Yield trading platform Pendle debuts new token to boost user capital efficiency

2026-01-20 13:40:50

Source: CryptoNewsNet Original Title: Yield trading platform Pendle debuts new token to boost user capital efficiency Original Link: Pendle, a DeFi protocol that allows trading future returns from interest-bearing tokens, is changing its design to unlock capital efficiency for users.

Traditionally, Pendle users deposited yield-bearing tokens like staked ether (stETH) into the protocol. Tokens like ETH generate built-in yield from staking, a process of locking coins in a blockchain address to secure the network in exchange for rewards. stETH is the staked version of ether.

In return, Pendle users received vePENDLE, which represented their stake and voting rights to earn extra perks on top of their locked coins’ natural earnings. The coins deposited kept paying their regular yield, with vePENDLE sprinkling bonus rewards without touching the principal.

The catch: once locked, those tokens were inaccessible, creating capital inefficiency.

PENDLE-4,76%

STETH-7%

ETH-6,94%

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