# Binance recently listed the LSDfi project Pendle.

By [Street Corner Store.](https://paragraph.com/@street-corner-store) · 2023-07-06

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On July 3rd, Binance announced that Pendle would be launched on its innovation zone at 18:00, becoming the 35th project on Binance Launchpool. Mining would commence on July 4th at 8:00.

Here is a quick overview of key information about Pendle:

Pendle is a permissionless yield trading protocol where users can execute various yield management strategies.

Yield assets are divided into Principal Tokens (PT) and Yield Tokens (YT), allowing users to earn fixed or flexible yield on the Pendle v2 AMM.

Use cases for the native utility token, PENDLE, include:

*   Liquidity bootstrapping: PENDLE rewards are used as incentives to bootstrap protocol liquidity.
    
*   Incentivization channels: Locking PENDLE as vePENDLE for up to 2 years to vote on emission reward directions for different pools.
    
*   Fee accrual: vePENDLE holders can accrue fees from two revenue sources:
    
    *   Swap fees generated on the Pendle AMM for all options.
        
    *   Fees on Yield Tokens (YT): Pendle charges a 3% fee on all yields generated through YT, with 100% being redistributed to vePENDLE holders.
        

The Pendle protocol consists of the following main components working together:

*   Yield tokenization: Underlying yield tokens are wrapped into Standardized Yield Tokens (SY) and then split into Principal Tokens (PT) and Yield Components (YT).
    
*   Pendle v2 AMM: A capital-efficient design model that allows PT and YT swaps using a single liquidity pool through flash swaps.
    

Funding and token distribution:

*   PENDLE raised $3.7 million in a seed funding round in April 2021, accounting for 14.9% of the total supply, with a Fully Diluted Valuation (FDV) of $35 million.
    
*   As of June 30, 2023, the total supply of PENDLE is 251 million PENDLE tokens, with a circulating supply of approximately 140 million tokens (around 56% of the total token supply) after listing.
    
*   The weekly emission rate as of June 2022 is 455,000 tokens, decreasing by 1.1% weekly until April 2026. At that point, the current tokenomics allows for a final inflation rate of 2% per year as an incentive measure.

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*Originally published on [Street Corner Store.](https://paragraph.com/@street-corner-store/binance-recently-listed-the-lsdfi-project-pendle)*