Pendle Protocol Achieves $58 Million TVL

Just a month after its launch, the Pendle protocol has recorded a total value locked (TVL) of $58 million, according to Dune. This significant figure represents both trust and excitement within the DeFi community.

Innovative Yield Strategies

Pendle employs a unique approach by combining multiple yield strategies, such as Principal Token (PT), Yield Token (YT), and Liquidity Provider (LP). This enables users to engage their assets flexibly, moving beyond traditional staking methods that can often feel monotonous.

Diverse Asset Support

On Sonic, Pendle now supports a variety of derivative assets, including Liquid Staking Tokens (LST) like stS, wOS, and wanS. Additionally, Pendle accommodates algorithmic stablecoin assets from two different protocols: aUSDC (from Aave) and wstkscUSD (from Rings Protocol). The inclusion of these stablecoins helps users navigate the volatile market with a sense of security.

Further expanding its offerings, Pendle has added support for Bitcoin (BTC) and Ethereum (ETH) assets, including SolvBTC.BBN and wstkscETH, enhancing the platform’s overall appeal.