Cheese (🧀,🧀)

[Pendle @pendle_fi]

Half-time is over for 2026, but there's plenty of game left.

Institutional desks are coming onchain, and Pendle intends to stay their primary distributor for RWAs.

As @tn_pendle put it, a gap still sits between what a treasury desk is comfortable with and what a permissionless protocol like Pendle offers out of the box.

Work's already underway to close that gap but until then, job's not done 🫡

[Boros @boros_fi]

Hyperliquid markets are now LIVE on Boros!

Trade, speculate or hedge @HyperliquidX's BTCUSD and ETHUSD funding rates:

[TN | PendleBoros @tn_pendle]

$10B TVL.

A milestone years in the making for @pendle_fi.

From a niche experiment to a cornerstone of DeFi, and it’s all thanks to you, our community, our Pendies.

This isn’t the finish line. It’s proof of what’s possible when conviction compounds, just like yield.

Job's not done. Higher!

[Boros @boros_fi]

Introducing Boros, Pendle’s new platform for trading funding rates

🔗 https://t.co/YAuMXhrGe2

[TN | PendleBoros @tn_pendle]

Pendle 2025: Zenith

In this post, I've outlined the highlights for Pendle V2 in 2024, our future roadmap for the 3 pillars of Pendle - V2, Citadels and Boros, as well as The End Game.

Job's not done - but it'll be.

[Pendle @pendle_fi]

Introducing Boros by Pendle: Yield Trading with Margin

Based on the ancient Greek word meaning “to eat”, Boros is Pendle’s newest platform. Developed from scratch in our conquest to consume every yield in the world, both onchain and offchain, starting with funding rates.

Of Boros, tokenomics and more, check out https://t.co/Uor9agjEHL

[Pendle @pendle_fi]

PTs can now be rolled over to any Pendle LPs and vice versa

Managing matured positions is now easier and more seamless than ever - right in time for the 26 Sep maturity 🏄🏻‍♀️

[Pendle @pendle_fi]

Post Mortem

For context - Squarespace purchased all domain registrations and related customer accounts from Google Domains in June 2023, which forced the migration of domains.

Recently, attackers exploited a vulnerability in Squarespace, hijacking domains hosted on their platform. Security experts are still working out the exact mechanism for the hijacking attacks, but many domains (including Pendle’s) that were migrated from Google to Squarespace have been affected.

Due to ICANN’s domain transfer policies, domain transfer away from Squarespace was not an option for another ~20 days.

----------

Upon learning of Squarespace's issue affecting some projects at ~12pm GMT yesterday, our team was on high alert and started a series of countermeasures to defend against a potential attack.

We got in touch with affected projects like @CelerNetwork, got valuable information on how it happened for them, and toughened up our defense accordingly. We set up real-time bots to alert us of any DNS changes which signal a hijack event. We were also prepared to immediately shutdown the app if necessary.

At ~10.27pm GMT, our bot detected that a new malicious DNS record was added to redirect Pendle’s dApp to a malicious site. Within 30 seconds, the team mobilised to shut down the app and started our countermeasures to defend against the attack.

At ~11.07pm GMT, just 40 minutes after the domain hijack attempt, our dev team successfully regained full control of the domain, and had taken all necessary steps to ensure normal operations were restored.

Throughout this incident, we maintained constant, active communication with security professionals to mitigate the situation. We would like to extend a shoutout to @no89thkey, @samczsun, @tayvano_, Junda and a special mention to @AndrewMohawk for their invaluable assistance.

Pendle protocol and smart contracts remain unaffected, and funds are safe.

At Pendle, security is our top priority. We remain vigilant in ensuring our security protocols are in place to best protect users

[Pendle @pendle_fi]

GM Pendies, just 2 weeks ago, Pendle reached our largest maturity event on 26 June, with $3 billion in value maturing.

Within a week, Pendle successfully facilitated $2.7 billion in redemptions, successfully passing the largest stress test of its mechanism to-date 🚀

Some other fun facts 👇🏻

[Pendle Intern @PendleIntern]

Symbiotic x Mellow x Pendle YTs 🍡

Projected ROI = 113%-145%
Projected APR = 1538%-1961%

Before you ape in with no regards, please understand that these numbers were conceived between an intense gym session and lunch on an empty stomach.

