Pendle’s TVL Reaches Record $8.27 Billion Following Boros Platform Launch
Pendle's total value locked (TVL) reached a record $8.27 billion. Its native token, PENDLE, increased by 45% to $5.6 due to the launch of its new yield-trading platform, Boros.
- Bitcoin funding rates are averaging 10% annualized this week with $80 billion in open interest.
- Boros packages yields into tradable on-chain assets called Yield Units (YUs).
- In its first two days, Boros attracted deposits of over 283 WETH (approximately $1.1 million) and 6.4 WBTC (about $750,000).
- Active addresses on Pendle’s Arbitrum deployment rose to 1,428, exceeding the monthly average.
- Boros currently supports BTC and ETH funding rates, with plans to include other floating yields.
- Pendle's performance is bolstered by integration with the Hyperliquid ecosystem, which has seen kHYPE attract $221 million in TVL.
- PENDLE outperformed the broader cryptocurrency market, as indicated by the CoinDesk 20 index, which rose 13.15% over the same period.