The Pendle Print #8
What's better than 3 pools a week?
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.
4 Pool Launch Week
Aside from CEX funding rates, money market borrow rates have also been driven up during this bull market.
This week, we have introduced several new pools to facilitate trading of fixed/floating rates for money market:
sDAI Pool 28 Mar 2024 (Ethereum) by Spark Protocol – in response to market conditions, the Dai Savings Rate DSR has increased from 5% to 15% for sDAI.
2 and 3. Aave’s aUSDT Pool 26 Sep 2024 (Ethereum) and aUSDC Pool 27 Jun 2024 (Arbitrum).
Plus an additional LRT pool this week, on Zircuit.
ezETH (Zircuit) Pool 27 Jun 2024 (Ethereum): leveraged Zircuit, Renzo, and EL Points exposure
New DeFi Integrations
$ETHFI on Binance Launchpool
$ETHFI was announced on Binance Launchpool, which led to a spike in trading activities on Etherfi’s Pendle pools eETH Pool 27 Jun 2024 (Ethereum) and eETH 25 Apr 2024 (Arbitrum).
Trades of the Week 🔥
LP 1,500 uniETH ($8M) into uniETH Pool 27 Jun 2024 (Ethereum) @ >30% boosted APY
Swap 1,324 eETH ($5.3M) for 1,391 PT-eETH-27JUN2024 (Ethereum) @ 20% fixed APY
Swap 50 rsETH for 858 YT-rsETH-27JUN2024 (Ethereum) @ 17x points & yield exposure
Intern Insights
ICYMI, Season 2 of Pendle’s Yield Trading Competition is ongoing.
Case studies on successful yield traders on Pendle.
Ethena’s USDe-04APR24 is currently trading @ 196% APY.
Ether.fi’s YT-eETH valuation.
Twitter Highlights
That’s it for this issue.
Attention and capital is scarce in this market – and for that we thank you for your continuous support.
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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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