Pendle

HyperLend has integrated PT-kHYPE (November 2025) as collateral, enabling users to borrow HYPE against their PT-kHYPE positions with up to 5x leverage. Key features: - Earn 25% APY with E-Mode - Supply PT-kHYPE to earn yield - Borrowing PT-kHYPE not supported **Risk Factors**: - Market volatility may affect collateral value - Potential liquidation risk - Depegging risks present Visit [HyperLend](https://app.hyperlend.finance/markets/0x311dB0FDe558689550c68355783c95eFDfe25329) to start using PT-kHYPE as collateral.

HyperEVM has demonstrated remarkable growth, accumulating over $300 million in Total Value Locked (TVL) within its first two weeks of operation. This rapid expansion has secured its position among the top 10 protocols on DeFiLlama. This achievement follows a broader trend in DeFi growth, as evidenced by Spark's earlier success reaching nearly $4 billion TVL with a 58.1% monthly growth rate. - HyperEVM: >$300M TVL in <2 weeks - Achieved top 10 ranking on DeFiLlama - Joins other fast-growing DeFi protocols *Data verified through [DeFiLlama](https://defillama.com/)*

Pendle has reached a significant milestone, accumulating over $200M in Total Value Locked (TVL) on HyperEVM within two weeks of deployment. This follows their recent launch of hwHLP, a liquid yield-bearing token representing HLP exposure on HyperEVM. Key features: - Users earn ~9.1% APY from trading fees - 4x Wave Points Boost exclusive to Pendle - Zero fees promotion on hwHLP via Hyperwave The integration marks Pendle's first step in bringing fixed yield infrastructure to HyperEVM, setting the foundation for native fixed yield development within the ecosystem. [Trade on Pendle](https://app.pendle.finance/trade/pools/0x71d4a6bac0fe7210309b6a3807cf2bad13d7c1e1/zap/in?chain=ethereum)

Morpho Labs has added Terminal PT-tUSDe and its associated Pendle LP as supported collateral options on their platform. Users can now choose between two strategies: - **Leveraged Fixed Yield**: Direct exposure to fixed-rate yields - **LP Looping**: Earn both liquidity provider yields and platform points This follows Morpho's recent yield improvements, with some markets reaching up to 82.7% APY through maximum looping strategies. The PT-csUSDL market currently offers: - Fixed APY: 11.8% - Borrow APY: 5.21% [Access the market on Morpho](https://app.morpho.org/ethereum/market/0x78f475027e780e2cf62a9dc347c4f7aa61d20a1e16534ffe1c52fe3e69bbf469/wrapped-lp-tusde-25sep2025-usdc?tab=market)

Pendle team launches Boros on Arbitrum, enabling on-chain trading of BTC and ETH funding rates from Binance perpetual markets. The platform introduces Yield Units (YUs) for trading funding rate exposure. Key features: - Initial $10M cap per market - 1.2x leverage limit - PENDLE incentives for traders - Liquidity provision through Boros Vaults Platform aims to expand to: - More assets (SOL, BNB) - Additional exchanges (Hyperliquid, Bybit) - Real-world assets Risk management is prioritized during initial phase, with gradual expansion of limits planned over 8-12 weeks. [Try Boros now](https://boros.pendle.finance/markets)