Pendle has recently caught the attention of the Sonic network.
Just one month after its launch, the protocol has recorded a $58 million total value locked (TVL), according to Dune. That is not only a large figure on paper, it also captures the unquestionably great trust and excitement of the DeFi community.
Source: Dune
How Pendle Mixes It Up With Multi-Yield Tactics
Behind this surge is an unusual strategy. Pendle does not rely on just one approach but combines several yield strategies such as Principal Token (PT), Yield Token (YT), and liquidity provision (LP). This combination allows users to utilize their assets in a much more flexible way, without having to be tied to traditional staking methods that can sometimes feel boring.
On Sonic, Pendle now supports a variety of derivative assets, including liquid staking tokens (LST) such as stS, wOS, and wanS.
From aUSDC to SolvBTC: Pendle Covers More Ground
Furthermore, Pendle also supports algorithmic stablecoin assets from two different protocols, namely aUSDC (from Aave) and wstkscUSD (from Rings Protocol). The presence of these stablecoins provides the stability needed by users to play safely in the midst of a market that can go up and down like a roller coaster.
Not only that, they also added support for BTC and ETH assets, including SolvBTC.BBN and wstkscETH, which expands the product range and strengthens the platform’s appeal.
Why Yield Tokens Are Stealing the Spotlight
However, what stole the most attention was the Yield Token (YT) strategy. Many users consider YT to be the most promising option.
The reason is simple: low fees, high potential returns. In the real world, this is like buying a cheap lottery ticket but with a more reasonable chance of winning. The balance between risk and return is what makes it much sought after.
Boros Bridges TradFi and DeFi in One Place
On the other hand, CNF reported in December 2024 that Pendle had also launched Boros, a new platform designed to maximize yield trading activities.
From traditional finance to blockchain-based systems, this platform allows traders quickly access many types of yield. Imagine you can open one application and choose ETH staking results or bank deposit interest without physically traveling. Time-saving and pragmatic.
Pendle: New Earnings Paths Through the Mantle Gateway
Looking back, in March 2024, Pendle also announced a strategic integration with Mantle Network. This partnership provides additional opportunities for users to earn income by staking assets in the Mantle ecosystem. This not only provides features but also increases Pendle’s reach to several Layer-2 networks apart from Ethereum.
Meanwhile, as of press time, PENDLE is swapped hands at about $2.74, up 2.70% over the last 24 hours and 31.90% over the last 7 days.