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Pendle Weekly Overview: BTC pool TVL reaches $120 million, YT-uniBTC potential income and stablecoin pool provides 18% APY

Pendle Weekly Overview: BTC pool TVL reaches $120 million, YT-uniBTC potential income and stablecoin pool provides 18% APY

BlockBeatsBlockBeats2024/09/25 08:16
By:BlockBeats

More BTC pools are expected to be launched this week, providing more opportunities for liquidity providers.

With the end of Token2049, the Pendle team has returned to the studio to continue to push updates to the protocol. This week brought a lot of news and opportunities, and here is a summary of the latest progress:


This week, there are some liquidity pools that are about to expire, including USDe, sUSDe, ENA, and LRT pools. Please make sure to check and claim your rewards before expiration. In addition, Pendle will launch some long-term liquidity pools. It is recommended to consider rolling assets into new pools to continue to obtain high returns.


BTC pool TVL exceeds $120 million


After partnering with BTCFi, the Pendle protocol launched 4 BTC pools, and the TVL of its latest BTC pool reached $120 million. Pendle currently offers high BTC re-staking yields, and LP users can enjoy the following APY: · uniBTC: up to 22.62% APY, TVL of US$28 million


· solvBTC: up to 31.16% APY, TVL of US$26 million


· LBTC: up to 28.92% APY, TVL of US$31 million


· eBTC: up to 16.24% APY, TVL of US$35 million


The Pendle team also revealed that more BTC pools will be launched this week, bringing more choices and opportunities to liquidity providers.


Pendle Weekly Overview: BTC pool TVL reaches $120 million, YT-uniBTC potential income and stablecoin pool provides 18% APY image 0


Potential opportunities in the YT-uniBTC pool


The YT-uniBTC pool in the Pendle protocol currently offers up to 22% APY. There may be some highlights and risks behind the high returns, especially in the return estimates of the Corn Kernel and Bedrock Diamonds portfolio investments.


According to market expectations, the combination of Corn Kernel and Bedrock Diamonds shows strong growth potential. For example, assuming a $150 million FDV and taking a snapshot of both on December 31, an investor could potentially receive a 5% airdrop reward in this combination.


Pendle Weekly Overview: BTC pool TVL reaches $120 million, YT-uniBTC potential income and stablecoin pool provides 18% APY image 1


Corn Kernel is expected to grow by about $1.07 billion per day, and the table assumes that Corn Kernel's daily growth in the future will be 5 times the current level, about $5.37 billion. To account for future growth uncertainties, the estimates in the table have been conservatively lowered by 5 times.


Pendle Weekly Overview: BTC pool TVL reaches $120 million, YT-uniBTC potential income and stablecoin pool provides 18% APY image 2


Bedrock Diamonds is expected to grow by approximately $3.07 million per day, and the table assumes future growth of approximately $5.08 million, 1.6 times the current amount. The estimates in the table have been conservatively reduced by approximately 60% to more accurately reflect potential future growth.


Although the YT-uniBTC pool appears to offer a generous return of 22% to liquidity providers, the mechanism of YT still has certain risks. Although the implied APY of this pool is 5.593%, investors still need to carefully weigh the balance between the cost of participating in the pool and the potential airdrop income. Is the airdrop enough to offset the cost of YT? This is a question that all investors should ponder.


Although no one can accurately predict future returns, the growth potential of Corn and Bedrock provides more room for imagination for this pool.


Usual Money APY up to 18%


Pendle protocol not only performs well in BTC pool, but also occupies a market advantage in stablecoin yield. Usual Money stablecoin pool has an APY of up to 18% and is one of the stablecoin pools with the highest yield.


Pendle Weekly Overview: BTC pool TVL reaches $120 million, YT-uniBTC potential income and stablecoin pool provides 18% APY image 3


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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