$PENDLE has made further progress in the RWA space, but its token price doesn’t seem to be responding much.
The partnership between Pendle and Centrifuge was recently officially announced, bringing a Janus Henderson-related AAA-rated CLO credit product to the fixed-rate market on Base.
Put simply, on-chain yields used to revolve mainly around stablecoins and staked assets. Now, even credit yields from traditional finance can be split into PTs and YTs, letting users trade principal and future yield.
I’ve always thought this direction has potential. As the RWA market grows, it will need more than just bringing assets on-chain—it will also need interest rate pricing and yield trading.
But don’t equate this partnership directly with a bullish signal for PENDLE.
PENDLE is currently around $1.75, basically flat over the past 24 hours, with trading volume of about $36 million, down roughly 27% from the previous day. The market has yet to show any clear confirmation through a surge in volume.
RWA credit also carries default, liquidity, and smart contract risks. Whether this new market can increase protocol fees and ultimately benefit PENDLE still needs to be validated by data.
My view: The long-term direction is worth watching, but I wouldn’t chase it for now. I’d first look for real trading volume and capital being committed before considering a reassessment.
#美国10月非农出炉：降息还有戏吗？
The partnership between Pendle and Centrifuge was recently officially announced, bringing a Janus Henderson-related AAA-rated CLO credit product to the fixed-rate market on Base.
Put simply, on-chain yields used to revolve mainly around stablecoins and staked assets. Now, even credit yields from traditional finance can be split into PTs and YTs, letting users trade principal and future yield.
I’ve always thought this direction has potential. As the RWA market grows, it will need more than just bringing assets on-chain—it will also need interest rate pricing and yield trading.
But don’t equate this partnership directly with a bullish signal for PENDLE.
PENDLE is currently around $1.75, basically flat over the past 24 hours, with trading volume of about $36 million, down roughly 27% from the previous day. The market has yet to show any clear confirmation through a surge in volume.
RWA credit also carries default, liquidity, and smart contract risks. Whether this new market can increase protocol fees and ultimately benefit PENDLE still needs to be validated by data.
My view: The long-term direction is worth watching, but I wouldn’t chase it for now. I’d first look for real trading volume and capital being committed before considering a reassessment.
#美国10月非农出炉：降息还有戏吗？
