Since mainnet in June 2021, the total value locked has reached $19M and its market value has been range bound between $20M to $50M. The fluctuation in market value on the backdrop of growing TVL has pushed Pendle’s trading volume to be over $100M in less than one year.
Pendle (PENDLE) crypto asset is now listed on INDODAX on the BEP-20 network.
Interested in Pendle (PENDLE) and how to buy it? Learn more before investing by reading below!
About Pendle (PENDLE)
Pendle was initially deployed on Ethereum and provides a market for the yields of supported yield-bearing tokens.
Pendle facilitates this market by splitting yield-bearing tokens into principal tokens and yield tokens, and by offering liquidity pools through which these tokens can be traded.
By doing so, Pendle offers a market for fixed and floating rates of supported yield-bearing tokens, enabling users to earn fixed yields, long yields (e.g. speculate on the underlying token’s yield increasing), and provide liquidity to the Pendle pool for the underlying token.
For more information, visit the official website of Pendle (PENDLE) at https://www.pendle.finance/
Challenges, Opportunities, and Utilities
Pendle addresses the problem of the immature DeFi ecosystem where the market and trader participation options are still relatively narrow.
By enabling the tokenized trading of future yields through splitting tokens into ownership and yield tokens, Pendle significantly expands the size of the yield market. This opens up opportunities for market participants to not only utilize current yields, but also participate in predicting and trading future interest rate movements.
In doing so, Pendle is able to deepen and integrate the yield market in DeFi, while providing more options for traders to participate. Ultimately, this is expected to accelerate the overall maturation of the DeFi ecosystem.
In its development, PENDLE’s advantages include:
- The Pendle token enables users to generate additional yields and lock future yields through tokenization of future yields.
- The Pendle token provides a market for fixed and floating rates of yield-bearing tokens.
- The Pendle token facilitates trading of future yields by splitting tokens into ownership and yield tokens.
Apart from that, PENDLE also has several uses, including:
- Users can earn fixed yields from yield tokens.
- Users can predict and participate in trading future increases in underlying tokens’ yields.
- Users can provide liquidity in the Pendle pool to earn incentives.
- It enables expression of market views on future interest rate movements.
Founder and Investor of Pendle (PENDLE)
Pendle was co-founded by TN Lee, Vu Nguyen, GT, and YK and was first introduced by its former name, Benchmark, in November 2020 as “an on-chain yield asset aggregator enabling the separation and trading of future yield.
With fundraising of $17,140,000, PENDLE is backed by investors and venture capitals such as Binance Labs, Arbitrum Foundation, The Spartan Group, etc.
Crypto Asset Ranking Information
As of April 29, 2024, the CoinMarketCap ranking of Pendle (PENDLE) is #69, with a market cap of USD 1,278,237,856. It has a circulating supply of 239,185,588 PENDLE and a maximum supply of 258,446,028 PENDLE.
How to Buy Pendle (PENDLE) on INDODAX
Now that you’ve discovered more about Pendle (PENDLE), you can start investing in Pendle (PENDLE) easily and securely on INDODAX.
You can access INDODAX via the INDODAX Mobile App, which can be downloaded from the App Store or Google Play Store, or by visiting the INDODAX website.
To buy Pendle (PENDLE) crypto asset on INDODAX, follow the steps below:
- Register on INDODAX if you are not yet an INDODAX Member or login to your INDODAX account
- Then, deposit by reading how to make a deposit below
- After making a successful deposit and the balance has been credited to your INDODAX account, visit the INDODAX market
- Search for PENDLE in the IDR market, and click to visit the crypto asset page
- On the crypto asset page, enter the balance and desired PENDLE purchase price, or buy instantly at the current price
- Next, you should wait for the price to increase for some time
- Once the price increases, your assets can be sold at a higher price with the Instant method
- If you use the Limit method to sell, make sure to place a sell order after purchasing the asset and enter a higher sell number
INDODAX also offers other features than trading, such as INDODAX Earn which allows you to lock crypto assets and earn interest rewards, and INDODAX OTC for large crypto transactions in a more personalized and secure way.
Let’s invest in Pendle (PENDLE) on INDODAX now!
