Pendle's vePENDLE Staking Surpasses 40 Million Tokens, Boros Initiative to Launch
1min read Pendle, a decentralized finance (DeFi) protocol, has released its weekly update, highlighting significant developments and milestones. The co-creator of Pendle, TN Lee, announced that Boros, a new initiative, is set to launch soon. Boros aims to break through the limitations of Pendle V2 by unlocking funding rates, which are considered the largest source of yield in the crypto space. This new system is expected to reshape DeFi yield strategies by introducing a funding rate trading mechanism.
In addition to the upcoming launch of Boros, the update also revealed that the vePENDLE staking amount has surpassed 40 million tokens. This represents a new all-time high of around 61 million tokens locked, which is approximately 37% of the circulating supply. The average staking duration is 1.31 years, indicating a strong commitment from the community to support the protocol's growth and development.
Ask Aime: What's the impact of Boros' launch on DeFi yield strategies?
The crypto investment firm The Spartan Group has been utilizing Pendle PT to secure high fixed-income for stablecoins and major cryptocurrencies without the need for locking. This approach allows funds to maintain liquidity, enabling them to adjust and reallocate with market changes. The Spartan Group also monitors Pendle YT's trading activity and price trends, providing a valuation benchmark for pre-launch tokens based on data rather than pure speculation.
Furthermore, aave has launched a new round of voting for Pendle PT, allowing users to participate in the decision-making process. This voting mechanism is part of Pendle's ongoing efforts to engage the community and ensure that the protocol evolves in line with the needs and preferences of its users.
Overall, the weekly update from Pendle highlights the protocol's continued growth and innovation in the DeFi space. With the upcoming launch of Boros and the strong community support demonstrated by the high staking amounts, Pendle is well-positioned to reshape DeFi yield strategies and unlock new opportunities for investors.
