The Pendle protocol has achieved a remarkable milestone, reaching a total value locked (TVL) of $8.27 billion, marking a new record. Simultaneously, the native token, PENDLE, experienced a substantial surge of 45% in value over the past week, now priced at $5.6. These developments come in the wake of the launch of Pendle’s innovative trading platform, Boros, which has captured significant attention in the market.
Features of the Boros Platform
This week, Bitcoin 
$80,517 funding rates have been reported to hover around an annual average of 10%. With approximately $80 billion tied up in open positions, over $8 billion is being exchanged annually. The Boros platform introduces this yield as On-Chain Yield Units (YUs), offering investors the opportunity to take long or short positions on these rates.
Through Boros, users can develop advanced strategies, such as hedging variable payments against fixed rates and stabilizing high yields during volatile periods. In the initial two days post-launch, Boros witnessed deposits of 283 WETH (approximately $1.1 million) and 6.4 WBTC (around $750,000), underscoring its rapid adoption and potential.
With Boros’s debut, Pendle’s activity on Arbitrum has significantly increased. The number of active addresses rose to 1,428, surpassing the monthly average. A notable boost in buyer and seller numbers was observed across decentralized exchanges. (Data provided by TheTie)
Over the past three days, PENDLE has surged by over 50%, significantly benefiting from the support of the Boros platform.
Future Plans and Hyperliquid Integration
Currently, Boros supports BTC and ETH funding rates. There are plans to expand its offerings to include other variable yield products such as staking rewards and tokenized Treasury bonds in the future.
The growth in Pendle’s TVL and token performance is attributed to its integration with the Hyperliquid ecosystem. Since last month’s integration, Kinetiq’s kHYPE, the largest liquid staking token on Hyperliquid’s HyperEVM, has amassed a TVL of $221 million.
The advent of the Boros platform, offering new strategic opportunities to investors, has noticeably impacted Pendle, evidenced by increased user activity and rising TVL. The swift expansion of the platform and plans for new product introductions are being closely watched by those invested in the ecosystem.
