Buy Pendle
What is Pendle?
Pendle is a decentralised finance (DeFi) protocol that focuses on yield trading. It enables users to tokenise and trade yield-bearing assets, allowing them to either lock in fixed yields or speculate on yield changes. By utilising yield tokenisation, Pendle separates yield-bearing assets into Principal Tokens (PT) and Yield Tokens (YT), which facilitates liquidity unlocking and enhanced capital efficiency.
How does Pendle work?
Pendle operates on the Ethereum blockchain, leveraging smart contracts to manage transactions and yield tokenisation. Users deposit yield-bearing assets, which are divided into Principal Tokens (PT) and Yield Tokens (YT). These tokens can be traded, allowing users to fix their yield by selling YT for upfront returns or to speculate on future yield changes. Pendle uses a specialised Automated Market Maker (AMM) designed for time-decaying assets, ensuring accurate pricing and reducing the risk of liquidity drain from arbitrage.
What are the potential use cases for Pendle?
Potential use cases for Pendle include:
- Fixed Income for Investors: Investors can secure stable yields by locking in current rates through the sale of Yield Tokens.
- Yield Speculation for Traders: Traders can speculate on future yield rates by trading Yield Tokens.
- Yield Hedging for Risk Management: Users can hedge against yield volatility by selling Yield Tokens while maintaining the principal ownership.
- Enhanced Liquidity Provision: By tokenising yields and employing AMM, Pendle users can optimise yield and liquidity provision.
What is the history of Pendle?
Pendle was launched in June 2021 by a team including founder and CEO TN Lee. Initially, it faced challenges with adoption and system operations. However, the launch of Pendle V2 in December 2022 marked a significant improvement, leading to a substantial increase in total value locked (TVL) and trading volume. Pendle has secured $3.7 million in funding and has expanded its operations to Ethereum Layer 2 networks, such as Arbitrum. Its development has been supported by novel AMM solutions and strategic partnerships with platforms like Amber Group and Lido Finance.
Related Assets
Resources
Learn More About Pendle
Frequently Asked Questions (FAQs)
What is the current price of Pendle (PENDLE)?
The Pendle price is $8.5744 AUD, representing a +24.29% from the day prior.
Where is the best place to buy Pendle (PENDLE) in Australia?
The best place to buy Pendle (PENDLE) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Pendle (PENDLE) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Pendle (PENDLE)?
The trading volume of Pendle (PENDLE) is $268.7M AUD in the last 24hrs, representing a +24.29% from the day prior.
How can I buy Pendle (PENDLE)?
Pendle (PENDLE) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Pendle (PENDLE)?
The current market cap of Pendle (PENDLE) is $1.4B AUD.
Can I convert Pendle (PENDLE) to cash?
Yes - With Coinstash you can convert your Pendle (PENDLE) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Pendle (PENDLE) are there?
The current circulating supply of Pendle (PENDLE) is 164.1M.
Is Coinstash a safe place to buy Pendle (PENDLE) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Pendle (PENDLE) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.