PENDLE, the native token of Pendle Finance, is now available on Bitso!
Pendle is a DeFi protocol that unlocks a new way to interact with yield. Instead of just holding yield-bearing assets, Pendle lets you split, trade, and optimize yield, giving users full control over future returns. With Pendle Finance, DeFi yield becomes tradable, flexible, and more powerful than ever. PENDLE is the token that powers the protocol.
What is PENDLE?
PENDLE is the governance and utility token of Pendle Finance, a decentralized protocol that lets users tokenize and trade future yield. While you don’t need PENDLE to interact with the protocol, it plays a crucial role in powering its incentive system, governance decisions, and reward distribution.
Pendle Finance operates by allowing users to deposit yield-bearing assets (like stETH or aUSDC), which are then wrapped into standardized tokens and split into two components:
- Principal Token (PT): Represents the base value of the original asset.
- Yield Token (YT): Represents the future yield that the asset will generate up to a fixed maturity date.
This separation enables entirely new strategies in DeFi: you can sell your future yield upfront, lock in fixed income, speculate on interest rate changes, or provide liquidity—all on Pendle’s custom-built AMM, designed specifically for PT and YT trading.
By locking PENDLE, users receive vePENDLE, which grants voting power and a share of protocol fees. vePENDLE holders can also decide how newly minted PENDLE tokens (called “emissions”) are distributed across Pendle markets, determining which pools receive incentives and how much, ultimately helping shape where yield opportunities emerge.
What is PENDLE used for?
- Governance: PENDLE holders can vote on key decisions, including which markets are listed.
- Lock: Locking PENDLE grants users vePENDLE—a non-transferable token that provides voting power and access to protocol fees and incentives.
- Incentives: vePENDLE holders influence how emissions are distributed across Pendle markets.
Why Pendle Finance stands out
- Yield made tradable: Pendle turns future yield into a tradable token (YT), separating it from the principal value (PT) of the original asset.
- Advanced strategies made simple: Pendle provides easy access through a single platform to fixed-income and yield-generating strategies that would otherwise be more complex to execute
- Custom AMM design: Built specifically for PT and YT trading, enabling pricing efficiency and liquidity across the fixed dates when these tokens expire and can be redeemed—known as “maturities” in Pendle.
- Strong ecosystem growth: Over $200M in Total Value Locked (TVL), and growing.
How to get started with PENDLE on Bitso
- Sign up on Bitso: Create your account through our app or website.
- Buy PENDLE: Swap your favorite fiat currency—MXN, BRL, ARS, COP, or USD—for PENDLE using Bitso’s conversion feature.
- Track the market: Use Bitso’s tools to monitor PENDLE price trends.
⚠️ For now, PENDLE is only available for conversions on Bitso. This means you can buy and sell PENDLE, but deposits and withdrawals to external wallets are currently disabled. However, you can still send and receive PENDLE with other Bitso users via Bitso Transfer.
Disclaimer
PENDLE is the governance and utility token of Pendle Finance, a DeFi protocol on Ethereum that allows users to tokenize and trade future yield. While it offers innovative strategies and financial flexibility, the value of PENDLE is speculative and influenced by protocol use and market dynamics.
The digital asset market is inherently volatile, and prices can change rapidly. This article is intended for informational purposes only and does not constitute financial advice. Bitso encourages all users to conduct their own research (DYOR) before buying, selling, or using any digital asset.
