Pendle on Avalanche

Pendle Team

Published in

Pendle

3 min readNov 4, 2021

Just in time for ski season, the Pendle crew is joining the Avalanche party!

The goal: increase the richness and depth of the AVAX trails by building a Yield Layer for the community.

Pendle is the first yield trading protocol on Avalanche, allowing users to:

Lock and receive future yield immediately
Accumulate leveraged yield exposure

The first Avax native protocols that we’ll be supporting will be revealed in the coming days, stay tuned!

Improvements for the Launch

For the Pendle Community, this launch on Avalanche comes with some drastic improvements to look forward to. We’re sailing down the mountain with upgraded equipment — 1 click wrappers, single asset claims and drastically lowered fees.

Since going live 4 months ago, we’ve been pleased to see the protocol working as intended with Pendle AMM settling more than $100m in notional trades via YT.

However, there are 2 issues we are tackling with this launch:

Complexity for users. Pe,P for instance, takes 4 steps to complete.
High fees make it expensive for users to experiment on ETH.

Reducing the Complexity and Fees will remove a big barrier to entry for new users to try the protocol and for others to experiment on various trading strategies.

400x Cost Improvement

Alongside the launch, we’ll be introducing Zap functions to simplify actions on our app.

This, alongside the lower fees on Avalanche should reduce gas cost by approx ~400x. The entire Pe,P process on Ethereum costs ~$800 and according to our simulation, costs ~$2 on Avalanche. We hope that this, coupled with the Zap functions will improve the overall user experience on Pendle.

Pendle on Anyswap!

Pendle bridging is live, PENDLE holders may bridge to Avalanche at your convenience.

To bridge PENDLE:

Visit https://app.multichain.org/#/router
Select PENDLE
Click on Swap!

Pendle on TraderJoe!

PENDLE/AVAX pool is open on TraderJoe. Get your Pendies while they’re hot!

In the meantime, visit https://traderjoexyz.com/#/trade?outputCurrency=0xfB98B335551a418cD0737375a2ea0ded62Ea213b to trade PENDLE, or alternatively:

Visit https://traderjoexyz.com/#/trade
Select PENDLE (0xfB98B335551a418cD0737375a2ea0ded62Ea213b) and AVAX as trading pairs

To provide liquidity, visit https://traderjoexyz.com/#/pool/AVAX/0xfb98b335551a418cd0737375a2ea0ded62ea213b to access the PENDLE/AVAX liquidity pool.

Deeper Dives

For newcomers, we provide a deeper look into some use cases:

Basics!
Case study — Immediate return of 18% on $300k capital
YT Capital Efficiency — Leveraged yield exposure without liquidation risk

This is the beginning of Pendle’s cross-chain expansion to grow the community and enable a larger audience to participate in the protocol. We’re excited to observe the different yield strategies that users might come across.

There will be more details on key launch dates, launch partners, supported assets, and various community events. If this is your first time stumbling upon Pendle, do join our Discord channel and follow our Twitter to keep up!

About Avalanche

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try an app on Avalanche today.