Yield platform Pendle has amassed billions of value in just a few months, with heavy trading volume at the same time.
The total value of crypto held on Pendle has reached $4 billion, as the yield trading platform continues to attract attention.
Pendle has significantly benefited from the ongoing ether restaking boom, as most of the trading is concentrated around liquid restaking tokens related to ether and its corresponding yield. Trading of tokens related to the synthetic dollar protocol Ethena has also been significant, as it has gathered a lot of attention alongisde its own growth and token launch. Yield pools for its stablecoin USDe recently introduced on Pendle have contributed over $500 million in TVL.
The majority of trading on Pendle occurs on Ethereum, but the project is gaining some traction on Ethereum Layer 2 networks like Arbitrum and Mantle.Pendle also lets users make trades with their points. Points are where projects allocate loyalty points to users for activities such as trading volume, which may later be turned into tokens if an airdrop is to take place. However, such airdrops are guaranteed and the potential value that may be gleaned from these points is uncertain.
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