Pendle
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Pendle

November + October Update

Crypto moves fast, Pendle moves faster. Here are some highlights across these exciting months.

Product Development

Avalanche

Pendle is the first yield trading protocol to join the Avalanche party!

Through this expansion, we addressed two issues with Pendle on Ethereum:

  1. Simplifying the Pe,P process (on Avalanche) for users with a 1-click wrapper, streamlining multiple steps into 1 button
  2. Ultra low cost for users to experiment different yield trading strategies!

Supported Avalanche assets:

  1. qiUSDC and qiAVAX on BENQI to speculate on lending rates.
  2. xJOE to speculate on JOE buyback yield rates.
  3. PENDLE/AVAX JLP tokens. Zap Pa,P here. Current APR: xxx%

We amassed $30m in funds locked across all pools within a week of launch!

Zap

Remember the tedious process when Pe,P? With our zap function on Avalanche, You can Pa,P with just one click. Check out the function here and zap away!

Yield Trading Campaign

Following the launch on Avalanche, we concluded the yield trading campaign that lasted for two weeks! We have given out 225k $PENDLE to ALL users that have traded YT throughout the campaign. Just in time for Christmas!

~$26mil in notional value was traded during the campaign!

Pendle Documentation

Pendle Docs had a revamp! We have improved our materials for curious minds to navigate the docs better. More contents were added in as well so take a look here!

Community

Since our launch on Avalanche, more users have boarded the ship and our community has grown tremendously!

We held a community call in November to share our progress thus far. Our community member, @fisher8intern, made a handy summary here.

We also held a giveaway with BENQI and TraderJoe. Congratulations to the lucky winners! For those who missed out, fret not, there will be more to come soon™!

Lastly, we had AMAs with BENQI and TraderJoe to introduce Pendle to the wider community!

In other news, a new channel #yield-trading-strat has been created on Discord! A few big brainers were actively involved in the channel to discuss and try different strategies without worrying about gas.

Onwards!

That’s it, folks! It has been an exciting journey thus far in 2021, and though the year is coming to an end, it is just the beginning for us.

We have heard your feedback, so stay tuned for big changes to our app updates and user interface.

As usual, we love to hear from you, especially the new users that have joined us recently! Feel free to reach out to us on our Discord server and Twitter to find out more or drop some feedback to us!

It has been an eventful year and we at Pendle thank all of you here for joining us for the ride. Here’s to more!

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The protocol to trade and hedge future yield.

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