Pendle New Mining Pool Offers Up to 45% Bitcoin Yield
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September 12, 2024
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DeFi platform Pendle launches a new product offering variable yield pools up to 45% for Bitcoin (BTC)-backed tokens, alongside a 10% fixed annual percentage yield (APY) option. Users can deposit LBTC (Lombard) into a Pendle pool built on Ethereum L2 network, Corn. The pool has attracted over $13 million in deposits since its launch and will expire on December 26th. Pendle CEO TN Lee stated that they aim to replicate the success of ETH fixed income for BTC. Pendle achieves high yield by splitting investments in DeFi protocols into Principal Tokens (PT) and Yield Tokens (YT). (Coindesk)
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