#小羊精选 This article summarizes the project overview and mechanism design of $PENDLE. It is worth taking the time to read.

Project Description

Pendle is an interest rate derivatives protocol built on multiple chains. It performs "coupon stripping" on interest-bearing token assets - tokenizes earnings, splits them into independently tradable interest payment parts and principal payment parts, and mints them. Issue corresponding tokens. Currently, Pendle is deployed in Ethereum, Arbitrum, Bsc and Optimism, and has a wide range of products launched at the same time. The LSD track includes Lido, Frax, and Swell, the cross-chain bridge project Stargate, and the RWA track's SparkProtocol (under MakerDAO) and FluxFinance. The Arbitrum chain also includes RocketPool for the LSD track, GMX for the sustainable track, etc. Pendle introduces the interest rate derivatives market of traditional finance into the cryptocurrency field, enriches market investment tools, and provides liquidity for Liquidity Collateralized Derivatives (LSD) and RWA-related products. Users can also execute yield management strategies by buying and selling post-split tokens.