Pendle Finance has smashed past $8 billion in total value locked, marking its highest level to date, as traders flock to its newly launched yield marketplace, Boros.
The project’s native token, PENDLE, has surged 45% over the last week to $5.60, far outpacing broader market gains.
Boros introduces a new way to speculate on or hedge against crypto funding rates by packaging them into on-chain assets called Yield Units (YUs). These can be used to lock in attractive fixed yields, protect against floating-rate volatility, or take directional bets on future rates.
The launch couldn’t have come at a more opportune time. With Bitcoin funding rates averaging around 10% annualized and $80 billion in open interest, more than $8 billion is exchanged annually between leveraged longs and shorts. Boros is tapping into this massive flow, giving traders a direct way to capture or hedge these returns.
In just its first 48 hours, Boros attracted over $1.85 million in BTC and ETH deposits. Activity on Pendle’s Arbitrum deployment has also jumped sharply, with active addresses surging to more than double their monthly average, according to TheTie.
Initially limited to BTC and ETH funding rates, Boros aims to expand into staking rewards and tokenized Treasury bill yields. The growth also follows Pendle’s integration with Hyperliquid, where the largest liquid staking token on its HyperEVM—kHYPE—has already drawn $221 million in TVL.
With PENDLE’s rally leaving the CoinDesk 20’s 13% weekly gain in the dust, momentum appears firmly on the project’s side as it cements its position at the forefront of on-chain yield trading.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/pendle-hits-record-tvl-as-new-yield-trading-platform-gains-traction/