BTSE will add Pendle (PENDLE) onto its platform on Wednesday, July 5, 2023, adding to its users’ selection of quality digital assets. Additionally, PENDLE will be listed on BTSE’s wider ecosystem of 10+ white label crypto exchanges, enabling better liquidity and pricing. Users will be able to trade PENDLE via the PENDLE/USDT and PENDLE/USDC trading pairs.
Key Dates
1. Deposits enabled: 8:00 AM (UTC) on July 5, 2023 (supported network: ERC-20)
2. Trading enabled: 8:00 AM (UTC) on July 5, 2023
3. Withdrawals enabled: 8:00 AM (UTC) on July 6, 2023
Pendle (PENDLE): Unlocking the Full Potential of Yield in DeFi
Market Cap: $176,177,180 (as of July 4, 2023)
Circulating Supply: 203,543,672 PENDLE (as of July 4, 2023)
Total Supply: 231,725,335 PENDLE
Pendle is a yield-trading protocol that operates permissionlessly and allows users to execute a range of yield-management strategies. Its fundamental aim is to give users complete control over their yields, revolutionizing how we interact with yield-bearing assets. Pendle achieves this through three primary components: Yield Tokenization, Pendle Automated Market Maker (AMM), and vePENDLE.
Yield Tokenization
Pendle’s yield tokenization process involves wrapping yield-bearing tokens into what they refer to as Standardized Yield tokens (SY). These tokens are compatible versions of the underlying yield-bearing tokens. For instance, stETH would transform into SY-stETH.
The wrapped tokens are then divided into Principal Tokens (PT) and Yield Tokens (YT). This process is known as yield-tokenization, creating a unique market where the yield component is tokenized as separate assets.
Pendle Automated Market Maker (AMM)
The Pendle AMM is the core engine of the protocol, facilitating the trade of PT and YT. You can use the AMM to trade these tokens without requiring a comprehensive understanding of how the AMM operates.
vePENDLE
vePENDLE is the next step in Pendle’s mission to bring the traditional finance (TradFi) interest derivative market, valued at over $400T, into DeFi. This ambitious goal allows users to execute advanced yield strategies, opening a world of possibilities for yield optimization.
What Traders See in PENDLE
The uniqueness of Pendle lies in its innovative approach to yield management. With Pendle, you can:
1. Enjoy fixed yield: Earn fixed yield on assets like stETH.
2. Go long on yield: Bet on stETH yield increasing by purchasing more yield.
3. Earn more yield without added risk: Provide liquidity with your stETH and earn yield.
4. Implement diverse strategies: Execute a combination of the above strategies and more. You can explore this further in Pendle’s Yield-Trading Handbook.
Thus far, PENDLE has been listed on DEXs such as Uniswap, SushiSwap, and Balancer and CEXs such as Binance, Kucoin, and Gate.io. Now, we at BTSE are thrilled to announce the upcoming listing of PENDLE on our platform! Adding PENDLE to our offering underscores our commitment to providing our users with access to innovative DeFi protocols and facilitating diverse trading opportunities.
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Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at feedback@btse.com or on Twitter @BTSE_Official.
Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.
