Pendle Ripped in Early 2024, But Usage Has Slowed Down. Can It Recover? - Ep. 693

Pendle Finance, an innovative protocol that lets users trade yield, surged in popularity earlier this year but is now grappling with a downturn in usage. 
In this episode, founder TN Lee shares insights into Pendle's approach, the factors behind its recent success, and the challenges it faces in recovering user engagement and TVL. Plus, since Pendle’s rise was driven by the points narrative, TN talks about how the protocol can keep growing. 
Show highlights:

00:00 Intro

01:24 What Pendle is, how the idea for it was born, and how it works

05:06 Why Pendle has exploded this year, even though it launched years ago

12:01 Whether Pendle is an app for sophisticated traders and the most common strategies in the protocol

15:46 How users are able to leverage their earned points in several protocols

19:20 Besides market risks, what the risks are of trading in Pendle and how they try to mitigate them

20:57 Pendle’s recent significant drop in TVL and plans to recover

24:13 If the points narrative ends, will Pendle remain relevant?

27:31 Crypto News Recap

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Guestl

TN Lee, Founder of Pendle Finance
Links
Previous coverage of Unchained on Pendle: DeFi Protocol Pendle Reaches All-Time High as Total Value Locked Tops $5.78 Billion

Background Information on Pendle


Introduction 

Glossary

Minting

Advanced Yield Trading Strategies

vePENDLE


DeSpread Research report (Sept 2023)

Cointelegraph Research: Deciphering Pendle Finance’s surge 

Others:

Crypto News: Major Changes Ahead: Pendle Ends Earn UI, Focuses on V3


Pendle reached its second largest maturity event on July 25

DeFi Llama: Pendle’s TVL



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