What is Pendle (PENDLE)

1. Project Introduction
Pendle Finance is a DeFi protocol that tokenizes and trades yield, allowing users to manage a variety of yield strategies. Pendle operates through three core components: yield tokenization, the Pendle AMM, and the VePendle governance system. Yield-bearing assets are split into Principal Tokens (PT) and Yield Tokens (YT). PT can be redeemed for the underlying asset at a 1:1 ratio upon maturity but does not accrue yield. YT represents the yield of the asset until maturity. Both PT and YT can be traded via Pendle's AMM, enabling efficient yield trading in DeFi.
Summary: Pendle introduces fixed-rate income strategies into crypto, allowing yield-seeking traders to lock in future rates and liquidity, enhancing the flexibility of the yield market. Pendle currently holds a Total Value Locked (TVL) of $2.35 billion and has facilitated $26.1 billion in total trading volume.
2. Team & Investment Info
TN Lee: Co-founder & CEO, Director of Dana Labs, former RockMiner advisor, and member of Kyber Network’s founding team.
Vu Nguyen: Co-founder, former technical lead at Digix.
Long Vuong Hoang: Head of Engineering, previously a Paradigm Fellow.
Funding: April 2021: Pendle raised $3.5 million in funding, led by Mechanism Capital, with participation from HashKey Capital, CMS, DeFi Alliance, and others.
August 2023: Binance Labs invested in Pendle Finance, though the amount was undisclosed.
3. Social Media URLs
X: https://x.com/pendle_fi
Telegram: https://t.me/pendlefinance
Discord: https://discord.com/invite/EAujvncY2R
4. Token Info
Token Symbol: PENDLE
Total Supply: 258,446,028
Token Type: ERC-20
Contract Address: https://etherscan.io/token/0x808507121b80c02388fad14726482e061b8da827
Token Distribution:
Binance Launchpool: 2%
Investors: 15%
Public Fund: 7%
Team: 22%
Foundation: 16%
Advisors: 1%
Liquidity Mining: 37%
5. Related Links
Official Website: https://www.pendle.finance/
White Paper: https://docs.pendle.finance/home?utm_source=landing&utm_medium=landing
LinkedIn: https://www.linkedin.com/company/pendlefinance/
Other Info: https://www.rootdata.com/Projects/detail/Pendle?k=ODc0