WEB3
by BSCN
August 23, 2023
Binance Labs has announced an investment into Pendle Finance - a protocol designed to allow the tokenization and trading of yield.
On August 23, Binance Labs, the venture arm of the world’s largest cryptocurrency exchange, Binance, announced an investment into Pendle Finance - a DeFi protocol that tokenizes and facilitates the trading of cryptocurrency yield.
"Binance Labs is always looking for projects that are spearheading innovation in DeFi sectors that will enable access to a wider audience. Pendle Finance's focus on multi-chain expansion and innovative yield strategies align with our vision for the future of DeFi. We look forward to working closely with Pendle Finance and supporting their journey of reshaping the DeFi landscape towards a more inclusive ecosystem," commented Yi He, Co-Founder & Head of Binance Labs.
Currently, Pendle supports some 25 different pools spanning three prominent blockchain networks. Specifically, Ethereum, Arbitrum, and BNB Chain. Notably, a significant portion of these pools are Liquid Staking Derivative (LSD) pools that offer users novel ways to engage with staking rewards.
Pendle’s fixed yield products, in particular, could pave the way for more institutional capital to enter the space, with fixed yield often facilitating hedging strategies for professional firms.
According to TN, Co-Founder and CEO of Pendle Finance, "We at Pendle are on a mission to redefine how yield generation is experienced by users. Our collaboration with Binance Labs brings unparalleled expertise and resources that will catalyze our growth, ultimately driving accessibility and usability of yield opportunities across numerous venues. We are excited to embark on this journey together, propelling DeFi into a new era of inclusivity and innovation,".
Pendle Finance is a decentralized protocol that enables the tokenization and trading of future yield. As a yield derivative protocol, Pendle is bringing the TradFi interest derivative market into DeFi, making it accessible to all. Pendle Finance helps unlock the full potential of yield, enabling users to execute advanced yield strategies such as fixed yield and long yield. For more information, follow Pendle Finance on Twitter.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
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