Pendle Finance 以破紀錄的指標達到頂峰

Pendle Finance 的鎖定總價值 (TVL) 顯著飆升，已超過 39.7 億美元。該協議的收益機制透過將收益資產分為主代幣（PT）和收益代幣（YT）的過程來對收益進行代幣化，吸引了人們的極大興趣。 Pendle 的 TVL 成長是由 EtherFi 和 Renzo 等重新抵押協議的代幣湧入推動的，這些協議利用 Pendle 來提高收益。

Pendle Finance Surges to Prominence with Record-Breaking TVL and Trading Volume

Pendle Finance 憑藉破紀錄的 TVL 和交易量而聲名鵲起

Pendle Finance's Exponential Growth

Pendle Finance 的指數級增長

Pendle Finance, a decentralized finance (DeFi) protocol specializing in yield generation, has witnessed an extraordinary rise in its total value locked (TVL) and trading volume. According to data from DeFiLlama, Pendle's TVL skyrocketed to an astounding $3.97 billion on Thursday, marking a surge of over 1,500% since the beginning of the year. This remarkable growth has propelled Pendle to the position of the largest DeFi yield protocol in the cryptocurrency market.

Pendle Finance 是一種專注於產生收益的去中心化金融（DeFi）協議，其總鎖定價值（TVL）和交易量都出現了驚人的增長。根據 DeFiLlama 的數據，Pendle 的 TVL 週四飆升至驚人的 39.7 億美元，自年初以來飆升超過 1,500%。這一顯著的成長推動 Pendle 成為加密貨幣市場上最大的 DeFi 收益協議。

Restaking Protocols Fuel Pendle's TVL Ascension

重新抵押協議推動 Pendle 的 TVL 提升

The influx of tokens from restaking protocols has played a significant role in Pendle's TVL surge. EtherFi and Renzo, among others, have been leveraging Pendle to enhance the yields of their restaked Ethereum assets. This trend has fueled a steady flow of tokens into Pendle's platform, contributing to its impressive TVL growth.

來自重新抵押協議的代幣湧入在 Pendle 的 TVL 激增中發揮了重要作用。 EtherFi 和 Renzo 等一直在利用 Pendle 來提高其重新質押的以太坊資產的收益率。這一趨勢推動了代幣穩定流入 Pendle 平台，為其 TVL 的令人印象深刻的成長做出了貢獻。

Trading Volume Crosses $10 Billion Mark

交易量突破 100 億美元大關

Dune Analytics data reveals that Pendle's trading volume has surpassed $10 billion, with trading fees experiencing a remarkable 600% increase over the past four days. The surge in trading activity is largely attributed to Pendle's high-yield structure, which has attracted a growing number of traders seeking attractive returns.

Dune Analytics 數據顯示，Pendle 的交易量已超過 100 億美元，交易費用在過去四天內大幅增加 600%。交易活動的激增很大程度上歸功於Pendle的高收益結構，吸引了越來越多尋求有吸引力回報的交易者。

Innovative Yield-Bearing Mechanism

創新收益承載機制

Pendle Finance stands out in the DeFi landscape with its novel yield-bearing mechanism. This mechanism involves tokenizing yields through a process that splits yield-bearing assets into two components: principal tokens (PTs) and yield tokens (YTs). This innovative approach allows traders to trade yields directly, offering a unique investment opportunity. Pendle's average yield has remained consistently high, with a 24-hour yield currently hovering around 59.6%.

Pendle Finance以其新穎的收益承擔機制在DeFi領域脫穎而出。該機制涉及透過將產生收益的資產分為兩個部分的過程來對收益進行代幣化：主代幣（PT）和收益代幣（YT）。這種創新方法讓交易者可以直接交易收益，提供獨特的投資機會。 Pendle的平均收益率一直保持在較高水平，目前24小時收益率徘徊在59.6%左右。

Ethena's USDe Sparks Interest in Pendle

Ethena 的 USDe 激發了人們對 Pendle 的興趣

The increased trading of yield tokens related to Ethena's synthetic Dollar, USDe, has also contributed to Pendle's surge in activity. Ethena gained significant attention following the distribution of its airdrop tokens on Tuesday. Investors have recognized the potential for leveraging Ethena's high yields through Pendle's pools, further driving trading volume on the platform.

與 Ethena 合成美元 USDe 相關的收益代幣交易的增加也促進了 Pendle 活動的激增。 Ethena 在周二分發空投代幣後引起了廣泛關注。投資者已經認識到透過 Pendle 資金池利用 Ethena 高收益的潛力，進一步推動平台上的交易量。

Price Potential Remains High

價格潛力仍然很高

Despite Pendle's impressive growth in TVL and trading volume, its market capitalization of $517 million remains significantly lower. This disparity suggests that Pendle's price has yet to fully reflect the value of its protocol. As adoption continues to expand, the potential for price appreciation remains substantial.

儘管 Pendle 的 TVL 和交易量增長驚人，但其 5.17 億美元的市值仍然明顯較低。這種差異表明 Pendle 的價格尚未完全反映其協議的價值。隨著採用範圍的不斷擴大，價格上漲的潛力仍然很大。

Analyst Cautions on Restaking Risks

分析師對重新承擔風險的警告

While the high yields associated with restaking can be alluring, it is imperative to proceed with caution. Coinbase analysts recently highlighted concerns regarding the potential risks involved in restaking protocols, particularly the excessive repurposing of liquid restaking. Investors are strongly advised to conduct thorough due diligence before engaging in any cryptocurrency trading activities.

雖然重新抵押帶來的高收益可能很誘人，但必須謹慎行事。 Coinbase 分析師最近強調了對重新抵押協議所涉及的潛在風險的擔憂，特別是流動性重新抵押的過度重新利用。強烈建議投資者在參與任何加密貨幣交易活動之前進行徹底的盡職調查。