Binance Labs, the venture capital arm and incubation subsidiary of crypto exchange Binance, has announced its investment into leading DeFi protocol Pendle Finance. The investment is part of Binance Labs’ commitment to supporting the next-gen DeFi projects.Pendle Finance is a decentralized yield trading protocol that provides users with the opportunity to generate substantial yields on stablecoins and Ethereum-linked assets. It operates on both the Ethereum mainnet and Arbitrum and offers a mechanism for users to deposit tokens into Principal token vaults, resulting in fixed annual percentage yields (APY).The funds raised will be used to expand the scope of Pendle Finance across different blockchain ecosystems, allowing both individual and institutional users to access diverse DeFi yield prospects. Pendle Finance also places a strong emphasis on inclusiveness and has designed several features to provide enhanced flexibility in yield management.Yi He, Co-Founder & Head of Binance Labs, said: “Binace Labs is always looking for projects that are spearheading innovation in DeFi sectors that will enable access to a wider audience. Pendle Finance’s focus on multi-chain expansion and innovative yield strategies align with our vision for the future of DeFi. We look forward to working closely with Pendle Finance and supporting their journey of reshaping the DeFi landscape towards a more inclusive ecosystem”.TN, Co-Founder and CEO of Pendle Finance, said: “We at Pendle are on a mission to redefine how yield generation is experienced by users. Our collaboration with Binance Labs brings unparalleled expertise and resources that will catalyze our growth, ultimately driving accessibility and usability of yield opportunities across numerous venues. We are excited to embark on this journey together, propelling DeFi into a new era of inclusivity and innovation”.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
positive |
| Relevance Score |
9 |
| People |
Yi He, TN, Co-Founder and CEO |
| Companies |
Binance Labs, Pendle Finance, Lido, Rocket Pool, Binance |
| Currencies |
Ethereum, Bitcoin, BNB, stETH, rETH |
| Securities |
None |
