For the first time in a long while, I went to check my Binance account and found out about a project which is currently on its Launchpool.
If you have been using the exchange, you would already know about their Launchpool where they feature projects and users can farm tokens by staking certain crypto assets.
The 35th project is Pendle, "a yield-trading protocol that separates a yield-bearing asset into its principal and yield components allowing users to earn fixed or flexible yields." (Source)
Farming $PENDLE started on 4th of July and runs for 25 days (ends on 28th July 2023 at 23:59 UTC).
Pendle was created by a group of anonymous individuals with the pseudonyms TN Lee, GT, YK and Vu. The headquarters is in South Korea and they have raised $3.7 million funding from various investors like Bitscale Capital, Crypto.com Capital, Fisher8 Capital, Strategic Round Capital and other investors. The project officially launched in June of 2021 after considerable developments. It has reached over $350 million trading volume. (Source)
Pendle is a decentralized, permissionless finance protocol that allows users to tokenize and trade future yields. (Source)
Pendle is a yield-trading protocol that separates a yield-bearing asset into its principal and yield component allowing users to earn fixed or flexible yields. PENDLE is the utility token that is used for liquidity incentives, governance and fee value accrual. (Quoted)
Information obtained via Binance
More about the token and tokenomics here.
Launchpool Rewards: 5,021,222 PENDLE which is 2% of total token supply
Total Daily Rewards: 200,848.88 which are split between two pools on a 80% / 20% share.
These are the two available pools where users can farm PENDLE, re:
Through the BNB Pool or if you have BNB on the BNB Vault, you are automatically eligible to earning $PENDLE.
(src)
A total amount of 4,016,977.60 $PENDLE are allotted for this pool which is 80% of the total rewards.
Total BNB staked at the time of this writing is 7,695,199.3752 BNB with an estimated APY is 3.23% and are constantly updated in real time.
A total of 1,004,244.4000 $PENDLE (20% of the total rewards) are allotted for this pool. At the time of this writing a sum of 263,132,594.8835 TUSD have already been staked with an estimated APY of 6.15% and expected to change.
(src)
Rewards from staking on any of these pools are calculated and updated every hour and claimable anytime and can be traded on Binance exchange with the following pairs:
More information about the farming pool on Binance. Should you want to learn more about the project, check out Binance Research.
Disclaimer: This is for infotainment only and none is meant to be an investment or financial advice. Please DYOR.
Lead image created on Canva. Logo from Pendle and Wiki Commons. No copyright infringement intended. 09072023/09:35ph
