According to DeFiLlama statistics, Pendle, a decentralised finance (DeFi) platform that provides dividends in the form of transferable digital tokens, has $990 million in total value locked (TVL).
By dividing DeFi investments into principal tokens (PTs) and yield tokens (YTs), Pendle functions as a price discovery tool. This enables investors to speculate on and lock in future yield rates by allowing the trading of principal and future yields on the open market.
In a Telegram interview, Pendle creator RightSide stated, “The primary driver behind Pendle’s recent growth has been the influx of interest in [Liquid Restaking Tokens].”
A new DeFi area called liquid restaking token finance (LRTFi) enables users to earn incentives while their initial assets are locked up for the purpose of safeguarding network services. It does this by allowing the liquidity of staked assets through the issue of liquid restaking tokens (LRTs).
In a Telegram interview, Pendle said, “Pendle’s one of the early pioneers of LRTfi, offering a unique proposition for users to speculate on EigenLayer yields and points.”
Pendle has started to offer products that let customers utilise real-world assets (RWA) after recently expanding to the BNB chain.