Pendle is known for its strong influence in the Ethereum-dominated DeFi space, especially in narratives such as LST, LRT, and Arbitrum. Now, Pendle has officially entered a new field by launching a BTC pool. This move comes at a critical time when the market's interest in Bitcoin staking and its income opportunities is rapidly rising.
Pendle’s expansion into the Bitcoin yield space is timely and strategic, coming at a time when Bitcoin yield strategies are gaining steam. Of particular note is the rapid rise of Corn, an innovative Ethereum Layer 2 network that uses Bitcoin as a fuel fee and economic incentive. Corn recently raised a massive round led by Polychain and backed by major institutions including Binance Labs, HTX, Offchain Labs, Framework, Symbolic Capital, Steakhouse Financial, Relayer Capital, and Bullet Labs.
Through Pendle, Bitcoin holders will have access to L1-enhanced yield strategies on the platform for the first time, unlocking the potential for fixed income and yield trading, further enriching and deepening their DeFi opportunities.
Pendle CEO TN Lee is very excited about the expansion. He said: "We are very happy to work with multiple Bitcoin yield protocols to bring more new opportunities to their users through Pendle. We have seen major use cases for fixed income on Ethereum, and now we hope to replicate this success in the Bitcoin space. We will launch new funds and projects in the coming weeks, and it will be very busy next."
As a yield tokenization platform, Pendle is able to adapt to almost any yield product in the cryptocurrency space. This flexibility allows Pendle to remain agile and capture hot trends and narratives from Ethereum LST to current Bitcoin yields, and even meme coins like PEPE.
Corn’s LBTC represents an important collaboration between leading BTCfi players. Powered by Lombard, LBTC makes Liquid Stake Bitcoin staking possible on Babylon, a Bitcoin-focused restaking infrastructure layer. By depositing LBTC on Corn, users can not only further support Corn’s pre-launch activities, but also earn Kernels, which can subsequently be redeemed for $CORN airdrops.
Corn LBTC and EtherFi’s eBTC are now available on Pendle, and Bedrock uniBTC, Solv solvBTC, Mezo stBTC, PumpBTC and more re-staked Bitcoins are also in the pipeline.
This article is contributed by a contributor and does not necessarily represent the views of BlockBeats.
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