Pendle v2 Overview: Driving Pendle to Become a Key Part of DeFi Infrastructure

Pendle v2 Overview: Making Pendle a DeFi Infrastructure Key Player

Pendle facilitates a new yield exchange market by splitting the income asset (i.e. stETH) into principal tokens (PT) and yield tokens (YT). Ken Chia, a member of the Pendle team, briefly introduces the goals of Pendle v2.

The Pendle team has continuously released updates in the past cycle, with the most important being their v2 AMM launched in November 2022. Pendle’s v2 AMM, launched in November 2022, concentrates liquidity within a narrow yield range; is a professional and customizable fund pool applicable to all yield assets; and LP’s IL can be ignored. Subsequently, the protocol and institutional adoption rates skyrocketed, leading to a 20-fold increase in TVL and trading volume since the launch of v2. Our goal is to make Pendle a key component of the DeFi infrastructure stack – creating truly DeFi-native yield curves and providing new use cases such as hedging cross-term cash flows, while creating new markets and opportunities for trade.


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