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Binance Labs Invests in Pendle Finance, a Permissionless Yield-Trading Protocol

Published

8 months ago

on

Binance

Binance Labs, today announces the investment in Pendle Finance, a permissionless yield-trading protocol. It allows users to execute various yield-management strategies.

It is a yield derivative protocol that enables users to execute advanced yield strategies, bringing the TradFi interest derivative market to DeFi.

Yi He, Co-Founder & Head of Binance Labs, says “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,”

While TN, Co-Founder and CEO of Pendle Finance, commented “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,”

Currently, Pendle Finance supports 25 different pools on three prominent blockchains i.e. Ethereum, Arbitrum, and BNB Chain.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.