Pendle has proven the yield trading category, no questions asked.
They spent years mastering PT/YT markets on EVM chains.
What about non-EVM ecosystems?
There are projects on Solana working on similar systems, e.g. @exponentfinance and @ratex_dex.
Check them out đ§”
1. Pendle's TVL has ups and downs, but it took them 2+ years building in the shadows to get into the mainstream. Their $5.2B TVL, operating on 8 chains and having a huge list of different assets available is impressive.
Who are their Solana counterparts?
2. On one side we have Exponent founded by @ttrofel ex-Kamino engineer.
Last year, they secured their first $2.1M round and TVL sits around $90M.
Their PT/YT tokens are disguised as "Income" and "Farm" strategies, which makes it accessible to understand.
3. On the other side, RateX founded by @seanhu001, offers up to 10x leverage on yield tokens. Their markets for YT/PT are named "Leverage" and "Farm", allowing you to choose a strategy that suits you best.
Highly incentivising their markets with points, which might encourage Solana degens. They secure circa $110M currently.
4. My take: Trading yield is fundamentally important primitive on a chain.
It's also about growing the pie. New ideas. New integrations.
No point in playing zero-sum-game.
No doubt new yield bearing assets, especially stablecoins đ will be growth engine for both platforms.
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