Pendle is a permissionless DeFi yield-trading protocol, currently built on the Ethereum blockchain, where users can execute various yield management strategies.
Pendle allows you to sell the future yield of yield-bearing assets, essentially allowing you to bet on either the yield of the asset rising or falling, and creating strategies around the asset.
The project sounds great at a glance, as you are able to buy assets at a discount with a defined "vesting" period, however the lack of details of the on-chain metrics such as revenue and distribution to $PENDLE holders. As the fees generated from swaps of their tokens are based on time to maturity, it is nearly impossible to calculate the revenue and fee generated, and base it as a comparison with other yield-bearing projects for valuation on if it is over or undervalued.
The project has also been gaining traction on twitter the past year, and it seems like a good platform for generating extra yield on LSDs at the moment. Show Less
