Pendle Finance Launches PT-weETH and PT-sUSDe, Offers 12% APY on Ethereum, and Sees 40% Price Surge

Pendle Finance has announced the launch of its principal tokens (PTs), specifically PT-weETH and PT-sUSDe, on the Term Structure platform, enhancing the utility of yield tokens. This initiative is part of Pendle's commitment to provide more utility for its users, including those using platforms like Lido Finance, Ether.fi, and Ethena Labs. Additionally, Pendle is offering a 12% fixed annual percentage yield (APY) on Ethereum ($ETH) through its platform, with maturity set for this month. The recent developments have positively impacted Pendle's market performance, with the token experiencing a 40% increase in value over the past 24 hours. Furthermore, Upbit, South Korea's largest cryptocurrency exchange, has announced its support for Pendle's won and Bitcoin markets, which is expected to enhance capital efficiency by allowing users to split yield tokens into principal and interest tokens based on Ethereum’s staking infrastructure. dYdX has also introduced a new market for Pendle, inviting users to explore the platform.