Pendle Finance Brings In $50M With Impressive Ether Yields

Key Points:

• Yield management protocol Pendle Finance attracts over $50 million in renewed interest from traders looking to passively capture market returns.
• $26 million of which has been captured on the Ethereum network, $21 million on the Arbitrum network and just under $1 million on Avalanche.
• Staked ether (stETH) dominates the holdings, followed by GMX protocol’s glp tokens and dai (DAI) stablecoins.

Pendle Finance, a yield management protocol, has been making waves in the world of cryptocurrency as it attracts over $50 million in funds.

Traders have been looking to passively earn market returns, and Pendle Finance has been providing them with the perfect platform to do so. According to DeFiLlama data, the total value of assets locked on the platform has increased by over 300% since the beginning of the year, making it a popular choice among investors. The platform has managed to capture a significant portion of the funds on the Ethereum network ($26 million), followed by the Arbitrum network ($21 million) and Avalanche (just under $1 million).

The most popular asset on the platform is staked ether (stETH), which takes up 27% of all capital on the platform. Following stETH are glp tokens from GMX protocol, which make up 18% of the capital, and dai (DAI) stablecoins, which make up 16%. The platform’s strategies offer annualized yields of up to 82% on ether and ether derivative tokens, which have a maturity period ending in late 2023 or early 2024. This makes it an attractive option for investors who are looking for high returns on their investments.

Pendle Finance is also providing investors with the opportunity to purchase ether at a 5.88% discount, which is a significant incentive for investors to get involved. The ether can be claimed on December 26, 2024, and the discount will be made up for by capturing future expected yields on the principle amount. This is a unique offer that sets Pendle Finance apart from its competitors.

For more sophisticated strategies, investors can utilize ether derivatives offered by other projects, such as Frax, which are offering returns of up to 441% over a period of 624 days. This is an excellent opportunity for investors who are looking for higher returns and are willing to take on more risk. Overall, Pendle Finance has created an excellent platform that offers investors a range of options to earn high returns on their investments.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News