Pendle (PENDLE) is an innovative financial protocol that allows the tokenization and trading of future yields on Ethereum and Avalanche. Users can convert their yield-bearing assets into liquid assets today by investing them in Pendle. In this article, you can find answers to two frequently asked questions: what is Pendle (PENDLE) and how to buy Pendle (PENDLE) with TRY.
What is Pendle (PENDLE)?
Pendle is an innovative financial protocol that allows the tokenization and trading of future yields on Ethereum and Avalanche. This protocol enables yield-bearing asset owners to convert their future yields into liquid assets today. Pendle achieves this by separating the ownership of a yield-bearing asset from its future yields. When users invest their yield-bearing assets in Pendle, they receive ownership tokens representing the principal of the original asset and yield tokens representing the future yields of that asset for a specific period. This dual-token system allows users to manage their investments and risks. They can benefit from future yields by holding yield tokens or sell these tokens to obtain immediate liquidity.
The main network asset of the Pendle protocol, PENDLE, plays a critical role in governance. PENDLE coin holders can vote on important decisions such as protocol updates and parameter settings. Additionally, PENDLE coin is used to incentivize various activities within the ecosystem and support the growth of the protocol. The tokenomics of PENDLE are designed to align the interests of users, developers, and stakeholders. The total supply of PENDLE is limited to 258,446,028 tokens, and no additional tokens will be created once this limit is reached. This limitation potentially increases the value of the token as demand rises.
PENDLE coin is distributed among community incentives, team members, advisors, and investors. A significant portion allocated to user rewards encourages protocol interaction and liquidity provision. Users can stake their PENDLE coins to earn yields. This helps secure the network while offering token holders the opportunity to increase their assets passively. PENDLE coin holders can propose and vote on changes to staking rewards, token supply limits, and other important parameters that may affect the functionality and value of the protocol.
The primary use cases of Pendle revolve around yield management and risk reduction. Investors can optimize their income by trading future yields based on market outlook and risk appetite. Yield token sellers can hedge against future declines in yield rates by locking in rates. Additionally, investors can benefit from price movements by buying and selling yield tokens.
How to Buy Pendle (PENDLE) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Pendle (PENDLE). Over 100 cryptocurrencies, including PENDLE, can be bought and sold quickly on Binance TR. To buy Pendle (PENDLE) with TRY on Binance TR, you can follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. For this, you need to go to the trbinance.com address and proceed from the “Create Account” step. In the first step of account creation, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, email/sms verification will be carried out to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be carried out before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can choose to complete the verification process from your phone or through the official Binance TR website. Note that you will need your mobile phone to perform identity verification from the website as well.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on the “Copy URL” option to send the identity verification address to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue the verification process, first select the document type that is suitable for you.
After selecting the document type, you can continue by tapping on the “Upload Front Side” option. After taking a photo of the front side of the document according to the document type you selected, tap on the “Upload Back Side” option and take a photo of the back side of the document and upload it. When taking photos of the front and back sides of your ID card or driver’s license, make sure that the images are clear and that the information in the photo is easily readable.
Then you can continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. After the camera opens, make sure that your face fills the camera area as much as possible.
After completing all these steps correctly and completely, your identity verification process will be completed in a short time.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account through all banks. You can deposit and transact 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TL 24/7 with FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can transfer money via wire transfer, EFT, or FAST. All you need to do now is to transfer the amount you want to deposit into your Binance TR account using the information shown on the bank’s page.
After your bank completes the transfer process, the funds you sent will be automatically reflected in your wallet on your Binance TR account.
How to Buy PENDLE Coin with TL on Binance TR?
After depositing money, you can proceed to the TL to PENDLE coin purchase step by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the following page will open. You can go to the TL to PENDLE purchase page by typing “PENDLE” in the search section on the right side of this page and clicking on the PENDLE/TRY option from the results.
Now the following PENDLE trading page will open. On this page, you need to enter the price at which you want to buy PENDLE in the first box marked with a red box and the number of PENDLE you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy PENDLE” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR offers both fiat-to-crypto and crypto-to-crypto trading services by leveraging Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure. Users in Turkey can seamlessly deposit and withdraw Turkish Lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users supported by Binance’s core functionalities can access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
