Thread by @pendle_fi

1/ We’re excited to announce the investors supporting Pendle’s vision for creating the next layer of DeFi yield markets.

Led by @MechanismCap, we’re grateful to have raised $3.7M in our seed and private rounds, with support from an amazing group of funds and individuals.

2/ Transforming Pendle from an idea into a reality would also not have been possible without the help of our advisors:
+ @loi_luu (@KyberNetwork)
+ @0xttk (@ambergroup_io)
+ @SSrinawakoon (@BandProtocol)
+ @TKKevin7 (@naos_finance)
+ YY Lai (@Signum_Capital)

3/ Pendle’s token allocation will break down as follows:

Liquidity incentives: 37%
Team: 22%
Ecosystem fund: 18%
Investors: 15%
Liquidity bootstrapping: 7%
Advisors: 1%

4/ Pendle was started with the goal of creating yield markets across DeFi platforms. It accomplishes this through a protocol that lets users separate future yield from their base yield-bearing assets and an AMM that allows for the trading of future yield tokens.

5/ Depositing a future yield token on a typical constant function AMM would result in guaranteed losses for liquidity providers over time. Pendle’s novel AMM takes this depreciation into account by incorporating a dynamic curve that normalizes risk exposure.

6/ Yield tokens will form a new DeFi primitive that can be traded on our AMM variant to achieve a variety of objectives.

7/ + Hedgers can sell these tokens to lock in profits and receive upfront cash.

+ Traders can buy these tokens for a capital-efficient way to gain exposure to fluctuating rates.

+ Arbitrageurs can take advantage of opportunities available across the current yield landscape.

8/ "Ultimately, we aim to become a key protocol for crypto natives who are deeply comfortable with AMMs, while catering to the needs of the emerging crypto trading desks.

Join us as we create the next layer of DeFi yield markets."

~@tn_pendle

Read more about it here:
medium.com/pendle/pendle-…