Permissionless yield-trading protocol Pendle introduced the Boros platform, aiming to expand yield trading into new areas. Formerly known as Pendle V3, Boros allows yield trading on margin with enhanced capital efficiency, applicable to a wide range of yields, including off-chain rates.
Boros offers the ability to trade funding rates, providing traders with flexibility and precision that were previously unavailable, enabling Pendle to tap into one of the largest and most active markets in the space.
Boros also introduces a new Base, which will work alongside Pendle V2, with continued improvements to the latter. The goal is to establish Boros as a core tool for traders and market makers within their yield strategies.
Designed to be a proactive and capital-efficient solution, Boros allows traders to achieve greater control and predictability. For example, with Ethena, traders can hedge on Boros to lock in fixed funding rate returns on their capital. Additionally, speculators have the potential to earn returns by trading funding rate fluctuations with leverage, opening up new strategic opportunities in the interest rate space.
Funding rates are just one of many new features that Boros introduces. Together with Pendle V2, the Pendle ecosystem is positioning itself to redefine the landscape of DeFi yields.
Importantly, there will be no new token or changes to tokenomics or emissions. PENDLE and vePENDLE will remain the primary focus for value accumulation from both Boros and V2.
Introducing Boros by Pendle: Yield Trading with Margin
Based on the ancient Greek word meaning “to eat”, Boros is Pendle’s newest platform. Developed from scratch in our conquest to consume every yield in the world, both onchain and offchain, starting with funding rates.
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— Pendle (@pendle_fi) November 11, 2024
Pendle To Conduct Airdrop, Rewarding vePENDLE Holders
Furthermore, individual vePENDLE holders will be eligible for an airdrop based on points accumulated by the protocol. A snapshot of vePENDLE holdings will be taken on December 31st at 23:59 UTC, and the tokens will be distributed pro-rata. This airdrop is exclusively for individual vePENDLE holders and will not include third-party liquid lockers. The airdrop allocation will include tokens such as sENA, ETHFI, EIGEN, REZ, PUFFER, and COOK.
Pendle is a protocol initially launched on the Ethereum network, created to provide a marketplace for yields generated by supported yield-bearing tokens. It works by separating these tokens into two components: principal tokens and yield tokens. This separation allows for liquidity pools where users can trade these tokens. Pendle’s platform facilitates trading in both fixed and floating rates for the supported yield-bearing tokens, enabling users to earn fixed yields, speculate on potential increases in the yield of the underlying token, and contribute liquidity to Pendle’s pools for those tokens.
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