The live price of Pendle is - per (PENDLE / USD) with a current market cap of $650.90M USD. 24-hour trading volume is - USD. PENDLE to USD price is updated in real-time. Pendle is -% in the last 24 hours with a circulating supply of 162.25M.
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Pendle is a yield trading protocol that separates yield-bearing assets into principal and yield components, allowing users to earn fixed or variable returns.
Pendle is a decentralized protocol that supports the tokenization and trading of DeFi yields. The protocol splits yield-bearing assets into two distinct parts: Principal Tokens (PT) and Yield Tokens (YT), enabling participants to engage in sophisticated yield management strategies. This mechanism supports earning fixed or variable yields through Pendle’s second-generation Automated Market Maker (AMM).
What sets Pendle apart is its yield tokenization approach in DeFi, which allows users to speculate on yield fluctuations. According to the project, the updated AMM design significantly improves capital efficiency compared to its initial version. Pendle also reduces the risk of impermanent loss and offers dual income streams for liquidity providers through PT and YT redemption.
In the Pendle ecosystem, yield-bearing assets are tokenized into standardized yield tokens, which are then split into PT and YT. PT holders have the right to redeem the asset's principal upon maturity and can trade PTs at any time, with their value appreciating toward full maturity. YT holders are entitled to the asset’s yield, which they can claim or trade at any time, allowing them to profit from yield rate fluctuations.
Pendle's technical infrastructure utilizes an AMM model that combines pseudo-AMM mechanics with flash swaps. This design not only enhances capital efficiency but also adjusts the AMM curve to reflect the natural price growth of PTs over time, thereby minimizing impermanent loss.
Pendle's core applications revolve around yield management and trading in the DeFi space. The platform enables the separation of yield-bearing assets into fixed and variable yields, accommodating diverse investment strategies. Pendle also helps boost liquidity for yield-bearing protocols.
The PENDLE token is a vital component of the Pendle ecosystem, serving as both a utility and governance token. It helps fuel liquidity, allows holders to participate in protocol governance, and enhances yield trading and management on the platform.
Pendle was founded by CEO TN Lee and CTO Vu Nguyen. TN Lee was formerly Head of Business Development at Kyber Network, while Vu Nguyen was the former Lead Smart Contract Developer at Digix and a three-time gold medalist in the Mathematics Olympiad. These achievements and experiences were brought into the creation of Pendle, which was founded in October 2020.
The maximum supply of PENDLE tokens is capped at 258,446,029. As of the time of writing, the circulating supply stands at 238,185,588 tokens.
The PENDLE token forms the backbone of the Pendle ecosystem. It serves both as a reward for liquidity provision and as a governance token through its vePENDLE variant. Holders who lock their PENDLE to obtain vePENDLE can participate in voting on reward distribution and accumulate fees from trading and yield-generating activities on the platform. This dual functionality incentivizes participation and liquidity while ensuring that the community actively contributes to protocol development and governance, enhancing sustainability and growth.
Pendle provides a platform for tokenizing and trading DeFi yield. It offers the ability to split yield-bearing assets into Principal Tokens (PT) and Yield Tokens (YT). This split enables a wide range of yield management strategies, catering to investors seeking both stable and variable returns. Through Pendle, participants can tailor their yield exposure—either locking in future yield or speculating on yield fluctuations—bringing a new approach to DeFi investing.
Pendle operates on the Ethereum blockchain, which uses a Proof-of-Stake (PoS) consensus mechanism. This ensures the security and decentralization of network consensus and transaction validation. By leveraging Ethereum’s PoS model, Pendle benefits from enhanced security, reduced environmental impact, and improved scalability—providing a robust and efficient platform for yield trading and management.
Pendle stands out in the DeFi space through its yield tokenization approach, which enables assets to be split into Principal Tokens (PT) and Yield Tokens (YT) to accommodate customized investment strategies. The platform features an enhanced automated market maker (AMM) system that increases capital efficiency and reduces slippage. It is also designed to mitigate impermanent loss, offering a practical solution for yield management. These integrated features make Pendle a widely recognized player in the DeFi yield trading sector, offering a detailed and effective alternative to traditional yield optimization methods.
The Pendle to other currencies exchange rate?
