Summary
TLDR: Pendle Finance, an Ethereum-based yield trading protocol, has seen a 502% surge in 2021, with a total value locked surpassing $4 billion. This growth is driven by unique yield farming methods and increased protocol activity, making it the largest DeFi yield protocol and gaining recognition from industry experts.
Key Points
1. PENDLE has surged by 502% since the beginning of the year to reach new all-time highs, showcasing substantial growth amidst increasing protocol activity.
2. Pendle Finance, an Ethereum-based yield trading protocol, employs a unique approach to yield farming by dividing assets into Principal Tokens and Yield Tokens, allowing users to trade tokens while earning yields as high as 47% on the underlying assets.
3. The recent spike in Pendle’s activity can be attributed to raising the cap for its Ethena’s USDe pool to 400 million, leading to a significant increase in total value locked (TVL) surpassing $4 billion and a total trading volume of $10.5 billion.