Pendle co-founder: will lead the construction of interest rate market infrastructure, promote yield price discovery and yield curve development.

BlockBeats news, on June 26, Pendle co-founder @tnpendle posted on social media stating, "The formation of the yield curve and interest rate market has become the next key leap. Pendle is at the core of this transition. Pendle is the first protocol in DeFi to achieve fixed income and yield trading, providing tools and platforms for the 'price discovery' mechanism of the crypto interest rate market. Currently, the fixed income of ETH and stablecoins on Pendle has returned from an early over 100% APY to a more sustainable 3–15% fixed Annual Percentage Rate, reflecting that market demand is gradually stabilizing, and capital flow is becoming more reliable, indicating that DeFi is maturing. At the micro level: incentive mechanisms and democratization of early participation. Pendle's dual-token mechanism (PT & YT) is not only used for yield separation but also becomes a key platform for launching liquidity and incentive distribution for emerging protocols. Users can earn airdrops and incentive expectations through YT, while PT provides certain returns. This structure provides clear yield pricing signals to the market. At the macro level: building an on-chain DeFi yield curve. Just as TradFi uses the yield curve to gain insights into macro trends, Pendle is building a similar framework for the crypto market. Through on-chain trading of interest rates with different maturities, users can observe short-term and long-term yield expectations, forming macro judgments on market liquidity, risk appetite, and more. The upcoming Boros module will introduce the world's first on-chain funding rate curve, providing DeFi with new interest rate tools and strategy space.