DeFi leader Pendle is accelerating its expansion. and PTYT segmentation mechanism leverages the fixed income market of 100 billion yuan? |Pendle Project Introduction |Pendle Pledge |Pendle Tutorial |PT YT ether.fi eETH GLP Income Strategy Agreement

[Note⚠️, cryptocurrencies are high-risk investments, and you may lose all your principal. If you don’t understand, don’t participate. This video has no investment advice, only as information sharing] This article revolves around Pendle, the leader of DeFi interest rate derivatives. In May 2025, it completed a fully decentralized transformation. Users can issue assets without permission and create liquidity pools, which drove the PENDLE token to rise by 8.3%, and the trading volume surged by 42%. It has now built an interest rate derivatives market with a scale of over US$5 billion and an annual trading volume of nearly 100 billion. Pendle's core innovation lies in the division of income rights and hedging interest rate risks, splitting interest-generating assets into principal tokens (PT) and income tokens (YT), realizing commodity trading of interest rate risks. Its AMM introduces a time decay factor, accounting for more than 50% of the market share in the DefiLlama income protocol. In terms of business, its TVL rose from US$230 million in 2023 to US$5.17 billion in 2025, and its average daily trading volume increased from US$1.1 million to US$964 million. In June 2024, its mature positions of US$3.8 billion were successfully settled. Revenue comes from YT transaction fees and PT liquidity pool commissions. The monthly income of the agreement exceeded US$2.27 million in June 2025, and the proportion of stablecoin assets exceeded 80%, which is deeply integrated with many leading agreements. Strategic upgrades have three pillars: V2 open architecture increases the issuance of new assets by 37% per month; Citadels plans to target multiple fields and cooperate with Standard Chartered to test; Boros hedging tools enter the on-chain derivatives market. In terms of regulation, the implementation of the US GENIUS Act, the CLARITY Act, the Hong Kong Stablecoin Ordinance is beneficial to its development, and the growth of the stablecoin market value drives its business. In terms of investment value, PENDLE is currently priced at US$3.71, with a circulating market value of US$401 million, with a 30-day increase of 29.47%. There is room for growth, but it also faces risks such as smart contract loopholes. The current on-chain earnings market transaction rate is low, and Pendle has great development potential. #pendle #cryptocurrency #crypto