In this edition, we’re keeping you up to date on Pendle. The projected recently hit a new ATH in TVL, currently sitting at ~$163M.
Keep reading to gain some intel from our most recent Pendle Snapshot report, as well as some insight into the project’s upcoming plans.
Stay alert, stay informed ⬇
Project Snapshot: Sep. 1st to Sep. 30th
Our Snapshot covers the key metrics of the protocol, the DeFi yield sector, $PENDLE price, trading metrics, and other events.
Key Performance Highlights:
The increase in Pendle's TVL increase on Ethereum (24.3%) was most likely due to the new vaults released for OETH, sDAI, ETHx, and eUSD.
Competitor Dominance:
Pendle ranks 3rd when it comes to % of market share in the Yield sector, behind Aura and Convex.
$PENDLE Price:
The project’s native token opened the period at $0.68 and closed at $0.729, a 7.2% increase.
$PENDLE Performance vs Competitors:
The $PENDLE token managed to reverse the previous cycle’s downtrend and had a positive price action this cycle. Price volatility was in line with the majority of competitors, and performed similarly with $CVX, a major protocol in the yield sector.
Integration with Teller
Teller is a project that allows any asset to be used as collateral, including yield-bearing tokens and LP position tokens.
These tokens can be borrowed against, providing liquidity to take advantage of other opportunities
Teller will integrate the Pendle tokens, PT GLP, and $T gDAI tokens on Teller’s Arbitrum platform.
Future Plans for Pendle
Pendle was built with a vision to be permissionless from its inception.
While the tools and documentation for anyone to create a yield trading market from their yield-bearing asset aren’t fully in place yet, the long-term vision is to enable this.
There are challenges and complexities of achieving this vision, especially given the lack of standardization among various yield-generating assets.
The goal is to ensure that the introduction of such features doesn’t introduce additional risks to users or the protocol.
The Pendle team envisions a future where new protocols can leverage Pendle’s yield tokenization feature for their own projects, suggesting a symbiotic relationship between Pendle and other DeFi projects.
There is a possibility of listing more exotic assets on Pendle in the future.
Pendle is working on multiple fronts of product development to enhance user experience.
There are upcoming features like leaderboards and trading campaigns.
The team has hinted at the launch of additional products by the end of the year without revealing specific details.
They have a vision of positioning Pendle as the “Uniswap of yields”.
The team has also emphasized efforts on the centralized finance front, including partnerships with centralized exchanges and wallets to distribute Pendle products.
Fixed rates are very important in crypto and DeFi, and Pendle can help to facilitate this demand.
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