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Pendle Finance attracts billions with new crypto twist on suppressing yields
One of the hottest projects in decentralized finance involves attracting billions of dollars by combining a long-standing strategy bond market maneuver with one of the most popular crypto marketing strategies of this year.
The project, Pendle Finance, splits yield-producing cryptocurrencies into two tokens, in the same way that removing principal and interest payments has been a pillarBloomberg Terminal in the bond market for more than half a century. Until recently, the total value locked or staked on the app had remained below $250 million since its launch in 2020, despite the high yields of 30% or more offered on many discounted tokens, according to the data tracker. DeFiLlama.