$3.5M raised by Pendle Finance to launch secondary market for DeFi Yields

$3.5M has been raised by Pendle Finance to launch secondary market for DeFi Yields

A private investment round that is worth $3.5 million has been completed by Pendle Finance, a decentralized finance protocol that allows users to tokenize and sell future yields and which the aforementioned is to be used to power the next phase of its platform that is evolving.

Myriads of companies such as DeFi Alliance, Lemniscap, Haskey Capital, imToken, CMS and Spartan Group contributed to the private investment round.  The private investment team is gaining advise from Kyber Network and Keeper DAO, that are considered as industry leaders from such projects

The platform will permit users to trade the ever-increasing yield being given by DeFi products in a secondary market as posited by Pedle’s co-founder, simply referred as TN. He further opined that:

“By giving everybody the ability to easily hedge, trade and arbitrage yield, we allow our users to actively manage their exposure. Bringing greater visibility and control to yield markets is necessary for the maturation of the space.”

Created in October 2020, Pendle has designed a protocol that lets users separate future yield from their base yield-bearing assets. The platform offers an automated market maker, or AMM, that allows users to trade future yield tokens. Users can sell their yield tokens to lock in profits and receive upfront cash. They can also purchase the tokens to gain exposure to fluctuating yields.

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