Pendle Finance, an innovative protocol that lets users trade yield, surged in popularity earlier this year but is now grappling with a downturn in usage.

In this episode, founder TN Lee shares insights into Pendle's approach, the factors behind its recent success, and the challenges it faces in recovering user engagement and TVL. Plus, since Pendle’s rise was driven by the points narrative, TN talks about how the protocol can keep growing.

Show highlights:

00:00 Intro
01:24 What Pendle is, how the idea for it was born, and how it works
05:06 Why Pendle has exploded this year, even though it launched years ago
12:01 Whether Pendle is an app for sophisticated traders and the most common strategies in the protocol
15:46 How users are able to leverage their earned points in several protocols
19:20 Besides market risks, what the risks are of trading in Pendle and how they try to mitigate them
20:57 Pendle’s recent significant drop in TVL and plans to recover
24:13 If the points narrative ends, will Pendle remain relevant?
27:31 Crypto News Recap

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Guestl

TN Lee, Founder of Pendle Finance

Links

Previous coverage of Unchained on Pendle: DeFi Protocol Pendle Reaches All-Time High as Total Value Locked Tops $5.78 Billion

Background Information on Pendle

Introduction
Glossary
Minting
Advanced Yield Trading Strategies
vePENDLE
DeSpread Research report (Sept 2023)
Cointelegraph Research: Deciphering Pendle Finance’s surge

Others:

Crypto News: Major Changes Ahead: Pendle Ends Earn UI, Focuses on V3
Pendle reached its second largest maturity event on July 25
DeFi Llama: Pendle’s TVL

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Pendle Ripped in Early 2024, But Usage Has Slowed Down. Can It Recover? - Ep. 693 40:30 Share

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Pendle Ripped in Early 2024, But Usage Has Slowed Down. Can It Recover? - Ep. 693