Pendle Finance, which provides services for fixed income and tokenization of returns to its users, has approached the billion dollar threshold.
According to DeFiLlama data, the total value of assets held on the Pendle platform, to the level of 990 million dollars came.
Founded in June 2021, Pendle provides incentives for pooling yield-generating tokens and creating yield markets across different DeFi platforms. Pendle uses the Ethereum, Avalanche and BNB Chain blockchains.
One of the Pendle developers said in a statement on Telegram: “Liquid staking tokens are the main reason for the recent growth in Pendle.” said that. Liquid staking tokens allow users to unlock tokens they have already staked on a blockchain. enable them to generate returns in other applications as well. provides.
Pendle Finance received investment from Binance’s investment arm, Binance Labs, last year to increase return opportunities in the DeFi space.