Pendle Makes the Fortune Magazine Cryptocurrency Innovators List

BlockBeats News, June 16th, Recently, Pendle was selected for the Fortune magazine's Cryptocurrency Innovators list, standing out from over 150 nominations and making it to the top 30 along with traditional financial institutions such as J.P. Morgan, DBS Bank, and SBI Holdings. Pendle is positioned to fill the long-standing gap in the crypto market for on-chain fixed income—where on-chain variable yield has been ubiquitous but tools for locking in a known interest rate or making directional bets on duration have been lacking. Currently, the total value locked in the Pendle protocol has reached billions of dollars, with a growing share coming from stablecoin yield markets and institutional structured funds.

In addition, since the launch of sPENDLE, the Pendle protocol has red 1,722,192 PENDLE tokens from the open market and distributed them all to sPENDLE holders. sPENDLE holders have received approximately $1.4 million in airdrop rewards from the beginning of the year to date. The team stated that "the work is not yet done," and further progress is still underway.