Pendle : the new institutional playbook in DeFi Thriving through different market cycles into its 4th year, @pendle_fi has been quietly evolving from a savvy yield-layer platform into a multi-pronged institutional powerhouse, here’s why you should be ultra bullish. For any DeFi protocol, graduating into institutional-grade infrastructure signals a deeper, more mature phase of growth. With a unique fixed yield primitive and a rapidly growing ecosystem, Pendle is poised to become the foundation for institutional access to DeFi yield. ⛩️Pendle V2: Better, Faster, Stronger As we step into a new growth phase, the revamped V2 with sleeker mechanisms is opening up for all the most popular protocols in DeFi, especially yield bearing stablecoins as the strongest asset, offering more sustainable and competitive yields. With over 100 active pools, Pendle is now the indispensable yield market for all. ⛩️Pendle PT dominance Pendle PTs are reshaping the role of collateral in DeFi. Today, over $2.67B worth of PTs are actively used as collateral—and that number’s growing fast. As of today, @aave alone holds over $2.1B in PTs, a staggering endorsement of the model. The protocol has raised supply caps multiple times to keep up with demand. These assets now represent a core yield-bearing layer for lending protocols, enabling capital efficiency while introducing fixed income concepts familiar to TradFi. With cross-chain PTs on the horizon, PT is set to unlock a new wave of adoption across broader lending markets. ⛩️Boros: the ultimate yield trading monster Unlocking funding rates as a robust new yield source, we are taking bold steps to unleash this new beast as its power will be unparalleled. The very first fully on-chain order book of @boros_fi with unprecedented capital efficiency will offer a wide variety of trading strategies. ⛩️The Ethena Squad :Institutional Synergy in Motion Pendle’s deep integration with @ethena_labs is more than a partnership—it’s a strategic alliance. With over 60% of Ethena’s TVL empowered by Pendle, this partnership is growing stronger by day. As a launch partner, Pendle’s unique yield-trading mechanisms will continue to play a crucial role in the growth of @convergeonchain , designed for institutional plays. This Ethereum-compatible chain blends permissionless DeFi with KYC-compliant tokenized RWAs, such as BlackRock’s BUIDL. With strong liquidity flowing into @etherealdex , @Terminal_fi is also gaining traction, attracting over $60 million in liquidity in the blink of an eye. In a nutshell, Pendle is doing what ETFs, swap desks, and structured product desks do in TradFi—but on-chain, composable, and 24/7. Pendle will keep proactively building the infrastructure to lead the way, as Institutional adoption becomes the next step for DeFi. Job's not done, more actions. Pendle