Pendle Ripped in Early 2024, But Usage Has Slowed Down. Can It Recover? - Ep. 693

Unchained

Pendle Finance, an innovative protocol that lets users trade yield, surged in popularity earlier this year but is now grappling with a downturn in usage.

In this episode, founder TN Lee shares insights into Pendle's approach, the factors behind its recent success, and the challenges it faces in recovering user engagement and TVL. Plus, since Pendle’s rise was driven by the points narrative, TN talks about how the protocol can keep growing.

Show highlights:

• 00:00 Intro
• 01:24 What Pendle is, how the idea for it was born, and how it works
• 05:06 Why Pendle has exploded this year, even though it launched years ago
• 12:01 Whether Pendle is an app for sophisticated traders and the most common strategies in the protocol
• 15:46 How users are able to leverage their earned points in several protocols
• 19:20 Besides market risks, what the risks are of trading in Pendle and how they try to mitigate them
• 20:57 Pendle’s recent significant drop in TVL and plans to recover
• 24:13 If the points narrative ends, will Pendle remain relevant?
• 27:31 Crypto News Recap

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Thank you to our sponsors!

• iTrustCapital
• Polkadot
• Token 2049

Guestl

• TN Lee, Founder of Pendle Finance

Links

• Previous coverage of Unchained on Pendle: DeFi Protocol Pendle Reaches All-Time High as Total Value Locked Tops $5.78 Billion

Background Information on Pendle

• Introduction
• Glossary
• Minting
• Advanced Yield Trading Strategies
• vePENDLE
• DeSpread Research report (Sept 2023)
• Cointelegraph Research: Deciphering Pendle Finance’s surge

Others:

• Crypto News: Major Changes Ahead: Pendle Ends Earn UI, Focuses on V3
• Pendle reached its second largest maturity event on July 25
• DeFi Llama: Pendle’s TVL

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