In other words, there is no world where these should ever be construed as financial advice.

Lots of assumptions were made, so please DYOR and take the time to understand them 👇🏻

@symbioticfi Point

• Symbiotic Points are NOT being accrued by YTs at the moment, not until a cap increase by Symbiotic is able to accommodate them. For now, assumption is that you'll only be getting Symbiotic points for ~50% of the days (from now until maturity)

• Current points are derived based on Daily TVL record from @DefiLlama, multiplied by the base rate of Symbiotic Points (0.00025 point/day per $)

• Daily Points Growth have a 10x multiplier, meaning the number shown here is 10x more than the current estimated rate. In other words, numbers are more conservative.

• FDV of $10B assumed + 5% airdrop allocation + snapshot on 30 Sep 2024

@mellowprotocol Points

• Mellow LRTs are earning 3x boosted rate at the moment on @pendle_fi. Once SYMBIOTIC caps are lifted, this reverts to 2x boosted rate (for Pendle only). Assumption here is that you'll get the boosted 3x rate for 50% of the days only.

• Daily Points Growth also have a 10x multiplier, meaning the number shown here is 10x more than the current estimated rate. In other words, numbers are more conservative.

• FDV of $750M assumed + 5% airdrop allocation + snapshot on 30 Sep 2024

Remember - Mellow YTs have no yield and are points only. ROI is estimated based on these assumptions and numbers, which may or may not be correct. How much are points worth? Are they enough to recover your YT costs? No one knows for sure, please DYOR and of course, NFA 🫡

[Pendle @pendle_fi]

A number of pools are approaching maturity on 25 April, 00:00 UTC:

1. @ether_fi eETH on Arbitrum
2. @KelpDAO rsETH on Arbitrum
3. @SiloFinance sETH (PT-eETH Silo) on Arbitrum
4. @renzoai ezETH on Ethereum
5. @ethena sUSDe on Ethereum

Here's all that you need to know to prepare for this 👇🏻

[TN | PendleBoros @tn_pendle]

We're looking for new analysts to join @pendle_fi!

1.⁠ ⁠Research analyst - https://t.co/XUqsh0Rg3C

2. Data analyst - https://t.co/t6ojwyYPRF

If you like crypto and enjoy driving meaningful, data-driven decisions, click on the links to help us shape the future of DeFi 🤝

[Dan @DDangleDan]

5000 ETH -> 4849 weETH -> 5159 PT-eETH.

That's 159 ETH absonuts return in 30 days.

Tho underlying weETH liquidity is not enough on Arbitrum to settle that size, gotta go wrap on ETH first and bridge to Arbitrum.

[Cheese (🧀,🧀) @Mozzarella_99]

@EthereumThaila1 @pendle_fi actually it's more than 17%, he had a few losses before the trading comp starts, which won't be included in the comp.

[Cheese (🧀,🧀) @Mozzarella_99]

@EthereumThaila1 @pendle_fi Rank 1 did make around 17% from his YT position tho, with pretty substantial size

[Cheese (🧀,🧀) @Mozzarella_99]

@holksbeast @Defi_Maestro @ethena_labs The 185x from YT is not free shards spawning out of nowhere. Purchasing YT is literally purchasing shards from someone (PT holders) who forego their shards for a fixed amount of money, thus creating a free market for shards. Definitely not unfair to other farmers

[TN | PendleBoros @tn_pendle]

$2 billion TVL 🥳

@pendle_fi is now officially the largest "Yield" protocol according to @Defillama, and a Top 15 DeFi protocol by TVL!

Thank you again to all the Pendies who helped make this possible 🫡

P.S. Triple launch week has been fun, same time next week?

[Covenant @covenantFi]

Perpetual DEXs transformed the industry. We believe Perpetual Debt will do the same. Excited to finally release Covenant’s Whitepaper: Tradeable Perpetual Debt. https://t.co/TCEysclVeb

[TN | PendleBoros @tn_pendle]

$400M trading volume to end the year 2023 🎆

2023 had been a pretty good year for @pendle_fi, but 2024 is going to be an even more exciting one, filled with new innovations, developments, growth, and even memes 😉

Happy New Year and cheers to a new beginning!