BTCFi has seen remarkable growth on Pendle Finance since its first pool launched just over a month ago.
With a total value locked (TVL) now surpassing $580 million, Pendle has quickly expanded to offer nine pools across Ethereum and the BNB Chain, catering to a variety of BTC-backed assets.
Two standout assets have captured significant attention on Pendle: SolvBTC.BBN from Solv Protocol and LBTC by Lombard Finance. These assets have attracted the highest TVL on the platform, highlighting strong user interest and confidence in the BTCFi ecosystem on Pendle.
Pendle offers users flexibility with their BTC assets, allowing them to choose between steady and high-yield strategies. For those preferring a safer approach, users can earn a fixed annual percentage yield (APY) of up to 7%, providing a reliable income stream. Alternatively, users looking for higher returns can participate in liquidity pools (LPs) with APYs reaching up to 32%. By providing liquidity, users can also accumulate points from a range of supported protocols on Pendle, further enhancing their earnings potential.
🍊#BTCFi on Pendle
Since their first BTCFi pool over a month ago, BTCFi on @pendle_fi has seen significant growth. With a current TVL exceeding $580 million, Pendle has expanded its offerings to include 9 pools across Ethereum and the BNB Chain.
SolvBTC.BBN by @SolvProtocol… pic.twitter.com/joKLAzpC6g
— Bitcoin Ecosystem (@BitcoinEcoTK) October 26, 2024
With its innovative offerings and rapid adoption, Pendle is establishing itself as a prominent player in the DeFi landscape for BTC-based assets. As more users flock to the platform, BTCFi’s growth on Pendle signals a strong future for decentralized finance solutions that combine flexibility, security, and high yield options.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.