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===
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===Implementations===
===Implementations===


*Built on:
*Built on: [[Compound (COMP)|Compound]] and [[Aave (AAVE)|Aave]]
*Programming language used:
 
===How it works===


====Transaction Details====
* From this [https://medium.com/coinmonks/dissecting-the-pendle-protocol-19da0eb39de8 blog] (12-7-2021):


*Capacity ([[TPS]]):
''"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."''
*[[Latency]]:


===How it works===
===Fees===
===Mining===
===Upgrades===
===Staking===
===Staking===
===Liquidity Mining===
===Liquidity Mining===
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===Interoperability===
===Interoperability===
===Other Details===
===Other Details===
==Privacy Method==
==Compliance==
==Oracle Method==
==Oracle Method==
==Their Other Projects==
==Their Other Projects==
==Governance==
===DAO===
* From [[Footprint Analytics]]: [https://www.footprint.network/topic/Projects/Pendle?days=past3months~&name=pendle Pendle] 's visual dashboard
===Treasury===
==Upgrades==
==Roadmap==
==Roadmap==


*Can be found [Insert link here].
*Can be found [Insert link here].
==Audits==
*[[bug bounty|Bug bounty]] program can be found [insert here].
*[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===
==Usage==
==Usage==
===Projects that use or built on it===
===Projects that use or built on it===
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===Pros===
===Pros===
===Cons===
===Cons===
==Team, Funding, Partnerships, etc.==
==Team, Funding, Partners==
===Team===
===Team===


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===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===
==(:==
==(:==
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[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
Also check out [https://cointr.ee/zeb CoinTr.ee] for more content.
[[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

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

Partners

(:

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