UNCHAINED: Pendle Ripped in Early 2024, But Usage Has Slowed Down. Can It Recover?

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4.7 • 698 Ratings

🗓️ 23 August 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Pendle Finance saw massive growth earlier this year but has recently faced a significant drop in TVL. How will it bounce back? 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: What Pendle is, how the idea for it was born, and how it works Why Pendle has exploded this year, even though it launched years ago Whether Pendle is an app for sophisticated traders and the most common strategies in the protocol How users are able to leverage their earned points in several protocols Besides market risks, what the risks are of trading in Pendle and how they try to mitigate them Pendle’s recent significant drop in TVL and plans to recover If the points narrative ends, will Pendle remain relevant? 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 Guest: TN Lee, Founder of Pendle Finance Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Thanks for listening to Unchained, your no-hype resource for all things crypto, on the CoinDesk Podcast Network.
0:06.5	You can also listen to the episodes on the Unchained feed earlier if you subscribe there.
0:11.7	Plus, check out all our content on our website, Unchained Crypto.com.
0:16.4	What we have to focus on at the moment is how we can regain the market share. Because
0:21.3	losing billions of dollars in TVL in a short period of time, no matter how predictable it was,
0:27.7	doesn't feel good.
0:33.3	Hi, everyone. Welcome to Unchained, your no-hype resource for all things crypto. I'm your host,
0:37.9	Laura Shin, author of The Cryptobians. I started covering crypto nine years ago, and as a senior editor,
0:43.6	Forbes, was the first matrimator-porter to cover cryptocurrency full-time. This is the August 23rd,
0:48.7	2024 episode of Unchained. With I-Trust Capital, you can buy and sell crypto in a tax advantage retirement account.
0:56.0	Enjoy significant tax advantages, 24-7 access, and the industry's lowest fees.
1:01.9	Pocod is the original and leading layer zero blockchain with over 2,000 plus developers,
1:07.1	and the Pocodot 2.0 upgrade will be a massive accelerator for the ecosystem.
1:11.7	Join the community at PogoDot.network slash ecosystem slash community.
1:17.5	Get ready for the world's largest crypto event, Token 2049 Singapore, from September 18th to 19th.
1:24.8	Join over 300 speakers and 20,000 attendees. Visit token249.com for 15% off with
1:32.0	code unchained. Today's guest is Tien Lee, the founder of Pendle Finance. Welcome, Tien. Yeah,
1:40.0	thanks for having me. Pendle's been around since 2020, but it exploded earlier this year to a total value
1:47.5	locked of almost $7 billion.
1:50.1	What is Pendle and how did you come up with the idea for it?
1:53.2	Pendle is a protocol for the tokenization and the trading of yield.
1:58.4	Simply put, I think it allows for APYs to be traded to people with different
	...

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