Pendle Finance Expands to BNB Chain

Reported Coindesk, Ethereum and Arbitrum-based liquid staking derivatives (LSD) platform Pendle will expand to the BNB Chain network today as developers look to capture newer users and attract revenues for the burgeoning service.

Pendle is a DeFi protocol that enables the trading of tokenized future yield on an AMM system. Pendle aims to provide the holders of yield-generating assets with the opportunity to generate additional yield and to lock in future yield upfront, while offering traders direct exposure to future yield streams, without the need for an underlying collateral.

Pendle holds the tenth-largest TVL on Arbitrum and is the biggest RocketPool ether (rETH) holder and the third-largest wrapped staked ether (wstETH) on the network. The locked value of tokens on Pendle has grown nearly 300% since the start of this year despite a general bear market.

Related: Binance Introduces Pendle ($PENDLE) on Launchpool