Pendle Finance Raises $3.5 Million To Create A Secondary Market For DeFi Yields
By Luke F. - Crypto Broker - 16-04-2021
The company is developing a tokenization framework to help users better control their DeFi yields.
Pendle Finance, a decentralized finance protocol that allows users to tokenize and sell potential yields, has closed a $3.5 million private investment round to fuel the next stage of its platform's evolution.
CMS, DeFi Alliance, Lemniscap, Hashkey Capital, imToken, and Spartan Group were among the companies that contributed to the private investment round. Industry leaders from projects like Kyber Network and KeeperDAO are advising the team. The co-founder of Pendle, referred to as "TN," said that his platform allows users to trade the "ever-increasing yield" provided by DeFi products in a secondary market. He elaborated:
“Bringing greater visibility and control to yield markets is necessary for the maturation of the space.”
Pendle, which was founded in October 2020, has created a protocol that allows users to distinguish future yield from their base yield-bearing properties. Users can exchange future yield tokens using the platform's automated market creator, or AMM.
Users will sell their yield tokens in order to lock in gains and earn cash up front. They can also buy the tokens in order to gain exposure to fluctuating yields.
Due of its competitive yields and expanded access to peer-to-peer lending opportunities, DeFi has attracted a slew of new investors. Some of the most common DeFi lending protocols provide annual percentage yields in the high double digits. Depositors have earned hundreds of millions of dollars in incentives from these sites.
On CoinMarketCap, there are over 300 DeFi projects reported. Their total market cap is $119 billion, up 26.9%.
If you are looking to buy and sellBitcoin (BTC) but still searching for a trusted Bitcoin retailor, you can head over to BC Bitcoin where you can safely start investing in cryptocurrency and make your large Bitcoin purchases. You can also buy Ethereum (ETH) and other popular crypto when you register an account with BC Bitcoin today.
https://cointelegraph.com/news/pendle-finance-raises-3-5m-to-launch-secondary-market-for-defi-yields
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards