The DeFi Pendulum and the $1 billion Total Value Locked horizon
The DeFi Pendle platform is on the verge of reaching $1 billion in Total Value Locked (TVL), driven by a surge of interest in the first months of 2024. Pendle is a decentralized finance (DeFi) platform that offers returns in the form of tradable digital tokens.
Pendle as a pioneer in Liquid Restaking Token Finance (LRTFi) DeFi
Pendle has gained significant attention for its work in Liquid Restaking Token Finance (LRTFi), a new sector of DeFi that allows liquidity of staked assets through the issuance of liquid restaking tokens (LRT). This enables users to earn rewards while their original assets remain locked to ensure network services.
The addition of “innovation zone” on Binance and the launch of the Real-World Asset (RWA) based product
In July 2023, Pendle’s token (PENDLE) was added to Binance’s “innovation zone” program, leading to a price fluctuation. In August 2023, Pendle announced the launch of its first product based on real-world assets (RWA), combining MakerDAO’s Boosted Dai Savings and Flux Finance’s stablecoin fUSDC. This offering allows users to earn returns from traditional financial sectors in addition to tradable tokens.
Currently, PENDLE is valued at $2.90, with a significant increase of +132% in the last month and +3080% in the last year.
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