Leading cryptocurrency exchange Binance has announced its 35th project on the platform, adding Pendle (PENDLE) to its Launchpool platform. Pendle is a trading protocol that allows users to split yielding assets into principal and yield components, offering opportunities to earn fixed or flexible returns. The launch will take place at 3:00 am on July 4, 2023, and the farming period will last 25 days. Here are the details…
Binance made two listings in one day
Listed in the Innovation Category this morning, PENDLE is also coming to Launchpool, according to a new announcement. Binance, PENDLE’s Launchpool launch will take place tonight. Pendle’s innovative approach to yield management has garnered a lot of attention in the crypto community. Pendle’s v2 AMM (Automated Market Maker) allows users to implement a variety of yield management strategies by tokenizing yielding assets into principal tokens (PT) and yield tokens (YT). The protocol offers flexibility for users to earn fixed or variable returns while maintaining control over their investments.
As part of the Launchpool initiative, Binance users will have the opportunity to stake their Binance Coins (BNB) and TrueUSD (TUSD) in separate pools to collect PENDLE tokens. Staking conditions have no upper limit. However, users must complete the KYC (Know Your Customer) process to participate. Pendle (PENDLE) token, with a total supply of 251,061,124 PENDLE, will distribute 5,021,222 tokens as rewards during the farming period. This represents 2 percent of the total token supply and provides attractive incentives for participants. At launch, the circulating supply will be approximately 140,192,253.58 PENDLE, accounting for 56 percent of the total token supply.
More about Pendle
To further support liquidity and participation, Binance will allocate 80 percent of the rewards to the BNB pool and the remaining 20 percent to the TUSD pool. Users can stake their own assets and earn PENDLE tokens as rewards. Pendle’s native utility token, PENDLE, serves various functions within the ecosystem. It is used to create liquidity for protocols by providing incentives. In addition, locked and PENDLE holders can participate in the administration by voting to have their emission rewards directed to different pools. In addition, andPENDLE holders accrue fees on clearing transactions at Pendle’s AMM and receive token fees that are redistributed only to them.
Pendle has already gained recognition in the crypto space by being listed in Binance’s Innovation Category this morning. This listing cryptocoin.com You can see it in this article we prepared. . The innovative design and unique features of the protocol attracted investors with a seed round raising US$3.7 million in April 2021. The total supply of PENDLE is 251 million tokens and with the circulating supply set at around 140 million tokens at launch, the project promises significant growth potential.
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