Pendle

Pendle has transformed from a simple interest rate market into a comprehensive yield management platform. Major institutions are now integrating Pendle into their core strategies: - **Amber Group** ($1T trading volume) uses it for treasury management - **Caladan** ($50B annual volume) leverages it for fixed yield products - **Fasanara Digital** ($4.5B AUM) utilizes it for structured products The platform enables institutions to: - Manage interest rate risk - Price and evaluate future yields - Navigate market volatility through hedging - Access both fixed and floating yields Pendle's Citadels initiative aims to expand institutional adoption further, offering deep liquidity and battle-tested infrastructure across BTC, ETH, and stablecoin derivatives.

f(x) Protocol V2 has launched fxSAVE, a Delta Neutral Stablecoin Vault now integrated with Pendle. The vault offers: - Auto-compounding yields from PERP trading commissions (~8.58% APY) - Fixed APY options through PT - Leveraged exposure opportunities - Additional LP fees and $PENDLE rewards The vault is now accessible on Pendle's platform, expanding the protocol's stablecoin offerings in response to market demand. [Trade fxSAVE on Pendle](https://app.pendle.finance/trade/pools/0x9bc2fb257e00468fe921635fe5a73271f385d0eb/zap/in?chain=ethereum)

Pendle announces key changes to its fee structure starting May 2025: - vePENDLE yield will be distributed in stablecoins - YT fees increasing from 3% to 5% (effective May 2nd, 2025 00:00 UTC) - All fees will go to vePENDLE holders These changes are expected to: - Boost protocol revenue by ~30% - Increase vePENDLE base APY by ~60% **Important**: Users can still claim YT proceeds at 3% fee until May 2nd. The fee change supports long-term protocol sustainability with minimal user impact.

Pendle's Principal Tokens (PTs) are progressing toward integration with Aave, following a successful initial vote. The next phase requires final AIP confirmation. - First asset planned: Ethena PT-sUSDE-29MAY2025 - Integration will enable: * Fixed Yield Looping * Borrowing against PTs * Enhanced yield opportunities The proposal passed the first voting round on Snapshot, marking a significant step toward expanding Aave's supported assets. [View full proposal](https://snapshot.box/#/s:aavedao.eth/proposal/0xc039953e4f18804bb017876d27621da1ab3e4de53acd3b32d0f1fe94d4bbb6a0)