Pendle has almost reached $1 billion in total value locked, with most of that value locked in within the last six months.
This surge in interest comes as the market looks for more opportunities for liquid restaking tokens.
Pendle recently added support for the BNB chain and real-world assets (RWA)
Pendle, a decentralized finance (DeFi) platform that offers yields in the form of tradable digital tokens, has reached $990 million in total value locked (TVL), according to DeFiLlama data.
Pendle operates as a price discovery tool by separating DeFi investments into principal tokens (PTs) and yield tokens (YTs), allowing for the trading of future yields and principal on the open market, thus enabling investors to speculate on and lock in future yield rates.
“The influx of interest in [Liquid Restaking Tokens] has been the main driver behind Pendle’s recent growth,” Pendle developer RightSide said in an interview on Telegram.
Liquid restaking token finance (LRTFi) is a new DeFi field that allows for the liquidity of staked assets through the issuance of liquid restaking tokens (LRTs), enabling users to earn rewards while their original assets are locked up for securing network services.
“Pendle’s one of the earliest pioneers of LRTfi, offering a unique proposition for users to speculate on EigenLayer yields and points,” Pendle continued in a Telegram interview.
Recently, Pendle expanded to the BNB chain and has begun offering products that allow users to leverage real-world assets (RWA).
Edited by Parikshit Mishra.