TN Lee (Pendle): Pendle Snapshot | ETHSofia

Transcript

[Music] hello I'm Tien the CEO and co-founder of Pendle Pendle is a protocol designed for tokenizing and trading yield what the protocol does is split yield bearing assets like a usdc into two parts principal tokens PT and yield token YT allowing them to be traded separately handle PR primarily serves two key use cases firstly for users who are optimistic about the assets apy they can purchase YT to speculate on potential yield growth secondly for users seeking more

certainty they can buy PT to log in a fixed apy holding it until maturity to ensure stability Pendle was established in 20120 following the defi Summer with the goal of bringing fixed rate products to the defi space initially we saw very limited traction but things took a positive turn with with the launch of our V2 at the end of 2022 now we've been very fortunate to grow alongside significant narrative arcs and Trends including each staking and arbitrum growth in the first half of 2023 our major breakthrough came when we entered the reaking sector in q1 2024 by

supporting points trading each issued by Major protocols such as Igan layer ether fi and ethena all of which accelerated our growth our current focus is on BTC F Bitcoin Remains the largest asset in the crypto space presenting significant opportunities for growth this year saw the launch of several highly promising Bitcoin Focus protocols including Babylon Lombard Soul horn botanics and a few others by our estimates there are approximately 16 to 17 billion dollar worth of BTC assets circulating in D5 in the form of rep BTC tbtc fbtc and a few

others yet we've only managed to capture around $500 million in BTC liquidity so far leaving plenty of room for expansion we believe this segment is points for continued growth and we are dedicated to partnering with the protocols that I've mentioned earlier to further Drive adoption aside from the Bitcoin segment we are also focusing on stable coins today's stable coin landscape extend beyond just usdt and usdc with various new options emerging demand for stable coin yields remains consistent and our stable coin markets have performed well

in general we're excited about new stable coin assets set to be listed on Pendle in the coming weeks and I look forward to the addition on the platform so in addition to V2 we are also channeling our efforts into developing V3 V3 is a leverag yield trading tool designed for scalability allowing for increased trading activity and a support for a broader range of assets we believe this will unlock new use cases within defy and more details on V3 will be shared by the Q4 of this year so as we look ahead with the development of V3 we anticipate even greater utility for defi building on the

strengths of core Primitives like amm and money markets with a growing focus on uiux I expect more defi protocols to prioritize cross-chain compatibility enabling seamless interaction of assets and services across multiple blockchains this will expand the range of defi activities further we can also look forward to increased composability across products sparkling more creative use cases that involve multiple protocols and I think this is truly native to the defi ecosystem lastly I firmly believe that defi will continue to be the driving force of innovation in the crypto space for years to come as Finance underpins

every economy def's impact will unlock new possibilities across all sectors having the way for a more open efficient and inclusive Financial system the future of defi is very bright and I'm excited about the incredible opportunities ahead as we work together to shape the future of [Music] Finance okay