Pendle Rolls Out V2 of Its Yield-Trading Protocol
Pendle – the first DeFi yield-trading protocol, has announced the launch of V2 – an updated version of its all-in-one yield-trading platform, with new functions and features designed to enhance the user experience, creating an effortless and convenient entry into the DeFi yield market.
Pendle is a DeFi yield-trading protocol platform that aims to incorporate the $6 trillion fixed-income industry into the decentralized finance space. The aim of Pendle is to provide a lower barrier-to-entry market for newcomers, providing yield strategies for any yield-bearing asset through tokenization of yield where an asset is separated into a Principal and Yield Component. Principal mimics the functionality of zero-coupon bonds, while Yield is an equivalent of coupon payments.
The new version of Pendle highlights permissionless asset integration to underscore the decentralized nature of the protocol. A new and updated high-efficiency Automated Market Maker (AMM) has been introduced for mitigating impermanent loss, as well as a revamped interface of the application with a streamlined dashboard to augment the overall user experience. The V2 iteration of Pendle will also feature vePENDLE as the governance asset and ensure the decentralization of the system adheres to existing blockchain values. Another feature introduced in V2 is the use of EIP-5115 that provides the protocol a seamless and permissionless integration of any yield asset onto the protocol.
Pendle’s upgraded AMM is designed to concentrate liquidity within a range. This approach will allow the system to improve capital efficiency by up to 200x and minimize the risk of loss for liquidity providers. The upgrade also optimizes gas usage further benefiting liquidity providers with 4 revenue streams. With this, users can maximize profits and control their exposure to yield rates, expanding investment opportunities while lowering risks. The multiple functions included in the upgrade will give ample opportunities for combining various scenarios that provide users the ability to diversify with their strategies.
Pendle is a fully secure protocol that has been audited by several reputable third-party firms, each of which has confirmed its reliability. All official audit reports on the status of the Pendle protocol can be found on its official project website. The Pendle project is run by a team of highly experienced professionals who have participated in ICPC and IOI events with honors. The project is being supported by a number of prominent venture capital firms including Mechanism Capital, Crypto.com and The Spartan Group.
Pendle has launched with different DeFi heavyweights such as FRAX, Convex, Lido, Kyber Network, LooksRare and other market players. With more partnerships underway, the community of Pendle will be able to leverage the combined benefits of such cooperation and extract value from cross-injections of liquidity.
The roadmap Pendle includes numerous upcoming developments and partnerships, which will be aimed at scaling the system and benefiting the community. The development team is also currently in talks to attract institutional players for exploring potential use case scenarios of the protocol.
For the latest updates from the Pendle Protocol, follow their social media channels:
Twitter – https://twitter.com/pendle_fi
Discord – https://pendle.finance/discord
Medium – https://medium.com/pendle
Telegram – https://t.me/pendlefinance
