Seems like a massive repricing event is inevitable.
Look where @pendle_fi stands today:
🔸ATH TVL ($7B) as the 8th largest DeFi protocol
🔸King of yields established as the go-to sector-value discovery platform for all emerging narratives
🔸Incoming first-of-its-kind yield trading w/ margin via V3 Boros
🔸Institutional forefront integration on @convergeonchain with day-1 pre-deposits enabled on @Terminal_fi's LP tokens
🔸vePENDLE at ATH supply
🔸Best stablecoin beta bet (thesis by @GLC_Research attached below)
On top of all these, Pendle's institutional moat beyond DeFi is heavily underway.
This second-order moat sets Pendle in its own league.
Wtv clones out there isn't the same, you can't just for a 'pendle'.
Pendle is no longer just a 'yield tokenisation platform', its made up of the brand & ecosystem that it has built over the past 2 years since V2 launch.
Send it higher, $PENDLE.
h/t @DefiLlama @coingecko for insights & references
On Pendle's unmatched institutional penetration:
On deep institutional penetration:
It's a fact that @pendle_fi has quietly built DeFi's strongest moat around narrative-driven yield discovery.
Now, it’s entering a stage 99% of protocols never reach: Institutional Infrastructure.
IMO this is the real unlock, where it cements a second-layer moat through strategic CeFi/TradFi partnerships with accredited entities:
🔸Edge Capital: Market-neutral hedge fund (mEDGE tokenised strategy vault → access to insti-grade strategies)
🔸 @k3_capital (Institutional LP): Utilise PT for fixed-yield strategies
🔸 @TheSpartanGroup ($500M+ crypto liquid fund): Dynamic yield strategies
🔸Republic Digital (Insti asset manager): Fixed yield investments
🔸@ambergroup_io (Digital asset leader): Pendle as core component of on-chain treasury
🔸@caladanxyz (DeFi market maker): Yield products as treasury management strategy
🔸@FasanaraDigital (Quantitative investment fund): Fixed yield strategies via PT
🔸@august_digital (DeFi prime brokerage): Democratise PT yield access to institutional client base w/ @upshift_fi vaults integration for retail
🔸 @Re7Capital (Liquid fund & alpha strategy firm): Leverage on PTs for enhanced delta-neutral strategies
🔸@DeFianceCapital (Crypto investment firm): $PENDLE position + stablecoin yield farming
Notably, Pendle is formally recognised on the institutional front with its core debut on @convergeonchain for yield trading on RWA-Fi assets.
This is huge given how @ethena_labs @Securitize is behind this initiative.
In case you can't see, Pendle is no longer just a protocol.
It’s becoming THE standard for yield as a product.
Pendle.
you're welcome @PendleIntern
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