Pendle is a DeFi protocol that enables the trading of tokenized future yield on an AMM system. Pendle aims to provide the holders of yield-generating assets with the opportunity to generate additional yield and to lock in future yield upfront, while offering traders direct exposure to future yield streams, without the need for an underlying collateral. Pendle exists on top of first-degree protocols. Pendle currently supports Aave and Compound, with more platforms to be integrated in future. There are three components that make up Pendle’s system:
- Yield tokenization
- Pendle’s Automated Market Maker (AMM)
- Governance (Coming soon)
