Pendle Finance 以破纪录的指标达到顶峰

Pendle Finance 的锁定总价值 (TVL) 显着飙升，已超过 39.7 亿美元。该协议的收益机制通过将收益资产分为主代币（PT）和收益代币（YT）的过程来对收益进行代币化，吸引了人们的极大兴趣。 Pendle 的 TVL 增长是由 EtherFi 和 Renzo 等重新抵押协议的代币涌入推动的，这些协议利用 Pendle 来提高收益。

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

Pendle Finance 凭借破纪录的 TVL 和交易量而声名鹊起

Pendle Finance's Exponential Growth

Pendle Finance 的指数级增长

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 是一种专注于产生收益的去中心化金融（DeFi）协议，其总锁定价值（TVL）和交易量都出现了惊人的增长。根据 DeFiLlama 的数据，Pendle 的 TVL 周四飙升至惊人的 39.7 亿美元，自年初以来飙升超过 1,500%。这一显着的增长推动 Pendle 成为加密货币市场上最大的 DeFi 收益协议。

Restaking Protocols Fuel Pendle's TVL Ascension

重新抵押协议推动 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.

来自重新抵押协议的代币涌入在 Pendle 的 TVL 激增中发挥了重要作用。 EtherFi 和 Renzo 等一直在利用 Pendle 来提高其重新质押的以太坊资产的收益率。这一趋势推动了代币稳定流入 Pendle 平台，为其 TVL 的令人印象深刻的增长做出了贡献。

Trading Volume Crosses $10 Billion Mark

交易量突破 100 亿美元大关

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 数据显示，Pendle 的交易量已超过 100 亿美元，交易费用在过去四天内大幅增长 600%。交易活动的激增很大程度上归功于Pendle的高收益结构，吸引了越来越多寻求有吸引力回报的交易者。

Innovative Yield-Bearing Mechanism

创新收益承载机制

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以其新颖的收益承担机制在DeFi领域脱颖而出。该机制涉及通过将产生收益的资产分为两个部分的过程来对收益进行代币化：主代币（PT）和收益代币（YT）。这种创新方法允许交易者直接交易收益，提供独特的投资机会。 Pendle的平均收益率一直保持较高水平，目前24小时收益率徘徊在59.6%左右。

Ethena's USDe Sparks Interest in Pendle

Ethena 的 USDe 激发了人们对 Pendle 的兴趣

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.

与 Ethena 合成美元 USDe 相关的收益代币交易的增加也促进了 Pendle 活动的激增。 Ethena 在周二分发空投代币后引起了广泛关注。投资者已经认识到通过 Pendle 资金池利用 Ethena 高收益的潜力，进一步推动平台上的交易量。

Price Potential Remains High

价格潜力仍然很高

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.

尽管 Pendle 的 TVL 和交易量增长惊人，但其 5.17 亿美元的市值仍然明显较低。这种差异表明 Pendle 的价格尚未完全反映其协议的价值。随着采用范围的不断扩大，价格上涨的潜力仍然很大。

Analyst Cautions on Restaking Risks

分析师对重新承担风险的警告

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.

虽然重新抵押带来的高收益可能很诱人，但必须谨慎行事。 Coinbase 分析师最近强调了对重新抵押协议所涉及的潜在风险的担忧，特别是流动性重新抵押的过度重新利用。强烈建议投资者在参与任何加密货币交易活动之前进行彻底的尽职调查。