1 day ago
Pendle’s full worth locked (TVL) has surged to a grounds $8.27 billion, portion its autochthonal token PENDLE climbed 45% implicit the past week to $5.6 connected the backmost of the protocol’s new yield-trading platform.
With bitcoin backing rates averaging astir 10% annualized this week and astir $80 cardinal successful unfastened interest, according to Dune data, much than $8 cardinal changes hands yearly betwixt longs and shorts.
Boros packages those yields into tradable on-chain assets called Yield Units (YUs), letting traders spell agelong oregon abbreviated connected the rates themselves.
Boros tin beryllium utilized for galore beforehand strategies, including hedge floating backing payments into fixed rates, oregon fastener successful precocious yields during volatile periods.
In its archetypal 2 days, Boros attracted deposits of implicit 283 WETH (around $1.1 million) and 6.4 WBTC (about $750,000) into its vaults, data shows.
Activity connected Pendle’s Arbitrum deployment has spiked alongside the launch, with progressive addresses reaching 1,428, good supra the monthly average, and some buyers and sellers multiplying connected decentralized exchanges according to information from TheTie.
While Boros presently supports BTC and ETH backing rates, plans are to grow to different floating yields specified arsenic staking rewards and tokenized Treasury bills.
Pendle’s show and full worth locked besides came connected the backmost of the Hyperliquid ecosystem. The steadfast integrated with Hyperliquid precocious past month. Since then, Kinetiq’s kHYPE, the largest liquid staking token connected Hyperliquid’s HyperEVM, has attracted $221 cardinal successful full worth locked.
PENDLE token, implicit the past week, has importantly outperformed the wider cryptocurrency market, arsenic measured by the CoinDesk 20 (CD20) index, which roseate 13.15% implicit the period.
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