Pendle Ripped in Early 2024, But Usage Has Slowed Down. Can It Recover? - Ep. 693

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 23 August 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Pendle Finance, an innovative protocol that lets users trade yield, surged in popularity earlier this year but is now grappling with a downturn in usage. In this episode, founder TN Lee shares insights into Pendle's approach, the factors behind its recent success, and the challenges it faces in recovering user engagement and TVL. Plus, since Pendle’s rise was driven by the points narrative, TN talks about how the protocol can keep growing. Show highlights: 00:00 Intro 01:24 What Pendle is, how the idea for it was born, and how it works 05:06 Why Pendle has exploded this year, even though it launched years ago 12:01 Whether Pendle is an app for sophisticated traders and the most common strategies in the protocol 15:46 How users are able to leverage their earned points in several protocols 19:20 Besides market risks, what the risks are of trading in Pendle and how they try to mitigate them 20:57 Pendle’s recent significant drop in TVL and plans to recover 24:13 If the points narrative ends, will Pendle remain relevant? 27:31 Crypto News Recap Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! iTrustCapital Polkadot Token 2049 Guestl TN Lee, Founder of Pendle Finance Links Previous coverage of Unchained on Pendle: DeFi Protocol Pendle Reaches All-Time High as Total Value Locked Tops $5.78 Billion Background Information on Pendle Introduction Glossary Minting Advanced Yield Trading Strategies vePENDLE DeSpread Research report (Sept 2023) Cointelegraph Research: Deciphering Pendle Finance’s surge Others: Crypto News: Major Changes Ahead: Pendle Ends Earn UI, Focuses on V3 Pendle reached its second largest maturity event on July 25 DeFi Llama: Pendle’s TVL Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	What we have to focus on at the moment is how we can regain the market share because
0:04.9	losing billions of dollars in TVL in a short period of time no matter how
0:09.4	predictable it was doesn't feel good. Hi everyone, welcome to Unchained, you know high resource for all things crypto.
0:20.0	I'm your host Laura Shin, author of The Cryptobians. I started covering crypto nine years ago
0:25.5	and as a senior editor Forbes was the first matrimatur part of the
0:29.0	cryptocurrency full-time. This is the August 23rd, 2024 episode of Unchained.
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1:18.2	Today's guest is Tian Lee, the founder of Pendle Finance.
1:21.4	Welcome, Tian. Yeah, thanks for having me.
1:24.4	Pendle's been around since 2020, but it exploded earlier this year to a total value
1:30.7	locked of almost seven billion dollars. What is Pendle and how did you come
1:34.9	over the idea for it?
1:36.2	Pendle is a protocol for the tokenization and the trading of yield. Simply put I think
1:42.2	it allows for APY's to be traded to people with different
	...

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