What is Pendle
What is Pendle
History
Pendle was launched in April 2021 by a team led by Yaoqi Jia, a prominent figure in the blockchain space who previously worked with Zilliqa and Kyber Network. The main purpose behind creating Pendle was to provide a platform where users could tokenize and trade their future yield, enabling more sophisticated yield strategies in the decentralized finance (DeFi) ecosystem. This concept aimed to unlock more capital efficiency for users holding yield-generating assets.
An interesting aspect of Pendle’s history is its focus on innovating yield trading, which was relatively unexplored before its inception. The platform gained attention for its unique approach to separating and trading future yield, setting it apart from other DeFi projects at the time.
Creators and Developers
Pendle was developed by a team led by Yaoqi Jia, who is well-known in the blockchain community. His previous roles include working as the Chief Technology Officer (CTO) at Zilliqa and a core member at Kyber Network. The development team is composed of experienced blockchain developers and financial experts, aiming to bridge the gap between traditional finance and decentralized finance.
Technology
Pendle operates on the Ethereum blockchain, leveraging smart contracts to enable the tokenization and trading of future yield. The core technology involves the issuance of two types of tokens: ownership tokens and yield tokens. Ownership tokens represent the underlying asset, while yield tokens represent the right to receive yield from that asset. This separation allows users to trade future yield independently of the principal asset, which is a unique feature in the DeFi space.
The protocol is designed to be modular, allowing for integration with various yield-generating assets across different DeFi platforms. Pendle also uses an automated market maker (AMM) specifically tailored for the trading of yield tokens, ensuring liquidity and efficient pricing.
Mining and Issuance
Pendle's native token, PENDLE, is distributed through liquidity mining programs and as incentives for users who participate in the platform. The token can be staked to earn rewards and also provides governance rights, allowing holders to vote on protocol upgrades and changes. The protocol uses a fixed supply model, with a total supply of 231,725,781 PENDLE tokens.
In addition to staking, users can earn PENDLE tokens by providing liquidity to Pendle's AMM pools, further incentivizing the growth of the ecosystem.
Networks and Support
Pendle is primarily built on Ethereum, but it also supports other networks like Arbitrum and BNB Chain through cross-chain bridges. These integrations allow users to interact with Pendle's services on multiple blockchains, enhancing its accessibility and usability. The project is actively exploring additional cross-chain support to expand its reach in the DeFi ecosystem.
Supported Networks
Tangem Wallet supports Pendle on these networks
- Ethereum
- BNB Smart Chain
- Avalanche C-Chain
- Optimism
- Arbitrum
Pendle official links
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Pendle FAQ
- Owning cryptocurrency can be important for several reasons: it provides a decentralized way to store and transfer value, offers potential for investment growth, enables participation in emerging financial technologies, and can be used for secure and private transactions.
- A cryptocurrency wallet is a tool or device that allows you to store, manage, and use your cryptocurrency. It keeps your private keys secure and enables you to interact with various blockchain networks, including Bitcoin and Ethereum.
- When choosing a cryptocurrency wallet, consider factors such as security, ease of use, and cryptocurrencies supported. Also determine whether you prefer a hardware or software wallets. Research reviews and compare features to find the best option for your needs.
- Pendle stands out by allowing users to tokenize and trade future yields. Unlike other protocols that focus solely on lending or borrowing, Pendle creates a unique marketplace for yield speculation, offering users the ability to manage their risk or profit from yield fluctuations.
- Tokenized future yields on Pendle can be used for various purposes, including hedging against the risk of yield drops, speculating on future yield changes, or even unlocking liquidity from yield-generating assets without selling the underlying asset.
- The value of tokenized future yields on Pendle can be influenced by factors such as changes in interest rates, the performance of underlying yield-generating assets, and broader market conditions. Speculation and demand for specific yield assets can also drive the value of these tokens.
Why choose Pendle wallet with Tangem.
Private. No registration and KYC required to use the app. We don't track your data.
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