Binance “LSDfi” related stocks newly listed

Pendle Listed

Cryptocurrency exchange Binance announced the listing of LSDfi-related stock Pendle (PENDLE) on the 3rd.

#Binance will list @pendle_fi $PENDLE in the Innovation Zone.

https://t.co/5eOUmqPfLO pic.twitter.com/uPF7ziB3ls

—Binance (@binance) July 3, 2023

Listing time is 19:00 on the 4th, offering PENDLE/BTC, PENDLE/USDT, and PENDLE/TUSD currency pairs.

Along with the new listing, Binance also conducted a PENDLE launch pool. Users stake BNB or TUSD and receive PENDLE as a reward.

yield trading

Pendle is a yield platform that can operate yield assets such as stETH and GLP separately into principal tokens and yield tokens. Fixed yields and cheap principal tokens (ETH with interest removed) are traded.

Protocols currently running on Pendle include Penpie (PNP) and Equilibria (EQB). Not only PENDLE, but also PNP and EQB surged following the listing news.

According to Binance’s recent LSDfi report, Pendle ranks third in TVL rankings in LSDfi (Liquid Staking Derivatives Economies). Also, according to DefiLlama, the current TVL is worth $127 million.

connection: The market size of DeFi “LSDfi” for liquid staking has doubled from the previous month

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