Pendle TVL reached US$3.47 billion, and the currency price exceeded US$5, hitting a record high! Community: YT is so awesome

Pendle Finance, the revenue-generating derivatives protocol of this website (120BtC.coM), has gained market attention by capturing the hot spots of LSD (liquidity pledged derivatives). According to Defilima data, Pendle’s TVL It has been rising since the beginning of the year and has reached US$3.47 billion as of this writing, with a monthly increase of 470%.

Pendle TVL reached US$3.47 billion

YT token white points become mainstream

After analysis, Pendle divided the assets into The "Principal (PT)" and "Profit (YT)" sections allow traders to trade these two tokens separately. Users can purchase these assets at a price lower than the market price to obtain fixed income, which is similar to purchasing zero-coupon bonds. Additionally, users can speculate on the returns on specific assets by trading these tokens, which represent principal and returns, similar to conducting interest rate swaps.

Recently, with the issuance of new coins by Etherfi, $ETHFI once exceeded 8 US dollars. The market found that operating through the YT (Yield Token) of the Pendle platform can achieve very efficient returns. In addition to getting the Etherfi bonus After earning points, you can also get Eigenlayer points, so the YT token price of the platform shows growth.

Therefore, buyers of YT actually bet on the airdrop value of protocols such as EigenLayer and Ether.fi, which will exceed the cost of ETH invested in purchasing YT. Therefore, assuming that the airdrop situation does not go as expected, investors still have the risk of suffering losses.

$PENDLE breaks through 5 US dollars and hits a record high

Not only that, YT operated with leverage can be converted into mainstream cryptocurrencies such as ETH and USDC at any time, thereby realizing the rapid exit of funds. This feature is relatively convenient for many projects that need to deposit funds to obtain future airdrops under market conditions.

As the market's attention increased, the price of $PENDLE also exceeded 5 US dollars today (31st), reaching a maximum of 5.17 US dollars, setting a record high and rising nearly 20% within a week.

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