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Pendle launches its first LSD pool on Arbitrum.

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Pendle mining pool is currently the largest holder of rETH (Arbitrum).

Source: Pendle

Pendle has launched its first Liquidity Mining Derivatives (LMD) pool on Arbitrum, which includes wstETH from Lido Finance and rETH from Rocket Pool, providing deeper liquidity and better yield potential for LMDs on Layer 2 networks.

Two new pools mark Pendle's first foray into the LSD space beyond Ethereum. With this move, Pendle aims to attract and establish the liquidity foundation needed for the prosperity of LSD and LSDfi on Arbitrum and potentially other platforms in the future (such as BNB Chain).

As of the time of writing, the rETH pool of Rocket Pool has gained liquidity of 5.2 million US dollars, which accounts for 85% of the total supply of LSD Token added on Layer 2 network. Pendle mining pool is currently the largest holder of rETH (Arbitrum), occupying 41.6% of the market share.

For wstETH, this growth is even more impressive. The new Lido Finance pool launched by Pendle quickly gained a large number of fans and users' love, and liquidity increased to $10.2 million in just 3 weeks. Pendle is currently the third largest holder of wstETH (Arbitrum), with a share of 7.5%, second only to Aave and Radiant Capital.

As users' attention to these liquidity pools increases and the narrative around third-party PENDLE liquidity locker EquilibriFi and Penpie's "PendleWars" storyline continues to rise, Pendle recently surpassed the milestone of $100 million in total value locked (TVL) and total trading volume.

According to CoinGecko data, the current trading price of PENDLE is $0.75, with a year-to-date increase of 1538%.