Pendle

Ondo

<div class="cryptonews">
 <p class="is-style-lead">The decentralized platform Pendle Finance sees a surge in liquidity crossing the $500 million threshold on the heels of a deal with Ondo Finance.</p>
 <p>Pendle Finance’s native token PENDLE is up over 18% <a rel="noopener noreferrer nofollow" title="follow" href="https://thebittimes.com/tag/follow.html">follow</a>ing a deal with Coinbase-backed <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a> Ondo Finance, which revealed in an X post on Jan. 29 that its users can now leverage the “composability of our tokenized cash equivalents.”</p>
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    <p lang="en" dir="ltr">Welcome to the Ondo Ecosystem, @pendle_fi! We're excited to support Pendle in enabling DeFi participants with yield swaps, leveraging the composability of our tokenized cash equivalents! <br><br> Explore the Ondo Ecosystem: https://t.co/baTEYoe9EQ pic.twitter.com/88VXY6uYq6</p>— Ondo Finance (@OndoFinance) January 29, 2024
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 <p>While specific details regarding the collaboration remain undisclosed, the announcement has seemingly played a role in fostering positive sentiment within the Pendle community. According to DefiLlama data, the total value locked (TVL) in Pendle Finance set a new all-time high, nearing the $538 million mark as of Jan. 30.</p>
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   Pendle’s TVL | Source: DefiLlama
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 <p>The PENDLE token has demonstrated significant participation, with nearly $60 million in PENDLE volume recorded on Jan. 30 alone, according to available data.</p>
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   <img loading="lazy" decoding="async" width="1005" height="475" src="https://cdn.thebittimes.com/images/2024/01/30/20f4d106ad34f9efe7fbf3710e2f27e5.webp" alt="Pendle up 18% following deal with Coinbase-backed protocol - 2"> 
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 <p>Amidst this surge in activity, the PENDLE token soared to $2.66, surpassing its previous all-time high established since its launch, as indicated by CoinGecko data. However, the sustainability of this rapid growth in the long term remains to be seen.</p>
 <p>Established in 2022, Pendle Finance initially focused on the Ethereum network, providing a platform for tokenizing and trading future yields within the defi space. Later in the same year, the platform expanded its reach to other networks, including BNB Chain, Arbitrum, and Optimism.</p>
 <p>Pendle Finance’s approach allows users to tokenize and trade future yields generated by assets across various decentralized <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a>s. This feature enables users to trade these future yields as distinct tokens, apparently representing a new way to engage with and speculate on defi yields.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pendle-up-18-following-deal-with-coinbase-backed-protocol-tbt78190.html">https://thebittimes.com/pendle-up-18-following-deal-with-coinbase-backed-protocol-tbt78190.html</a></p>

Pendle up 18% following deal with Coinbase-backed protocol

TheBitTimes

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