Pendle Finance, a decentralized finance protocol that allows users to mark and sell future earnings, has completed a $ 3.5 million round of private investment to enable the next development of the platform.
Several companies participated in the private investment round, including CMS, DeFi Alliance, Lemniscap, Hashkey Capital, imToken, Spartan Group and others. The team is consulted by industry leaders from projects such as Kyber Network and KeeperDAO.
Co-founder of Pendle, called TN, said the platform allows users to trade the “ever-increasing profits” that DeFi products provide in the secondary market. To explain:
“By giving everyone the opportunity to secure, trade and broker with ease, we enable users to effectively manage risk. Achieving greater transparency and greater control over profitable markets is crucial for the maturation of space. ”
Launched in October 2020, Pendle has developed a protocol that enables users to link future profits from the underlying revenue-generating assets. The platform provides an automated market maker or AMM that allows users to trade promising tokens. Users can sell the payout codes to lock in profits and receive cash in advance. They can also buy tokens to generate unstable profits.
DeFi has attracted an influx of new investors with attractive returns and increased access to peer-to-peer lending opportunities. Some of the leading DeFi lending protocols provide high double-digit annual relative returns. These platforms have paid deposit fees of hundreds of millions of dollars.
There are over 300 DeFi projects registered on CoinMarketCap. The total market value is $ 119 billion after an increase of 26.9%.