Pendle Introduces V2 as the One-stop Yield-trading Protocol

30 November 2022, 16:00 GMT+0000
30 November 2022, 16:00 GMT+0000

Pendle has announced that it is launching V2 as a new and upgraded version of its protocol, which is set to feature a better user experience, an updated AMM, permissionless market creation, and many other functions.

The Pendle protocol is aiming to bridge the fixed-income industry worth over $6 trillion into the decentralized finance space. The yield-tokenization of yield-bearing assets is the key focus of Pendle through the use of Principal and Yield components which are analogous to zero-coupon bonds and coupon payments, respectively.

Through Pendle’s in-house Automated Market Maker (AMM), Pendle allows its users to trade yield without the risk of losses related to time decay, expand investment opportunities speculating on yield, and control yield rates along with minimum risk.

V2 is focused on underscoring the importance of decentralization and the permissionless approach to integrate assets in Pendle. The implementation of the EIP-5115 standard led by the Pendle team is another step in the given direction of allowing seamless and permissionless integration of any yield asset onto the protocol.

With its new and upgraded interface, V2 ushers users to a streamlined and comprehensive dashboard that does away with any complicated elements, allowing platform participants to focus solely on yield tokenization and trading.

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The use of the innovative vePENDLE asset as governance is yet another element acting in favor of the decentralization of the protocol, providing utility for the token and channeling rewards as inspired by Curve’s veCRV..

The upgraded Automated Market Maker as part of V2’s new features allows the concentration of liquidity within a range and increases its capital efficiency by up to 200x, while minimizing the risk of loss for liquidity providers and optimizing gas usage.

Another relevant upgrade integrated into Pendle V2 is the streamlined and straightforward interface, which emphasizes yield generation and user convenience.

Pendle has been audited several times by prominent auditors in the space which are available on the project’s official website.

The reports present that Pendle is fully secure and reliable as a protocol. The team behind the development of PendleV2 is highly distinguished with multiple ICPC and IOI medalists while the protocol is backed by crypto native investors such as Mechanism Capital, Crypto.com and The Spartan Group.

Pendle is planning bigger things in the future and can be seen with their latest support from other DeFi protocols in the space such as FRAX, Convex, Lido, Kyber Network, LooksRare and other ecosystems.

The Pendle project development team is confident that the inclusion of such players into the protocol will scale community reach and create better yield market possibilities.

Pendle is intent on developing further and establishing new partnerships for further scaling the protocol. The team is also currently in talks with institutional investors who will be willing to explore use cases for Pendle and eventually bridge the trillion-dollar fixed-income market to DeFi 

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