Difference between revisions of "Pendle (PENDLE)"
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Pendle is a protocol that enables the trading of tokenized future yield on an [[Automated Market Makers (AMM)|AMM]] system. | |||
==Basics== | ==Basics== | ||
| Line 10: | Line 12: | ||
==History== | ==History== | ||
== Audits & Exploits == | |||
*[[Bug bounty]] program can be found [insert here]. | |||
*Scored [https://defisafety.com/app/pqrs/601 68%] on DeFi Safety (25-5-2024): | |||
''"Code and Team: Pendle scores high in code accessibility and public team transparency but did not do any changes based on initial reports.'' | |||
''Code Documentation: Comprehensive documentation is available, covering architecture and source code, aiding clarity and understanding.'' | |||
''Testing: No evidence of code testing or coverage, posing potential risks.'' | |||
''Security: Multiple audits and a substantial bug bounty program enhance security, though monitoring needs improvement.'' | |||
''[[Admin controls|Admin Controls]]: High transparency in admin controls and immutability, ensuring trust in governance."'' | |||
*[https://twitter.com/pendle_fi/status/1404423644256763906 From] their [[Twitter]] (15-6-2021) | |||
''"We take security seriously and have undergone [https://pendle.medium.com/security-update-7206b8fd5b91 multiple audits]."'' | |||
===Bugs/Hacks=== | |||
== Governance == | |||
===DAO=== | |||
* From [[Footprint Analytics]]: [https://www.footprint.network/topic/Projects/Pendle?days=past3months~&name=pendle Pendle] 's visual dashboard | |||
===Treasury=== | |||
==Token== | ==Token== | ||
===Launch=== | ===Launch=== | ||
| Line 24: | Line 52: | ||
===Implementations=== | ===Implementations=== | ||
*Built on: | *Built on: [[Compound (COMP)|Compound]] and [[Aave (AAVE)|Aave]] | ||
===How it works=== | |||
* From this [https://medium.com/coinmonks/dissecting-the-pendle-protocol-19da0eb39de8 blog] (12-7-2021): | |||
''"DeFi users who hold yield-bearing tokens from Aave and Compound can deposit them into Pendle, which in return mints ownership tokens (OT) and yield tokens (YT). Yield tokens can be immediately sold for USDC in Pendle’s AMM pools, or they can be added to the AMM pools so that token holders can earn trading fees and other incentives (stake LP token, earn $PENDLE). The value of a yield token decays as it gets closer to the expiry because claimable yield drops with time. There is an expiry because YT buyers are buying the right to access yield without owning the underlying asset. If there is no expiry, that means YT buyers have access to the yield perpetually by only paying a fixed price. There isn’t a way on the blockchain to enforce the buyers to make regular payments to the yield-bearing asset holders and hence an expiry is necessary."'' | |||
=== | ===Fees=== | ||
=== | ===Upgrades=== | ||
===Staking=== | ===Staking=== | ||
===Liquidity Mining=== | ===Liquidity Mining=== | ||
| Line 39: | Line 67: | ||
===Interoperability=== | ===Interoperability=== | ||
===Other Details=== | ===Other Details=== | ||
==Oracle Method== | ==Oracle Method== | ||
==Their Other Projects== | ==Their Other Projects== | ||
==Roadmap== | ==Roadmap== | ||
*Can be found [Insert link here]. | *Can be found [Insert link here]. | ||
==Usage== | ==Usage== | ||
===Projects that use or built on it=== | ===Projects that use or built on it=== | ||
| Line 68: | Line 78: | ||
===Pros=== | ===Pros=== | ||
===Cons=== | ===Cons=== | ||
==Team, Funding, | ==Team, Funding, Partners== | ||
===Team=== | ===Team=== | ||
| Line 74: | Line 84: | ||
===Funding=== | ===Funding=== | ||
* [[Binance]] Labs has [https://decrypt.co/153460/binance-labs-announces-investment-fixed-yield-protocol-pendle-finance announced] an undisclosed investment in Pendle Finance (23-8-2023). | |||
*[[Mechanism Capital]] [https://www.mechanism.capital/investments/ lists] them in their portfolio as of 15-5-2023. | |||
===Partners=== | ===Partners=== | ||
==(:== | ==(:== | ||
| Line 83: | Line 97: | ||
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | [[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | ||
[[Category:Coins/Tokens]] | [[Category:Coins/Tokens]] | ||
[[Category:Companies/Organisations]] | [[Category:Companies/Organisations]] | ||
Latest revision as of 02:56, 26 May 2024
Pendle is a protocol that enables the trading of tokenized future yield on an AMM system.
Basics
"Pendle is an on-chain yield asset aggregator that enables the separation and trading of future yield."
History
Audits & Exploits
- Bug bounty program can be found [insert here].
- Scored 68% on DeFi Safety (25-5-2024):
"Code and Team: Pendle scores high in code accessibility and public team transparency but did not do any changes based on initial reports.
Code Documentation: Comprehensive documentation is available, covering architecture and source code, aiding clarity and understanding.
Testing: No evidence of code testing or coverage, posing potential risks.
Security: Multiple audits and a substantial bug bounty program enhance security, though monitoring needs improvement.
Admin Controls: High transparency in admin controls and immutability, ensuring trust in governance."
"We take security seriously and have undergone multiple audits."
Bugs/Hacks
Governance
DAO
- From Footprint Analytics: Pendle 's visual dashboard
Treasury
Token
Launch
Token Allocation
Utility
Other Details
Stablecoin
Coin Distribution
Technology
- Whitepaper can be found [insert here].
- Code can be viewed [insert here].
Implementations
How it works
- From this blog (12-7-2021):
"DeFi users who hold yield-bearing tokens from Aave and Compound can deposit them into Pendle, which in return mints ownership tokens (OT) and yield tokens (YT). Yield tokens can be immediately sold for USDC in Pendle’s AMM pools, or they can be added to the AMM pools so that token holders can earn trading fees and other incentives (stake LP token, earn $PENDLE). The value of a yield token decays as it gets closer to the expiry because claimable yield drops with time. There is an expiry because YT buyers are buying the right to access yield without owning the underlying asset. If there is no expiry, that means YT buyers have access to the yield perpetually by only paying a fixed price. There isn’t a way on the blockchain to enforce the buyers to make regular payments to the yield-bearing asset holders and hence an expiry is necessary."
Fees
Upgrades
Staking
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding, Partners
Team
- Full team can be found [here].
Funding
- Binance Labs has announced an undisclosed investment in Pendle Finance (23-8-2023).
- Mechanism Capital lists them in their portfolio as of 15-5-2023.
Partners
(:
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