Pendle Finance organization
Overview
Pendle Finance is a DeFi protocol that tokenizes future yield, splitting a yield-bearing asset into a Principal Token (PT), redeemable for the underlying at maturity like a zero-coupon bond, and a Yield Token (YT), which entitles the holder to the yield accrued until maturity. This structure lets users lock in fixed yields, speculate on yield rates, or build structured products, traded through Pendle's purpose-built AMM. It is the largest yield-derivatives venue in DeFi by total value locked, and it operates across Ethereum and several other EVM chains. Pendle has also launched Boros, a venue for trading perpetual funding rates, and is governed via the PENDLE token.
Within the DeFi Intel graph, Pendle Finance connects to 7 tracked entities, most strongly to Ethena Labs, Penpie, Pendle V2.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 7 of 7 total).
| Relation | Connected entity | Confidence |
|---|---|---|
integrated_with | Ethena Labs | 90% |
paused_after_hack | Penpie | 90% |
developed | Pendle V2 | 90% |
integrated_with | ether.fi | 90% |
recovered_funds_after | Penpie | 85% |
co_founded | Tn Lee | 85% |
developed | Pendle Boros (V3) | 85% |
Frequently asked questions
What is Pendle Finance?
Pendle Finance is a DeFi protocol that tokenizes future yield by splitting a yield-bearing asset into a Principal Token (PT) and a Yield Token (YT), allowing users to lock in fixed yields, speculate on yield rates, or build structured products.
What chains does Pendle Finance operate on?
Pendle Finance operates across Ethereum and several other EVM chains.
What is Pendle Boros?
Pendle Boros (V3) is a venue developed by Pendle Finance for trading perpetual funding rates.