Pendle is close to 4 billion USD TVL, becoming the largest yield farming protocol

Pendle Finance's Total Value Lock (TVL) has increased more than 60% in just the past month, reaching a record volume of 450 million USD on April 3. Pendle is close to 4 billion USD TVL, becoming the largest yield farming protocol

Driven by the Ethena decentralized stablecoin project's Sats Campaign airdrop, one of the campaign's integration partners, Pendle, quickly benefited, with activity on the protocol reaching $3.9 billion TVL, increased by 40% in the past two weeks, according to DefiLlama.

After the success of season 1, traders are flocking to join the Sats Campaign with the expectation of receiving ENA. According to DeFi investor Thor Hartvigsen, every $10,000 invested in USDe Yield Tokens (YT) on Pendle yields more than $80,000 worth of ENA tokens, suggesting that these “fat” returns are the main driver of activity. on Pendle became lively.

Recently, Pendle posted to celebrate the capitalization of Ethena's USDe pool reaching 400 million USD.
In addition to Pendle, Ethena's season 2 airdrop also includes participation from other DeFi platforms such as MakerDAO, Morpho, Mantle, and the EigenLayer point system. Criteria for each project readers can refer to this article.

The protocol's PENDLE token has also exploded, recording a 5-fold increase since the beginning of this year, currently fluctuating around 5 USD.

Pendle Finance is a DeFi protocol developed on Ethereum that allows users to tokenize and trade future asset returns through an AMM mechanism. With Pendle Finance, users can flexibly apply many different strategies to optimize returns from their assets.

Pendle Finance receives a lot of attention because of its unique profit-seeking model and is backed by many large investment funds including Binance Labs. From the new developments in the past few days, Pendle Finance has established itself as the largest yield farming protocol in DeFi.
The funding from Arbitrum could become a new growth driver for Pendle after receiving investment from Binance Labs and the latest launch of a product based on RWA.
Arbitrum Short-Term Incentives Program (STIP) is a program organized by Arbitrum DAO with the aim of stimulating liquidity across the entire ecosystem. As reported by Coin68, the 50 million ARB budget will be awarded to 29 projects that reach the full 71.51 million ARB Quorum and receive more than 50% of votes in favor of the proposal.

Besides the GMX, MUX Protocol, Radiant... projects in the DEX, Derivatives and Lending sectors, the most prominent name in the Yield field is called Pendle Finance (PENDLE). Pendle previously proposed Arbitrum to fund 2 million ARB for liquidity reward plans. In the vote before the Arbitrum community, Pendle received 97.65% of the votes in favor, out of a total of 137.9 million ARB. Pendle received 182 million ARB, equivalent to 97.65% of votes in support of the proposal to receive 2 million ARB funding.

According to Pendle's application on September 27, 2023, funds from Arbitrum STIP will be used by this DeFi protocol from October 2023 (after receiving funds) until January 31, 2024. With purpose:
·      Increase Yield trading volume;
·      Stimulate activity on the platform;
·      Enhance liquidity on existing pools, and add incentives for users to launch liquidity for the new Pendle market listed on Arbitrum;
·      Encourage activity for other protocols built on Pendle.During the above period, the sponsorship money will be used by Pendle to realize 3 goals:
·      Increase the total value locked (TVL) by 2 times from the current 46 million USD to 80 million USD;
·      Average monthly trading volume to 20 million USD from the current 13 million USD mark;
·      Increasing the number of monthly platform users to 8,000 from 5,000 users at the time of writing.

The goal is to increase Pendle's TVL, trading volume and monthly users from October 2023 - January 2024. Photo: Arbitrum Foundation forum
The amount of 2 million ARB tokens that Pendle requested to sponsor, accounting for about 4% of the total program budget, will be divided into 3 parts and distributed as follows:

·      1,100,000 ARB (55%): Allocated to liquidity pools on Arbitrum in phases, each phase lasting 1 week, to enhance liquidity. Because each pool represents each asset with a different Yield level, Pendle will work closely with partners Lido, GMX, Gains Network, RocketPool, Camelot, HMX, Stargate and Penpie...
·      800,000 ARB (40%): Allocated to various campaigns on Arbitrum to increase activity and trading volume. Every month, Pendle campaigns will be continuously updated to attract users. Based on the rankings, users with the top trading volume and net P&L will receive ARB rewards.
·      100,000 ARB (5%): Will be allocated as rewards for users when exploring and experiencing new protocols that have been integrated into the Pendle ecosystem on Arbitrum, thereby stimulating users to increase their holdings Pendle property.
Pendle Finance or Pendle is a DeFi protocol developed on Ethereum that allows users to tokenize and trade future asset staking profits through an AMM mechanism. With Pendle Finance, users can flexibly apply many different strategies to optimize returns from their assets.(What is the Defi platform that supports Pendle?)

Pendle is the 35th Launchpool project of leading cryptocurrency exchange Binance. This DeFi protocol 1 month later on August 23, 2023 also received a strategic investment from the Binance Labs Incubation Fund.

Binance Labs representative commented that the investment in Pendle will reaffirm its commitment to nurturing potential advances in the cryptocurrency market, in addition to helping Pendle deploy its profit optimization strategy to multiple ecosystems. different, opening up capital optimization opportunities for both individual and institutional investors.

Most recently, they also made a move to launch a product based on Real World Asset (RWA) - a potential narrative. Both the protocol's RWA and Fixed Yield products support Spark Protocol's sDAI and Flux Finance's fUSDC.