Sei Network and Ecosystem Overview
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What is Pendle Finance? Things to know about Pendle Finance
- What is Pendle Finance?
- Pendle Finance Overview
- How Pendle Finance works
- Development team
- Investor
- Tokenomics
- Overview of Pendle Finance project tokens
- Token Allocation
- Token Allocation
- Utility of the PENDLE . token
- summary
What is Pendle Finance?
Pendle Finance Overview
Pendle Finance is a DeFi project that brings a new design when combining DeFi Yield and Trading Protocol. The project provides users with a platform where they can freely create strategies to profit from their own profits in the future.
How Pendle Finance works
Pendle Finance has a relatively simple operating mechanism as follows:
Step 1 : Pendle Finance will wrap Yield – Bearing Tokens (also known as profitable tokens) in the form of SY.
Step 2 : SY - the standard for issuing profit tokens in the future, will be divided into 2 types: PT (Principal Token - Original Token) and YT (Yield Token - Profit Token).
Step 3 : PT & YT are traded through custom Pendle AMM.
When you hold YT, PT or both, you can use them to:
- Use an original asset to mint PT and YT
- Use PT and YT at the ratio 1:1 to redeem the original asset
- When holding YT, you can claim rewards anytime you want
- And when holding PT, you can get back the original asset after maturity
In addition, Pendle Finance allows users to access a number of other profit-making strategies in the near future, including:
Fixing Your Yield: You will rely on supply and demand for PT to be able to buy assets at a discounted price and receive the full amount on the maturity date.
Leverage Yield Farming : Use leverage to generate more profit as 3AC did with Lido Finance & stETH.
Yield Trading : Your future profits can be traded, traded for more profit.
Development team
The project was built and developed by a Vietnamese team, including Nghia Pham, Thuc L., Daryl Tan, Kevin Tseng, Long Vuong Hoang...
Investor
On April 16, 2021, Pendle Finance raised $3.7 million in a Private round led by Mechanism Vapital with participation from Crypto.com , Spartan Group, Haskey Capital, LedgerPrime, Sora Ventures…
Tokenomics
Overview of Pendle Finance project tokens
- Project name: Pendle Finance
- Token: Pendle
- Blockchain: Ethereum
- Token classification: ERC 20
- Total Supply: 235,890.444 PENDLE
Token Allocation
- Ecosystem Fund: 19.2%
- Core Team: 5.7%
- Circulating: 65.1%
- Incentives: 10%
Token Allocation
In October 2022, PENDLE's inflation will be close to 2%/year and from that time, the inflation rate will be reduced by 1.1% every week until April 2026.
Utility of the PENDLE . token
Pendle Finance uses the same veToken model as many projects today. Pendle's veToken model has several highlights such as:
- vePENDLE will be locked for a maximum of 2 years and the value of vePENDLE will decrease over that time.
- All revenue of Pendle Finance protocol will be shared to vePENDLE.
- vePENDLE has the right to vote to direct incentives to different pools thereby generating more profits.
- A person who is both a liquidity provider (LP) and holds vePENDLE at the same time will get more rewards.
summary
Above are detailed information about Pendle Finance and the PENDLE token. This is a DeFi project with a very unique idea when it became the first Yield Derivatives project. opens up a whole new market in DeFi helping users effectively use their capital. If you are interested in this project, you can follow some more social networking channels such as:
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