Pendle is the ultimate yield market in DeFi – fixed yields, floating yields, leveraged yield trading, “yield-neutral” liquidity provision.
The objective of The Pendle Print is to distill the developments in DeFi yield markets into a succinct and actionable format.
First LRT Pool on Arbitrum
This week, Pendle listed its first Arbitrum LRT pool – eETH Pool 25 Apr 2024
Important resource:
Ether.fi’s weETH Bridging Guide: link
The adoption of LRT pools on Pendle have been nothing short of phenomenal. Just ahead of the Lunar New Year 2024, Pendle has just crossed $1B in TVL:
More on our Analytics Dashboard here.
LRT Wars & Opportunities on Pendle
Ignas put out a comprehensive analysis on the LRT Wars and why this narrative has been so dominant. Primary elements include:
Higher yields on ETH
Points & Airdrops
Simplicity
On LRT opportunities on Pendle:
For example, eETH (EtherFi), rsETH (KelpDAO), and ezETH (Renzo) are integrated into Pendle where LRT ‘goodies’ are split into two parts:
YT: gives you exposure to yield, points, and airdrops from LRT protocol & Eigenlayer
PT: gives you fixed APY (with a lock up) up to 41% on ezETH
Read the full write-up here.
Trades of the Week 🔥
Swap 3,497 eETH for 3,851 PT-eETH ($8M) @ 26% fixed APY
Swap 3,800 eETH for 4,167.36 PT-eETH ($8.8M) @ 25% fixed APY
Trading Strategies
Eigenlayer Points farming – WhalesMarket vs Pendle
Eigenlayer points valuation by Messari analyst
Whale (wallet) watching: analytico.eth
Guide on Kelp’s rsETH.
Long PT strategy
Twitter Mentions
Pendle mentioned on Bloomberg
Spike in vePENDLE yields from exponential rise in TVL and trading volumes
That’s it for this issue.
Attention and capital is scarce in this market – and for that we thank you for your continuous support.
For those celebrating, wishing all a healthy and prosperous Lunar New Year of the Dragon! 🍊🧧
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Pendle is the largest rate swap protocol for fixed yields and yield trading in DeFi. Pendle’s adoption as a DeFi primitive has been growing across protocols and institutions to generate more yield, secure fixed yields and directionally trade yield on yield-bearing DeFi assets.
Disclaimer: Nothing written in this post is intended to serve as financial advice. All content in this post serves merely for informational purposes.
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