According to CoinDesk, decentralized finance (DeFi) platform Pendle has reached $990 million in total value locked (TVL), with most of that value locked in within the last six months. This surge in interest comes as the market looks for more opportunities for liquid restaking tokens. Pendle recently added support for the BNB chain and real-world assets (RWA).
Pendle operates as a price discovery tool by separating DeFi investments into principal tokens (PTs) and yield tokens (YTs), allowing for the trading of future yields and principal on the open market, thus enabling investors to speculate on and lock in future yield rates. Pendle developer RightSide said in an interview on Telegram that the influx of interest in Liquid Restaking Tokens (LRTs) has been the main driver behind Pendle's recent growth.
Liquid restaking token finance (LRTFi) is a new DeFi field that allows for the liquidity of staked assets through the issuance of LRTs, enabling users to earn rewards while their original assets are locked up for securing network services. Pendle is one of the earliest pioneers of LRTFi, offering a unique proposition for users to speculate on EigenLayer yields and points, according to a Telegram interview.
Recently, Pendle expanded to the BNB chain and has begun offering products that allow users to leverage real-world assets (RWA).
