Pendle is criminally underrated. Here are 17 reasons why the market still has no idea whatβs coming nextβ¦
In no particular order:
1. Pendle Permissioned in the midst of getting established to expand potential users to regulated institutions, sovereign funds...
2. Cross-chain PTs to non-EVMS soon
3. PENDLE token being reviewed to better align long term interest of the community and the protocol. Still early for now.
4. Pendle is your favourite protocol's favourite protocol. As long as there's yield, it can be Pendled, and Pendle is the best liquidity and customer acquisition engine for new protocols with yield-bearing assets.
5. Similar to how NVIDIA doesn't care which game wins GOTY or which AI model wins, Pendle isn't betting on which narrative, which protocol will win. It profits from the entire ecosystem and everyone needing yield.
6. RWA yields are coming onchain, and Pendle as a protocol will play the most important role to enable fixed yields for these assets.
7. Pendle is building deep structural value that the market hasn't priced in. A hidden market not many know about - the $400T interest rate swap market, the biggest vertical in TradFi, bigger than lending, bigger than token swaps
8. Which means proven product-market fit, proven demand from institutional users
9. Fixed yield is the most natural entry point for institutions, it's something they're already familiar and comfortable with, Pendle will be the gateway drug for them
10. Pendle V2 + Boros = the global yield layer, the global marketplace for all things yield. Every yield on Earth can now be made tradeable with Pendle's infrasturcutre.
11. EVERYTHING in finance has yield and is denominated in rates . Term deposits, mortgages, bonds...all these make up the growth potential, the total addressable market (TAM) of Pendle
12. Yield trading has a learning curve, but it's an extremely capital efficient way for anyone to express a view. Earn like a billionaire, without needing to be one.
13. Every groundbreaking product in the last few years happened because they enabled a new class of assets to be added. Think Huobi for BTC, Binance for ICOs, Opensea for NFTs, Uniswap for tokens... and now Pendle for yield
14. Fixed yield is too important an investment product, and protocols, treasuries, funds will all route through Pendle the same way swaps route through exchanges
15. Boros lets Pendle target the largest untapped yield in crypto - funding rates, making them tradeable ($200B open interest, $300B daily volume)
16. Boros is already growing and hitting milestones 10x faster than V2, with only 3 assets (BTC, ETH, HYPE) and 2 venues (Hyperliquid and Binance)
17. HIP-3 is the cambrian explosion for perp markets including TradFi stocks, a complementary growth catalyst for Boros
Pendle is criminally underrated. Here are 17 reasons why the market still has no idea whatβs coming nextβ¦
In no particular order:
1. Pendle Permissioned in the midst of getting established to expand potential users to regulated institutions, sovereign funds...
2. Cross-chain PTs to non-EVMS soon
3. PENDLE token being reviewed to better align long term interest of the community and the protocol. Still early for now.
4. Pendle is your favourite protocol's favourite protocol. As long as there's yield, it can be Pendled, and Pendle is the best liquidity and customer acquisition engine for new protocols with yield-bearing assets.
5. Similar to how NVIDIA doesn't care which game wins GOTY or which AI model wins, Pendle isn't betting on which narrative, which protocol will win. It profits from the entire ecosystem and everyone needing yield.
6. RWA yields are coming onchain, and Pendle as a protocol will play the most important role to enable fixed yields for these assets.
7. Pendle is building deep structural value that the market hasn't priced in. A hidden market not many know about - the $400T interest rate swap market, the biggest vertical in TradFi, bigger than lending, bigger than token swaps
8. Which means proven product-market fit, proven demand from institutional users
9. Fixed yield is the most natural entry point for institutions, it's something they're already familiar and comfortable with, Pendle will be the gateway drug for them
10. Pendle V2 + Boros = the global yield layer, the global marketplace for all things yield. Every yield on Earth can now be made tradeable with Pendle's infrasturcutre.
11. EVERYTHING in finance has yield and is denominated in rates . Term deposits, mortgages, bonds...all these make up the growth potential, the total addressable market (TAM) of Pendle
12. Yield trading has a learning curve, but it's an extremely capital efficient way for anyone to express a view. Earn like a billionaire, without needing to be one.
13. Every groundbreaking product in the last few years happened because they enabled a new class of assets to be added. Think Huobi for BTC, Binance for ICOs, Opensea for NFTs, Uniswap for tokens... and now Pendle for yield
14. Fixed yield is too important an investment product, and protocols, treasuries, funds will all route through Pendle the same way swaps route through exchanges
15. Boros lets Pendle target the largest untapped yield in crypto - funding rates, making them tradeable ($200B open interest, $300B daily volume)
16. Boros is already growing and hitting milestones 10x faster than V2, with only 3 assets (BTC, ETH, HYPE) and 2 venues (Hyperliquid and Binance)
17. HIP-3 is the cambrian explosion for perp markets including TradFi stocks, a complementary growth catalyst for Boros
Happy Thanksgiving π¦
Please enjoy the time with friends and family and loved ones
I wish everyone a wonderful holiday season π
PS: year-end rally intact π
to S&P regarding your Tether rating:
We wear your loathing with pride.
The classical rating models built for legacy financial institutions, historically led private and institutional investors to invest their wealth into companies that despite being attributed investment grade ratings collapsed pushing worldwide regulators to challenge such models, the independence and objective assessment of all major rating agencies.
The traditional finance propaganda machine is growing worried when any company tries to defy the force of gravity of the broken financial system. No company should dare to decouple itself from it.
Tether instead built the first overcapitalized company in the financial industry, with no toxic reserves. And yet is and remains extremely profitable. Tether is living proof that the traditional financial system is so broken that it's becoming feared by the emperors with no clothes.