Penpie, a prominent DeFi platform, has partnered with the EVM-compatible L1 chain Sonic. According to Penpie, it is expanding its reach to Sonic to optimize yield opportunities and facilitate decentralized finance (DeFi) users. The mutual endeavor leverages Pendle Finance’s vePENDLE strategy to control more than thirty-two percent of the cumulative power. The respective integration offers seamless access to Pendle’s offerings. Overall, Penpie’s expansion focuses on increasing accessibility parallel to boosting long-term innovation and growth.
Penpie to Unveil Latest Yield Opportunities
Penpie is expanding to Sonic signifies a landmark move in Penpie’s endeavor to enhance yield opportunities. The platform utilizes Pendle Finance’s exclusive vePENDLE strategy to control above 32% of the overall voting power. The respective integration delivers seamless access to the offerings provided by Pendle. As a result of this, the Sonic users can leverage improved yield opportunities. In this respect, they do not need to lock up the $PENDLE tokens in their possession.
The official launch of Penpie on Sonic goes beyond just expanding accessibility. It also focuses on driving long-term ecosystem growth as well as innovation. In this respect, Penpie is unveiling liquidity pools that provide comprehensive yield. In addition to this, it is also optimizing the wider governance strategies. With these functionalities, the platform is poised to improve the DeFi experience of the users on Sonic.
Driving Yield Optimization and Governance Participation
According to Penpie, as included in its Sonic expansion plan, has launched up to 4 yield-generating pools. They include wstkscUSD Pool, wstkscETHpool, stS Pool, and wOS Pool. This expansion strategy underscores the commencement of a thrilling venture for both entities. By incorporating the scalable infrastructure of Sonic, Penpie endeavors to deliver additional opportunities concerning governance participation and yield optimization.
Source: https://blockchainreporter.net/penpie-to-unlock-exclusive-defi-opportunities-with-expansion-to-sonic/