Just one month after the launch, based on Dune, the Pendle protocol has included a complete worth of $ 58 million (TVL) of $ 58 million. This isn’t solely a big quantity on paper, it additionally displays a number of confidence and pleasure within the Defi group. There may be an uncommon technique behind this wave. Pendle doesn’t depend on only one strategy, however combines a number of yield methods akin to Principal Token (PT), Yield Token (YT) and Liquuidity Supplier (LP).
With this mixture, customers can use their belongings in a extra versatile manner with out being sure by conventional enlargement strategies, which might generally appear boring. On Sonic, Pendle now helps a wide range of derived belongings, together with liquid reinforcement sticks (LST) akin to STS, WOS and Wans.
Pendle additionally helps algorithmic stablecoin belongings of two completely different protocols, specifically AUSDC (from Aave) and WSTKSCUSD (from Rings Protocol). Having these stablecoins provides the steadiness that customers should safely play a market that may rise and fall as a curler coaster. Assist for BTC and ETH belongings has additionally been added, together with Solvbtc.bbn and WSTKSCETH, which additional expanded the provision and attraction of the platform.
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