Pendle的Defi Evolution：从固定收益到机构基础设施

彭德尔（Pendle）在Defi中引起了海浪，从固定收入平台过渡到机构参与者的全面基础设施。

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

Pendle的Defi Evolution：从固定收益到机构基础设施

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景观中迅速发展，从固定收入平台过渡到机构参与者的全面基础设施。让我们深入了解最新的发展及其对Defi的未来意味着什么。

Pendle: More Than Just Yield Aggregation

Pendle：不仅仅是产生聚合

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不仅是另一个收益汇总器；它专为随着时间的推移而降低的资产而设计，为未来现金流动创造了市场。它的模块化AMM，治理驱动的Vependle模型和跨链覆盖范围（以太坊，仲裁，雪崩，乐观）使它与众不同。将其视为象征化的对冲基金会议defi。

Key Features and Recent Advancements

关键特征和最新进步

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升级优化了该平台，现在支持100多个活动池。此升级对于提高效率和可扩展性至关重要。 Pendle PT（主要令牌）已成为大量抵押品，市场价值超过267亿美元。 Aave作为抵押品持有超过210亿美元的PT，表明了Pendle代币的信任。

Boros Platform: A Game Changer

Boros平台：改变游戏规则的人

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.

展望未来，彭德（Pendle）将在下半年推出Boros平台。该平台将介绍一本完全的链订单书籍，促进有效的资本利用和多元化的交易策略。这应该通过提供更健壮和灵活的交易选项来巩固Pendle在Defi市场中的地位。

Strategic Integrations and Collaborations

战略整合和合作

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与Ethena和Converge连锁店的深层整合是一个重大的发展，支持Ethena总价值锁定的60％以上（TVL）。这种合作推动了Defi内部的机构合作，并表明了Pendle促进增长和创新的伙伴关系的能力。

Terminal: Powering Institutional Users

终端：为机构用户提供动力

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.

终端的推出是Pendle生态系统的新成员，旨在为机构用户提供更强大的工具和功能。它集成了符合KYC的现实世界资产（RWAS），例如BlackRock的Buidl，并在Pendle的流动性支持下吸引了超过6000万美元的流动性。这是提高平台吸引机构投资者的重要一步。

LP Collateralization and vePENDLE Rewards

LP抵押品和Vependle奖励

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已开放Pendle LP作为抵押品，使Pendle的流动性提供商（LP）可以将其LP代币作为抵押。这为LP提供了更大的灵活性，使他们能够在利用抵押品价值的同时获得奖励。此外，Vependle持有人的June奖励即将到来的分配还为用户参与提供了额外的激励措施。

Arca's Confidence in Pendle

阿尔卡对彭德尔的信心

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这样的机构参与者一直在稳步建立自己的吊具。在过去的六天中，Arca钱包从交易所中占据了约218万笔的支出，表明长期的信心水平很高。就像他们在说：“我们很长一段时间！”

Final Thoughts: Pendle's Bright Future

最终想法：彭德（Pendle）的光明未来

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向机构级基础架构，独特的功能和最新进步的过渡将其定位为Defi Space的领先参与者。终端的推出，与Ethena和Converge Chains的整合以及奖励的分配都是有望推动进一步增长和创新的重大发展。因此，请密切关注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.

总而言之，彭德（Pendle）不仅参加了革命。它正在积极塑造它。 Pendle着眼于机构级基础设施和创新功能，为分散金融的未来奠定了基础。