Aug 6, 01:30 PM

Pendle Launches Boros to Trade BTC, ETH Funding Rates On-Chain

Pendle Finance has unveiled Boros, an on-chain derivatives venue built on Arbitrum that lets traders speculate on and hedge the funding rates paid on bitcoin and ether perpetual futures. The platform converts funding yield into transferable “Yield Units,” allowing users to take long or short positions on the expected direction of the rate. To manage risk during the rollout, open interest is capped at $10 million per market and leverage is limited to 1.2 times notional value. The launch extends Pendle’s push into yield-based products days after the protocol’s total value locked reached a record high. Pendle is offering PENDLE incentives to early users and says it intends to raise position limits and add markets for additional crypto pairs, bonds, equities and other real-world assets once the system proves stable. Boros arrives as decentralised exchanges widen their derivatives line-ups. Later in the day, PancakeSwap began offering fully on-chain perpetual contracts tracking Apple, Amazon and Tesla shares on BNB Chain with up to 25-times leverage, underscoring the sector’s drive to blend traditional and crypto markets.