Pendle的Defi Evolution：從固定收益到機構基礎設施

彭德爾（Pendle）在Defi中引起了海浪，從固定收入平台過渡到機構參與者的全面基礎設施。

Pendle's DeFi Evolution: From Fixed Income to Institutional Infrastructure

Pendle的Defi Evolution：從固定收益到機構基礎設施

Pendle is rapidly evolving within the DeFi landscape, transitioning from a fixed-income platform to a comprehensive infrastructure for institutional players. Let's dive into the latest developments and what they mean for the future of DeFi.

Pendle在Defi景觀中迅速發展，從固定收入平台過渡到機構參與者的全面基礎設施。讓我們深入了解最新的發展及其對Defi的未來意味著什麼。

Pendle: More Than Just Yield Aggregation

Pendle：不僅僅是產生聚合

Pendle isn't just another yield aggregator; it's designed for assets that degrade over time, creating a marketplace for future cash flows. Its modular AMM, governance-driven vePENDLE model, and cross-chain reach (Ethereum, Arbitrum, Avalanche, Optimism) set it apart. Think of it as tokenized hedge funds meeting DeFi.

Pendle不僅是另一個收益匯總器；它專為隨著時間的推移而降低的資產而設計，為未來現金流動創造了市場。它的模塊化AMM，治理驅動的Vependle模型和跨鏈覆蓋範圍（以太坊，仲裁，雪崩，樂觀）使它與眾不同。將其視為像徵化的對沖基金會議defi。

Key Features and Recent Advancements

關鍵特徵和最新進步

Pendle's V2 upgrade has optimized the platform, now supporting over 100 active pools. This upgrade is crucial for enhancing efficiency and scalability. Pendle PT (Principal Token) has become significant collateral, with a market value exceeding $26.7 billion. Aave holds over $21 billion PT as collateral, showing the trust in Pendle's tokens.

Pendle的V2升級優化了該平台，現在支持100多個活動池。此升級對於提高效率和可擴展性至關重要。 Pendle PT（主要令牌）已成為大量抵押品，市場價值超過267億美元。 Aave作為抵押品持有超過210億美元的PT，表明了Pendle代幣的信任。

Boros Platform: A Game Changer

Boros平台：改變遊戲規則的人

Looking ahead, Pendle will launch the Boros platform in the second half of the year. This platform will introduce a fully on-chain order book, facilitating efficient capital utilization and diversified trading strategies. This should solidify Pendle's position in the DeFi market by providing more robust and flexible trading options.

展望未來，彭德（Pendle）將在下半年推出Boros平台。該平台將介紹一本完全的鏈訂單書籍，促進有效的資本利用和多元化的交易策略。這應該通過提供更健壯和靈活的交易選項來鞏固Pendle在Defi市場中的地位。

Strategic Integrations and Collaborations

戰略整合和合作

Pendle's deep integration with the Ethena and Converge chains is a significant development, supporting over 60% of Ethena's Total Value Locked (TVL). This collaboration advances institutional collaboration within DeFi and shows Pendle's ability to foster partnerships that drive growth and innovation.

Pendle與Ethena和Converge連鎖店的深層整合是一個重大的發展，支持Ethena總價值鎖定的60％以上（TVL）。這種合作推動了Defi內部的機構合作，並表明了Pendle促進增長和創新的伙伴關係的能力。

Terminal: Powering Institutional Users

終端：為機構用戶提供動力

The launch of Terminal is a new addition to the Pendle ecosystem, aiming to provide more powerful tools and features for institutional users. It integrates KYC-compliant Real-World Assets (RWAs), such as BlackRock's BUIDL, and has attracted over $60 million in liquidity with Pendle's liquidity support. This is a significant step towards enhancing the platform's appeal to institutional investors.

終端的推出是Pendle生態系統的新成員，旨在為機構用戶提供更強大的工具和功能。它集成了符合KYC的現實世界資產（RWAS），例如BlackRock的Buidl，並在Pendle的流動性支持下吸引了超過6000萬美元的流動性。這是提高平台吸引機構投資者的重要一步。

LP Collateralization and vePENDLE Rewards

LP抵押品和Vependle獎勵

Morpho has opened up Pendle LP as collateral, allowing Pendle's liquidity providers (LPs) to use their LP tokens as collateral. This provides LPs with greater flexibility, enabling them to earn rewards while leveraging the collateral's value. Also, the upcoming distribution of June rewards for vePENDLE holders provides an additional incentive for user engagement.

Morpho已開放Pendle LP作為抵押品，使Pendle的流動性提供商（LP）可以將其LP代幣作為抵押。這為LP提供了更大的靈活性，使他們能夠在利用抵押品價值的同時獲得獎勵。此外，Vependle持有人的June獎勵即將到來的分配還為用戶參與提供了額外的激勵措施。

Arca's Confidence in Pendle

阿爾卡對彭德爾的信心

Institutional players like Arca have been steadily building up their PENDLE holdings. In the last six days, Arca wallets have taken approximately 2.18 million PENDLE from exchanges, demonstrating a significant level of long-term confidence. It's like they're saying, "We're in this for the long haul!"

像Arca這樣的機構參與者一直在穩步建立自己的吊具。在過去的六天中，Arca錢包從交易所中佔據了約218萬筆的支出，表明長期的信心水平很高。就像他們在說：“我們很長一段時間！”

Final Thoughts: Pendle's Bright Future

最終想法：彭德（Pendle）的光明未來

Pendle's transition to an institutional-grade infrastructure, unique features, and recent advancements are positioning it as a leading player in the DeFi space. The launch of Terminal, the integration with Ethena and Converge chains, and the distribution of rewards are all significant developments that are expected to drive further growth and innovation. So, keep an eye on Pendle; it's going places!

Pendle向機構級基礎架構，獨特的功能和最新進步的過渡將其定位為Defi Space的領先參與者。終端的推出，與Ethena和Converge Chains的整合以及獎勵的分配都是有望推動進一步增長和創新的重大發展。因此，請密切關注Pendle；它要去的地方！

In conclusion, Pendle isn't just participating in the DeFi revolution; it's actively shaping it. With its focus on institutional-grade infrastructure and innovative features, Pendle is setting the stage for the future of decentralized finance.

總而言之，彭德（Pendle）不僅參加了革命。它正在積極塑造它。 Pendle著眼於機構級基礎設施和創新功能，為分散金融的未來奠定了基礎。