Pendant’s total value locked (Tvl) has risen to a record of $ 8.27 billion, while its native token pendant rose 45% over the last week to $ 5.6 on the back of the protocol’s new dividend trading platform.
With Bitcoin financing rates on average approx. 10% annually this week and approx. $ 80 billion in open interest, according to Dune Data, changes more than $ 8 billion hands annually between long time and shorts.
BOROS packs these yields for marketable assets on the chain called dividend units (Yus)To let dealers go long or short at the rates themselves.
Boros can be used for several advance strategies, including hedge -flowing financing payments for fixed rates or locking high yields during unstable periods.
In the first two days attracted Boros deposits of over 283 weth (about 1.1 million dollars) and 6.4 WBTC (about $ 750,000) In its vaults, data shows.
Activity on pendant arbitum implementation is spiked together with the launch, with active addresses reaching 1,428, well over the monthly average, and both buyers and sellers multiplying on decentralized exchanges according to data from Thetie.
While BOROs are currently supporting BTC and ETH financing rates, the plans are to expand to other fluid yields, such as poor wages and tokenized government bonds.
Pendant’s performance and the total value locked also came on the back of the hyperliquid ecosystem. The company integrated with Hyperliquid late last month. Since then, Kinetiq’s Khype, the largest floating stake -token on Hyperliquid’s Hyperevm, has attracted $ 221 million in the total value locked.
Over the past week, Pendle -Token has significantly surpassed the wider cryptocurrency market, measured by Coindesk 20 (CD20) index, which increased 13.15% during the period.
