According to official news, the Pendle platform has generated more than $1.15 million in fee revenue since November 28, bringing significant benefits to vePENDLE holders. Currently, approximately 30% of PENDLE tokens are locked as vePENDLE, while 80% of the fees generated by the platform are distributed to vePENDLE holders. The average lock-up time of vePENDLE reaches 388 days, further highlighting the long-term confidence of the community. The total number of PENDLE currently circulating in the market is 164,798,902, and the total number of locked PENDLE is 52,372,379.

Users who support the appropriate fund pool to vote can enjoy an annualized rate of return of up to 4,399% (MUXLP pool). In addition, users can also increase the basic annualized rate of return of the fund pool to 2.5 times.

Pendle's upcoming new feature: Boros

Pendle will launch a new feature, Boros, next year. Boros (formerly known as Pendle V3) will support trading of new yield assets and introduce leverage through margin trading capabilities, achieving unprecedented capital efficiency on any type of yield (including off-chain yields). This will bring users more trading opportunities and a higher leverage trading experience, while increasing platform fee income, all of which will be distributed to vePENDLE holders.

With Boros, Pendle is launching the next big chapter in the yield space, starting with a critical yet underexplored type of yield in crypto – funding rates.

Perpetual swaps exchanges trade $150 billion to $200 billion per day, and funding rates play a major role in shaping traders’ strategies. With Boros, traders will be able to trade funding rates with flexibility and precision, enabling previously unattainable levels of sophistication. This innovation will not only redefine Pendle’s product range, but is also expected to reshape one of the world’s largest and most active markets.

Boros introduces a completely new infrastructure that runs alongside the existing Pendle V2, which will continue to be optimized and improved. We envision a future where traders and market makers incorporate Boros as part of their core revenue strategy.

For example, there is currently no reliable method in the market to achieve large-scale hedging of funding rates. Taking Ethena as an example, the yield and sustainability of the protocol depend largely on the fluctuation of funding rates, which often involve billions of dollars of notional capital.

The emergence of Boros has changed this situation, providing an active and capital-efficient solution that enables traders to achieve absolute control and predictability of returns. Taking Ethena as an example, they can get a fixed funding rate return by hedging on Boros. From another perspective, speculators can use leveraged trading funding rate fluctuations to obtain potential excess returns and unlock a new strategy space in the interest rate dimension.

Funding rate is just one of many new starting points for Boros. With the synergy of Boros and V2, the Pendle ecosystem is going all out to redefine the framework of DeFi returns.

Big airdrop benefits at the end of the year

Pendle will launch a large-scale airdrop at the end of the year, and each vePENDLE holder will receive airdrop rewards based on the points collected by the protocol. The vePENDLE holding snapshot will be taken at 23:59 (UTC) on December 31, 2024, and the corresponding tokens will be distributed proportionally.

Please note that this airdrop is only for individual vePENDLE holders, and third-party liquidity lockers will not be included in the airdrop.

The tokens to be distributed include:

More tokens may be added before the snapshot date.

The earnings and points accumulated since the announcement of the Boros feature will also be distributed to vePENDLE’s liquidity lockers, further incentivizing user participation.

Pendle is continuously improving its core competitiveness in the field of decentralized finance through rich functional upgrades, generous user incentive plans and innovative revenue models. Community members are welcome to actively participate, lock in vePENDLE, and enjoy more benefits and benefits.