HomeNEWSPendle Finance launches Earn program to aid DeFi yields

Pendle Finance launches Earn program to aid DeFi yields


Follow us


Today, leading DeFi platform, Pendle Finance has launched its Earn program to provide huge and safe returns for users. The firm disclosed the development via a thread of tweets on its official handle. According to Pendle Finance, the new initiative emerged in a bid to simplify DeFi fixed rates and yields for users. While aiming to simplify the process, the project emphasized the need to retain the core features of DeFi.

Furthermore, Pendle stated that the Earn initiative will be on-chain and accessible to everyone. To achieve the goal of onboarding users to the program, Pendle Finance revealed that it will streamline users’ experience to help users earn and grow their investments. According to the announcement, the program doesn’t require users to have vast knowledge about DeFi.

In the announcement, Pendle compared the service to centralized projects. Pendle Finance disclosed that the project allows seamless integration of various protocols that can enhance users’ experience. The project highlighted the flexibility of the Earn initiative towards incorporating various firms like centralized exchanges and institutional bodies. With that, the protocol intends to encourage wider utilization of the protocol and onboard more users.

Pendle is now on BNB

Recently, the protocol expanded its offering to the BNB chain. According to its team, the expansion was done so as to attract new users and more revenues. Pendle is quite popular due to its DeFi yields. It seeks to explore the potential in the yield market. According to findings, it usually offers these yields to users in the form of tradable virtual tokens.

This Pendle offering comes with several strategies such as its 82% annualized yields on ether (ETH) and ether derivative tokens. Notably, the maturity period of these strategies ends in 2024. Meanwhile, the total locked value of assets on Pendle, so far, has grown by more than 300% since January, 2023. This is despite the bear market that has discouraged investors in the industry.

Read More:

Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

Most Popular