Key points
- Pendle has introduced BTC pools to provide improved yield strategies for Bitcoin holders.
- The platform’s integration with Corn’s LBTC and other BTC variants signifies its adaptability in the DeFi market.
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Pendle, known for its success in ETH-focused DeFi narratives, is expanding into Bitcoin yields by introducing new BTC pools, giving Bitcoin holders access to enhanced yield strategies and fixed yield trading opportunities.
Pendle’s strategic expansion into Bitcoin yields comes at a time when interest in BTC staking and yield opportunities are rapidly gaining momentum. The platform, which has successfully positioned itself in narratives such as liquid staking (LST), liquid resttaking (LRT), and Arbitrum, is now entering a new vertical with the introduction of BTC pools.
This move aligns with the growing buzz around BTC yield strategies, particularly the rise of Corn, an innovative Ethereum Layer 2 network that uses Bitcoin for gas fees and economic incentives.
New layer for performance strategies
The expansion allows BTC holders to access a new layer of enhanced yield strategies, unlocking fixed yield and yield trading potentials for BTC for the first time on the platform. This development further diversifies and deepens opportunities for Bitcoin holders in the DeFi space.
“We are excited to work with several BTC yield protocols to open up new opportunities for their users with Pendle. We have seen significant use cases with fixed yield for ETH and we aim to replicate the same success with BTC as well,” shares TN Lee, CEO of Pendle.
Pendle’s flexibility as a yield tokenization platform has allowed it to remain agile and capture numerous trending trends and narratives, from liquid ETH staking to the current surge in BTC yields and even memecoins like PEPE. The platform’s adaptability and compatibility with nearly all yield products in the crypto space have positioned it to capitalize on emerging opportunities in the Bitcoin yield market.
Liquid BTC from Corn
Corn LBTC, now available on Pendle, represents a significant collaboration between the major BTCfi players. Powered by Lombard, LBTC enables liquid BTC staking on Babylon, a BTC-focused resttaking infrastructure layer. By staking LBTC on Corn, users can participate in Corn’s pre-launch campaign, earning Kernels that can then be redeemed for the $CORN airdrop. In addition to Corn LBTC, EtherFi’s eBTC is also available on Pendle, with additional BTC listings such as Bedrock uniBTC, Solv solvBTC, and PumpBTC on the horizon.
The concept of liquid Bitcoin staking is gaining traction as it allows Bitcoin holders to earn rewards while maintaining liquidity of their assets. This innovative approach allows users to stake their bitcoins without locking them up, allowing them to participate in various DeFi activities.
When users stake their Bitcoins through a liquid staking platform, they typically receive a new token (e.g. stBTC) that represents their staked Bitcoins. This token can then be traded or used on other DeFi protocols, unlocking liquidity for the staked assets while also benefiting from staking rewards.
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