Pendle Finance: The Rise of a Leading DeFi Yield Protocol
What Is Driving PENDLE's Growth?
Pendle Finance, an Ethereum-based yield trading protocol, offers users high yields of up to 47% on assets through its unique Principal Tokens and Yield Tokens approach.
Recent Activity Surge
- Heightened Ethereum liquid restaking
- Airdrops from DeFi protocols like Ether.Fi
Users deposit their Ether.Fi restaking token, eETH, in anticipation of EigenLayer's airdrop, contributing to the significant surge in Pendle's activity.
Notable Figures
- TVL surpassing $4 billion
- 1,500% increase in TVL since the year's start
Most trading activities occur on Ethereum, with traction growing on Layer-2 networks like Arbitrum and Mantle.
Pendle Finance's remarkable growth led to BitMEX's co-founder, Arthur Hayes, hailing it as 'the future of DeFi'.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.