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Pendle

Pendle exists because crypto wants to speculate. 

In Pendle’s short history, the team has constantly reiterated its yield trading product using narratives from stablecoins and infamous “DeFi 2.0” (Olympus DAO) in the 2021 bull, to liquid staking tokens, real-world assets on Arbitrum, and liquid restaking during the prolonged bear.

It wasn’t until the points meta blew up in early 2024 that Pendle struck gold, with its TVL shooting up from the multi-million to multi-billion dollar range. Pendle’s Principle Tokens (PT) and Yield Token (YT) yield mechanisms remain an…

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