Pendle：加密领域的失败者

加密货币专家 Charles Edwards 认为 PENDLE 是山寨币市场上最被低估的资产。 PENDLE 的 TVL 高达 46 亿美元，占加密货币领域的 5%，但市值仅为 14%，提供了一个高回报的投资机会。 BitMEX 的 Arthur Hayes 也表达了乐观态度，他表示，“DEFI 的未来是 PENDLE”。该币今年的价格上涨了 590%，最近又飙升了 220%，证明了其强劲的表现。

Pendle: Unveiling the Most Undervalued Gem in the Altcoin Realm

Pendle：揭开山寨币领域最被低估的宝石的面纱

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.

在迷宫般的加密货币领域，Capriole Investments 背后的远见卓识者查尔斯·爱德华兹 (Charles Edwards) 揭示了一个隐藏的宝藏——Pendle (PENDLE)。这种去中心化金融（DeFi）协议以其卓越的指标和市场上被低估的价值吸引了爱德华兹的注意。

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.

根据爱德华兹的说法，PENDLE“可能是目前最被低估的替代品”。 PENDLE 的锁定总价值 (TVL) 高达 46 亿美元，占整个加密货币领域的近 5%，但其市值仍仅占其 TVL 的 14%。这种明显的差异表明估值被严重低估，并且存在爆炸性增长的机会。

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

“增长可笑”，Edwards 宣称，这呼应了 DefiLlama 最新 TVL 图表中表达的观点。

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

BitMEX 创始人 Arthur Hayes 呼应了 Edwards 的乐观态度，他宣称：“DeFi 的未来是 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.

在过去的一年里，PENDLE 的股价飙升了 590%。仅过去一个月就飙升了 220%，巩固了其在更广泛的加密货币市场波动中表现出色的地位。这一上升轨迹反映了 Pendle 令人印象深刻的 TVL 增长，TVL 已从年初的区区 2.4 亿美元猛增至目前的 46 亿美元。

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."

加密货币研究人员 100y.eth 将 PENDLE 的迅速崛起归因于其创新的代币经济和实用性。 100y.eth 解释道：“Pendle Finance 通过实现代币化并将收益代币分离为 PT（本金）和 YT（收益），并在 Pendle 的 AMM 上交易，彻底改变了 DeFi。” “这项创新是 Pendle 日益受欢迎的核心。”

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

100y.eth 注意到大量鲸鱼活动，这对 Edwards 的分析进行了补充，表明对 PENDLE 长期价值主张的信心。

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 的吸引力的一个关键因素在于其 vePENDLE 系统，该系统增强了治理模型，同时激励长期投资。 100y.eth 表示：“vePENDLE 蕴藏着魔力。” “通过锁定 PENDLE，用户可以获得 vePENDLE，从而加深他们与生态系统的参与。这种机制可以促进社区治理并增加对流动性提供者的奖励。”

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 的治理动态中发挥着至关重要的作用。他们通过投票影响流动性，将激励措施导向特定的流动性池。选民 APY 从 100% 飙升至 400%，凸显了 PENDLE 日益增长的吸引力。

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.

在围绕 LRT 和 Ethena 推出的兴奋之中，PENDLE 的创新代币经济以及与市场趋势的协同作用为 vePENDLE 持有者创造了前所未有的收益机会。截至撰写本文时，PENDLE 的交易价格为 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 的显着上升体现了加密货币世界的不断创新和波动性。然而，揭开这个数字领域背后隐藏的财富需要敏锐的观察、合理的推理和审慎的风险管理方法。