In mid-June 2023, Pendle surpassed the $100 million Total Value Locked (TVL) milestone. As per data from DeFiLlama, Pendle, a decentralized finance (DeFi) platform known for providing yields through tradable digital tokens, now boasts a total value locked (TVL) of $998 million.

Pendle functions as a valuable price discovery tool in the DeFi space by segregating investments into principal tokens (PTs) and yield tokens (YTs). This separation enables the trading of future yields and principal on the open market, empowering investors to speculate on and secure future yield rates.

In a Telegram interview, RightSide, a developer at Pendle, attributed the recent surge in growth to the burgeoning interest in Liquid Restaking Tokens (LRTFi).

Liquid restaking token finance (LRTFi) is an emerging segment within DeFi that facilitates the liquidity of staked assets through liquid restaking tokens (LRTs). These tokens allow users to earn rewards while their original assets remain locked for network services.

Pendle has emerged as an early adopter and innovator in the LRTFi space, offering users a distinctive opportunity to speculate on EigenLayer yields and points.

Expanding its horizons, Pendle has now ventured into the BNB chain and introduced products enabling users to leverage real-world assets (RWA).