6 months ago @binance censored any research about interest derivatives
Today, @BinanceLabs invests in @pendle_fi into its 10x ROI portfolio.
Earn 400% on stables + $PENDLE Catalyst 🧵👇
Despite the market chopiness, @BinanceLabs continues to hunt for investment opportunities and adds @pendle_fi into its portfolio.
Its portfolio is worth over $9B with over 200 projects from over 25 countries.
@DeFi_Made_Here caught this narrative early 6 months ago but his publication got rejected on Binance.
And since then Pendle has established itself as one of the biggest protocols into LSDs and soon on RWAs.
Lets dig in to how Pendle changes the game👇
🔷 About Pendle 🔷
@pendle_fi, a yield management platform, allowing for the tokenization of yield generated from various assets through an exceptional fixed-rate lending market.
The protocol splits yield-bearing assets into two components:
PT - principal token
YT - yield token
By creating a yield market in DeFi, Pendle unlocks the full potential of yield and allows users to execute advanced yield strategies, including
long assets at a discount
fixed yield for low-risk, stable growth
leverage exposure to future yield streams without the need for collateral.
@pendle_fi is known for its deep commitment in the LSDfi space.
With $vePENDLE as a governance token, it emerged a war to accumulate as much vePENDLE possible.
The 2 largest protocols are @Penpiexyz_io and @Equilibriafi further boosts yours LSD yields.
Pendle’s game changes with these updates👇
🔷 Pendle Earn 🔷
@pendle_fi provide fixed yields to users but on-chain.
Similar to the “Earn” product offerings by centralized parties such as:
Bitget Earn
Kucoin Earn
Binance Earn etc.
Users can stake their assets and forget.
Pendle has enabled that through their fixed rate product (PT or Principal Token).
Pendle Earn will be the Cefi gateway to Defi as the strategies are completely transparent and offer stable APY over a certain period of time.
Low risk fixed stable yields of up to 5.2%.
This will be the product that gets retail money towards the $1B TVL goal
Pendle continues to explore integrations that will simplify onboarding.
The recent announcement that OKX Wallet has now integrated Pendle Earn for it
🔷 Superchain Future 🔷
Pendle recently launched @optimismFND and this is a big step to covering all OP Stack L2 and probably we will see @BuildOnBase integration soon
They are already setting sights on a Superchain thesis with the OP stack, which I covered here for what it would mean to users
Current @optimismFND pools have good two-digit APYs for LPers:
Min IL due to single sided staking of your ETH
Yield comes from 4 revenue streams (swap fees, underlying yield, fixed rate, $PENDLE incentives)
Pendle just got a grant approval from @0xMantle!
More developments are brewing around LSDgiven that Mantle is a LSD focused chain, right up Pendle’s alley.
🔷 RWA 🔷
The RWA sector have been growing at light speed, with big protocols making moves into this narrative.
@MakerDAO purchased a huge amount of bonds.
@spark_protocol offers 8% APY, recently lowered to 5% on your DAI with strategies that can bump this to 11% APY.
RWA market size 10x in just 2023 alone.
What would mean for Pendle?👇
Offering RWA products would be strategic here as it is one of the largest addressable markets that remain untapped in DeFi.
And so Pendle now supports
$sDAI by @spark_protocol earning 229%
$fUSDC by @FluxDeFi earning 415%
(while doing up this thread I saw a reduction of 4% APY, meaning more people are taking notice.)
🔷 Conclusion 🔷
Pendle continues to innovate and expand its offerings, cementing its position as a leading protocol for fixed yield and yield generation products in DeFi.
Security at top notch, audited by @AckeeBlockchain @dedaub @WatchPug_ @dingbats_ntbks @cmichelio
With the launch of Pendle Earn, integration with L2s like Optimism, and support for emerging RWA assets, Pendle is poised for further growth and adoption. Its commitment to security is also reassuring, with multiple audits by top firms.
For those looking for simple, fixed yield opportunities in DeFi, Pendle is certainly one to watch. The protocol offers strong yields with low risk through its principal tokens, while still allowing advanced strategies for sophisticated users.
Twitter: https://twitter.com/arndxt_xo/status/1695032028650238269