DeFi Platform Pendle Nears $1B Total Value Locked Milestone

Pendle, a DeFi platform, has amassed $990 million in total value locked, as per data from DeFilama. It functions as a tool for price discovery by dividing DeFui investments into principal tokens (PTs) and Yield tokens (YTs). 

This division permits the trading of forthcoming yields and principal on the open market, empowering investors to speculate on and secure future yield rates.

Liquid restaking token finance (LRTFi) represents an emerging sector within DeFi, facilitating the liquidity of staked assets by introducing liquid restaking tokens (LRTs). This mechanism empowers users to continue earning rewards while their initial assets remain locked to support network functionalities.

The recent surge in Pendle’s growth has primarily been fueled by the increasing interest in Liquid Restaking Tokens, according to a statement made by RightSide, a developer at Pendle, during an interview on Telegram.

In a recent expansion onto the BNB chain, Pendle has introduced products enabling users to utilize real-world assets (RWA). In a Telegram interview, Pendle described itself as one of the first to delve into LRTfi, providing users with a distinctive opportunity to engage in EigenLayer yield and point speculation.

Also Read: Omega Raises $6 Million to Unlock Bitcoin’s DeFi Potential