The Defiant - DeFi Podcast Pendle Finance Deep Dive With Founder TN Lee
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Apr 1, 2024 Founder TN Lee discusses Pendle Finance, a DeFi platform for future yield trading. They cover Pendle's growth, core concepts, use cases, risks, and future plans. Explore lessons from Kyber, differences with TradFi, and what's next for Pendle.
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Pendle's Growth Factors
- Pendle's growth from $300M to $2B TVL is attributed to product-market fit, aggressive business development, and timely narrative capturing.
- Partnering with larger brands like Balancer and Rocketpool helped broadcast Pendle's value proposition.
Early Points Distribution Experience
- Pendle's work with Swell last year provided experience with off-chain points distribution.
- This experience prepared them for the rise of EigenLayer and restaking protocols.
Leveraging Points with PT/YT
- Pendle leverages points by splitting yield-bearing assets into principal and yield tokens (PT/YT).
- Increased YT demand raises YT price and lowers PT price, creating opportunities for both yield speculators and fixed-yield seekers.