Pendle officially launches on Base, initially supporting Coinbase ETH (cbETH) and Lombard BTC (LBTC), and introduces the Morpho Pendle wBTC pool. 🎉 This is great news for crypto enthusiasts, especially those focused on yield tokenization and trading protocols. Pendle's BTCFi TVL surpassed $1 billion last week, capturing approximately 41% of the market share, demonstrating its significant position in the market.

Pendle's yield tokenization strategy offers investors a variety of choices. By splitting yield-bearing assets into Principal Tokens (PT) and Yield Tokens (YT), users can select investment strategies that suit their risk preferences. PT provides fixed returns, similar to bonds in traditional finance, while YT represents the right to liquid returns, which may depreciate over time, but holders can earn the underlying asset's yield.

For investors who enjoy challenges, Pendle's Liquidity Pool (LP) strategy is a good option. By combining Principal Tokens with underlying assets, the LP strategy helps investors maximize returns. Additionally, Pendle offers reward points that may convert into airdrops, increasing the potential returns of the protocol.

In the DeFi world, PnL calculations differ from traditional finance. DeFi transaction records appear on the blockchain ledger, such as swap transactions and interest generated from lending. AMM fee income and impermanent loss are concepts unique to DeFi, with no corresponding records in traditional finance.

For Pendle users, timely migration of liquidity to new pools is key to ensuring returns. SkyEcosystem's sUSDS liquidity providers need to migrate liquidity to new pools to better support PT/YT trading. The migration steps are straightforward, but should not be overlooked, or else potential returns may be missed.

Finally, Pendle's collaboration with Silo offers users a 22% discount on ETH, which is undoubtedly an opportunity not to be missed. For those looking to gain more returns in the crypto market, now is the right time to act.

What are your thoughts on these new developments? Feel free to share your views and insights in the comments! 💬