Pendle：加密領域的失敗者

加密貨幣專家 Charles Edwards 認為 PENDLE 是山寨幣市場上最被低估的資產。 PENDLE 的 TVL 高達 46 億美元，佔加密貨幣領域的 5%，但市值僅 14%，提供了一個高回報的投資機會。 BitMEX 的 Arthur Hayes 也表達了樂觀態度，他表示，「DEFI 的未來是 PENDLE」。該幣今年的價格上漲了 590%，最近又飆升了 220%，證明了其強勁的表現。

Pendle: Unveiling the Most Undervalued Gem in the Altcoin Realm

Pendle：揭開山寨幣領域最被低估的寶石的面紗

In the labyrinthine cryptocurrency landscape, Charles Edwards, the visionary behind Capriole Investments, has illuminated a hidden treasure – Pendle (PENDLE). This decentralized finance (DeFi) protocol has captured Edwards' attention with its remarkable metrics and underappreciated value within the market.

在迷宮般的加密貨幣領域，Capriole Investments 背後的遠見卓識者查爾斯·愛德華茲 (Charles Edwards) 揭示了一個隱藏的寶藏——Pendle (PENDLE)。這種去中心化金融（DeFi）協議以其卓越的指標和市場上被低估的價值吸引了愛德華茲的注意。

According to Edwards, PENDLE stands as "perhaps the most undervalued alt right now." With a staggering total value locked (TVL) of $4.6 billion, accounting for nearly 5% of the entire crypto universe, PENDLE's market cap remains a mere 14% of its TVL. This stark discrepancy suggests a significant undervaluation and an opportunity for explosive growth.

根據愛德華茲的說法，PENDLE「可能是目前最被低估的替代品」。 PENDLE 的鎖定總價值 (TVL) 高達 46 億美元，佔整個加密貨幣領域的近 5%，但其市值仍僅佔其 TVL 的 14%。這種明顯的差異表明估值被嚴重低估，並且存在爆炸性增長的機會。

"Ludicrous growth," Edwards proclaims, echoing the sentiment expressed in DefiLlama's latest TVL chart.

“增長可笑”，Edwards 宣稱，這呼應了 DefiLlama 最新 TVL 圖表中表達的觀點。

Echoing Edwards' optimism, Arthur Hayes, the founder of BitMEX, declares, "The future of DeFi is PENDLE. Yachtzee bitches."

BitMEX 創始人 Arthur Hayes 呼應了 Edwards 的樂觀態度，他宣稱：“DeFi 的未來是 PENDLE。Yachtzee 母狗。”

Over the past year, PENDLE has soared by a remarkable 590%. Its 220% surge in the past month alone has solidified its position as a stellar performer amidst the volatility of the broader crypto market. This upward trajectory mirrors Pendle's impressive TVL growth, which has skyrocketed from a mere $240 million at the beginning of the year to its current $4.6 billion.

在過去的一年裡，PENDLE 的股價飆升了 590%。光是過去一個月就飆升了 220%，鞏固了在更廣泛的加密貨幣市場波動中表現出色的地位。這一上升軌跡反映了 Pendle 令人印象深刻的 TVL 成長，TVL 已從年初的區區 2.4 億美元猛增至目前的 46 億美元。

Crypto researcher 100y.eth attributes PENDLE's meteoric rise to its innovative tokenomics and utility. "Pendle Finance revolutionizes DeFi by enabling tokenization and separation of yield-bearing tokens into PT (Principal) and YT (Yield), which are traded on Pendle's AMM," explains 100y.eth. "This innovation lies at the heart of Pendle's growing popularity."

加密貨幣研究人員 100y.eth 將 PENDLE 的快速崛起歸因於其創新的代幣經濟和實用性。 100y.eth 解釋道：“Pendle Finance 通過實現代幣化並將收益代幣分離為 PT（本金）和 YT（收益），並在 Pendle 的 AMM 上交易，徹底改變了 DeFi。” “這項創新是 Pendle 日益受歡迎的核心。”

Complementing Edwards' analysis, 100y.eth notes significant whale activity, indicating confidence in PENDLE's long-term value proposition.

100y.eth 注意到大量鯨魚活動，這對 Edwards 的分析進行了補充，表明對 PENDLE 長期價值主張的信心。

A key element of PENDLE's allure lies in its vePENDLE system, which enhances its governance model while incentivizing long-term investment. "Magic resides in vePENDLE," says 100y.eth. "By locking PENDLE, users receive vePENDLE, deepening their engagement with the ecosystem. This mechanism fosters community governance and amplifies rewards for liquidity providers."

PENDLE 的吸引力的一個關鍵因素在於其 vePENDLE 系統，該系統增強了治理模型，同時激勵長期投資。 100y.eth 表示：“vePENDLE 蘊藏著魔力。” “透過鎖定 PENDLE，用戶可以獲得 vePENDLE，從而加深他們與生態系統的參與。這種機制可以促進社區治理並增加對流動性提供者的獎勵。”

vePENDLE holders play a crucial role in PENDLE's governance dynamics. They influence liquidity through voting, directing incentives towards specific liquidity pools. The surge in voter APYs from 100% to 400% underscores PENDLE's growing appeal.

vePENDLE 持有者在 PENDLE 的治理動態中發揮著至關重要的作用。他們透過投票影響流動性，將激勵措施導向特定的流動性池。選民 APY 從 100% 飆升至 400%，凸顯了 PENDLE 日益增長的吸引力。

Amidst the excitement surrounding the launch of LRT and Ethena, PENDLE's innovative tokenomics and synergy with market trends create unprecedented yield opportunities for vePENDLE holders. At the time of writing, PENDLE trades at $7.37.

在圍繞 LRT 和 Ethena 推出的興奮之中，PENDLE 的創新代幣經濟以及與市場趨勢的協同作用為 vePENDLE 持有者創造了前所未有的收益機會。截至撰寫本文時，PENDLE 的交易價格為 7.37 美元。

The remarkable ascent of PENDLE exemplifies the relentless innovation and volatility that characterize the cryptocurrency world. However, unraveling the hidden riches beneath this digital realm requires keen observation, sound reasoning, and a prudent approach to risk management.

PENDLE 的顯著上升體現了加密貨幣世界的不斷創新和波動性。然而，揭開這個數位領域背後隱藏的財富需要敏銳的觀察、合理的推理和審慎的風險管理方法。