What is Pendle ( $PENDLE )?

Pendle is a DeFi protocol that allows users to tokenize future returns today. In this system, users deposit their yield-generating assets into Pendle's smart contracts and receive two different types of tokens in return: Ownership Token (OT Owner Token) and Future yield token (YT).

OT represents the principal asset invested itself, while YT represents the returns that this asset will produce in the future. YT holders continue to collect the asset's returns until the YT's expiration date, that is, during the period during which the returns are distributed. Additionally, users can earn extra income by adding the YT they obtain to Pendle's liquidity pools. This system gives users control and flexibility over future returns today.