What You Need to Know About Pendle's BNB Chain Expansion
Thena x Pendle Collab | Optimism Ecosystem
GM, this is your Daily Bolt briefing.
In this edition, we’ll be providing you with the latest in DeFi, including notes on Thena, and Pendle’s expansion to BNB Chain. Keep reading to also gain some insight into the Optimism ecosystem, the projects building on the L2, and the impact of the OP airdrop.
Stay alert, stay informed ⬇️
Bear market is when you learn... Bull market is when you prosper
Want to know the ins and outs of crypto from a true insider?
Launchy is a builder-investor focused newsletter where they cover the latest web3 products, strategies, and trends.
They also provide their personal takes as a builder/investor on current news, regulations, deals - all in just a 5 minute read.
Join 7000+ leading builders and investors reading Launchy
1/ BNB Chain – Introduction to Pendle, Features and Future Plans
Preview: K, Chandler, Thesus, and TN introduces Pendle and Thena, discuss their features, future plans, and potential integrations. Click here to listen to the full episode (57 mins).
Read our Note (6 mins) and save 51 mins.
Here are some key takeaways:
Pendle is a permissionless DeFi yield-trading protocol, currently built on the Ethereum blockchain, where users can execute various yield management strategies.
TN says that Pendle is a protocol that tokenizes and enables the trading of DeFi yields. It separates the yield from the principal of yield-generating tokens, creating two separate tradable tokens: the principle token (PT) and the yield token (YT). Pendle enables tokenization and trading of fixed-rate yields for various use cases such as hedging and speculation.
He adds that the PT represents the ownership of the underlying asset, while the YT represents the future yield that the underlying asset can generate.
TN shares that Pendle plans to expand to BNB Chain. By expanding to BNB, Pendle aims to bring more opportunities for yield trading to the BNB space. He adds that this is part of Pendle's broader strategy to expand its reach and provide more yield opportunities to users across different blockchains.
TN also says that Pendle has a very active month planned on the BNB Chain in July. To stay updated with Pendle's launches and announcements, TN recommends that users follow Pendle's Twitter account. He says that they should have something to announce every week, indicating a high level of activity and development from the Pendle team.
Thena is the native liquidity layer on BNB Chain.
Theseus says that Thena operates on ve(3,3) model offering flexible liquidity solutions for protocols to scale their liquidity.
He adds that users earn governance power by locking their tokens for a certain period, allowing them to vote for pools and receive corresponding shares of fees generated by those pools.
He says that Thena also offers a platform for protocols to deposit token incentives (bribes) to incentivize holders to vote for their pools, reducing costs and acting as a marketing platform.
Theseus says that the collaboration with Pendle is aimed at providing liquidity and yield trading opportunities for Thena’s users. This partnership is part of Thena’s efforts to integrate with other DeFi protocols and provide more financial opportunities to its users.
2/ Tide Protocol – Subli’s Journey in Crypto, Optimism and Marketing
Preview: Subli discusses his journey in crypto, being an Optimism ambassador, his thoughts on marketing, and developments from Optimism Click here to listen to the full episode (63 mins).
Read our Note (6 mins) and save 57 mins.
Here are some key takeaways:
Subli says that the retail community provides the first feedback on a product. They test and invest in the product first, making them a crucial part of the development process.
He says that the retail community is especially important in the NFT ecosystem because the community's engagement and interaction with NFTs directly contribute to their value and success.
Subli says that the airdrop strategy of Optimism and grants is beneficial for retail communities. He believes these strategies increase visibility, marketing, and user base, leading to the retention of users and attraction of ambassadors.
Subli says that airdrops need to be implemented smartly to retain real users and prevent abuse. He believes that airdrops should not just attract users but should also encourage meaningful engagement and contribution to the project.
Subli believes that Tide Protocol is a useful tool for increasing visibility and user engagement.
He says that the Tide Protocol has mechanisms to prevent attacks and narrow down eligible people who can attend quests to ensure that only genuine users who are genuinely interested in the content can participate.
Subli says that the OP Stack is a framework that anyone can use to create a layer-2 of Ethereum.
He clarifies that building on the OP Stack doesn't mean that a project is part of the Optimism Superchain.
He says that any developments made on the OP Stack by a project like opBNB could potentially benefit the Optimism Superchain.
Subli says that there are several projects that are building on Optimism, including Base and Worldcoin.
Bear market is when you learn... Bull market is when you prosper
Want to know the ins and outs of crypto from a true insider?
Launchy is a builder-investor focused newsletter where they cover the latest web3 products, strategies, and trends.
They also provide their personal takes as a builder/investor on current news, regulations, deals - all in just a 5 minute read.
Join 7000+ leading builders and investors reading Launchy
If you read these 2 Notes on Revelo Intel you would have saved: 1 hour and 48 minutes!