DeFi Update: Pendle Achieves All-Time High TVL of $8.3B Following Launch of Yield-Trading Platform
Sure! Here’s the rephrased content with the requested changes:
<img src="https://cdn.sanity.io/images/s3y3vcno/production/0fda186e57eed31cfc280d2fe680adfc47aaecde-1920x1280.jpg?auto=format&w=1920&h=1080&crop=focalpoint&fit=clip" /><br>Pendle's total value locked (TVL) has surged to a record $8.27 billion, while its native token PENDLE climbed 45% over the past week to $5.6, driven by the launch of the protocol's new yield-trading platform. With bitcoin funding rates averaging about 10% annualized this week and approximately $80 billion in open interest, according to Dune data, more than $8 billion changes hands annually between longs and shorts.
Boros packages these yields into tradable on-chain assets called Yield Units (YUs), enabling traders to go long or short on the rates themselves. Boros supports various advanced strategies, such as converting floating funding payments into fixed rates or securing high yields during volatile periods.
In its first two days, Boros attracted deposits exceeding 283 WETH (around $1.1 million) and 6.4 WBTC (approximately $750,000) into its vaults. Activity on Pendle's Arbitrum deployment has spiked alongside the launch, with active addresses reaching 1,428, significantly surpassing the monthly average, and both buyers and sellers increasing on decentralized exchanges according to data from TheTie.
Currently, Boros supports BTC and ETH funding rates, with future plans to expand into other floating yields like staking rewards and tokenized Treasury bills. Pendle's performance and total value locked have also been bolstered by its integration with the Hyperliquid ecosystem. Since this partnership, Kinetiq's kHYPE, the leading liquid staking token on Hyperliquid’s HyperEVM, has garnered $221 million in total value locked. Over the past week, the PENDLE token has shown remarkable performance compared to the broader cryptocurrency market, as measured by the CoinDesk 20 (CD20) index, which increased by 13.15% during this timeframe.
