has reached $1.022 billion in total value locked (TVL).
Recently, Pendle expanded to the BNB chain and has begun offering products that allow users to leverage real-world assets (RWA).
Pendle received 2 million ARB funding from Arbitrum
The funding from Arbitrum could become a new growth driver for Pendle after receiving investment from Binance Labs and the latest launch of a new product that leverages real-world assets (RWA).
Pendle Finance introduces Real-World assets-based product
Pendle Finance is launching a new product that leverages real-world assets (RWA) to generate gains from traditional sectors.
Pendle will use MakerDAO’s Boosted Dai Savings (sDAI) and Flux Finance’s fUSDC stablecoin, both of which yield from traditional finance sectors, for the RWA product.
Token Spotlight: Pendle Finance (PENDLE)
Pendle is a decentralized yield-trading protocol allowing users to profit from staking and derivatives trading.
With Pendle, users can always maximize their yields: increase the level of yield risk when markets are rising and hedge in falling markets.
Details: https://bit.ly/3KhUpCk