Key Takeaways
- Pendle Finance’s Total Value Locked (TVL) has surpassed $130M, with Lido Finance’s stETH pools leading the way.
- The stETH pools have experienced a remarkable 167% growth in TVL since May, making them the most actively traded yield asset with high volumes.
- Pendle has successfully launched wstETH pools on Arbitrum, capturing approximately $12.9M of liquidity within one month.
Pendle Finance, a leading decentralized finance (DeFi) protocol, has announced a significant milestone as its Total Value Locked (TVL) surpasses $130M. Among the various assets contributing to this achievement, Lido Finance’s stETH pools have emerged as the dominant force, showcasing impressive growth of 167% in TVL since May.
This surge in popularity has established the stETH pools as the most actively traded yield asset, attracting substantial volumes within the DeFi market. Pendle Finance recently introduced its first wstETH pools on Arbitrum, a layer 2 scaling solution for Ethereum in line with its commitment to innovation.
This launch has garnered remarkable success, as the wstETH pools captured approximately $12.9M of liquidity within a month, highlighting the confidence and interest of users. Notably, Pendle Finance now stands as the third largest holder of wstETH on Arbitrum, contributing to a significant 35% increase in wstETH supply on the platform.
The demand for Pendle’s native tokens, LST and LSTfi, has also increased. Investors and users recognize these tokens’ value and potential, leading to increased interest and trading activity. This surge in demand suggests the possibility of further growth for Pendle Finance and its associated tokens.
One of the key strengths of Pendle Finance lies in its offering of multiple stETH maturities. This unique feature creates a DeFi native yield curve, providing an indicator of the overall market outlook within the DeFi ecosystem.
This yield curve allows investors to assess the sentiment and risk appetite in the market, contributing to informed decision-making. It also potentially unlocks new opportunities for yield generation.
Pendle Finance has achieved a remarkable milestone with its TVL surpassing $130M, fueled by the dominance of Lido Finance’s stETH pools. The exponential growth of stETH pools in TVL showcases their popularity as the most actively traded yield asset.
Pendle’s successful launch of wstETH pools on Arbitrum has further strengthened its position in the market, capturing substantial liquidity and contributing to the increased supply of wstETH. The rising demand for LST and LSTfi tokens, coupled with the unique yield curve created by Pendle’s multiple stETH maturities, bodes well for the protocol’s future growth.
With plans to expand beyond Ethereum, Pendle Finance is poised to make its mark across various ecosystems within the DeFi landscape. How far this notion will be succesful time will tell.
Source
https://twitter.com/pendle_fi/status/1678375326790078464?s=20
