Binance, one of the world’s leading cryptocurrency exchanges, has recently announced the addition of Pendle (PENDLE) as the 35th project on its Launchpool platform. Pendle is a unique yield-trading protocol that allows users to separate a yield-bearing asset into its principal and yield components, enabling them to earn fixed or flexible yields.
Introducing Pendle $PENDLE on #Binance Launchpool!
Farm PENDLE by staking #BNB and $TUSD.
Get started ➡️ https://t.co/ZkEedUl3K1 pic.twitter.com/XlT4Hoba4F
— Binance (@binance) July 3, 2023
Detail On Binance PENDLE
The launch of Pendle on Binance Launchpool is scheduled to take place soon, with the webpage estimated to be available in approximately four hours. Users will have the opportunity to stake their Binance Coin (BNB) and TrueUSD (TUSD) tokens separately into designated pools to farm PENDLE tokens over 25 days. The farming process is set to commence at 00:00 (UTC) on July 4, 2023.
Here are the key details regarding the Pendle Launchpool:
- Token Name: Pendle (PENDLE)
- Total Token Supply: 251,061,124 PENDLE
- Launchpool Token Rewards: 5,021,222 PENDLE (equivalent to 2% of the total token supply)
- Circulating Supply: Currently at 140,192,253.58 PENDLE, representing 56% of the total token supply
- Smart Contract Address: The Pendle tokens are built on both the Ethereum and Arbitrum networks, providing users with flexibility in their choice of platform.
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It is important to note that there is no upper limit on the amount of BNB and TUSD that users can stake, allowing participants to contribute as much as they desire. However, it is worth mentioning that undergoing the Know Your Customer (KYC) verification process is a prerequisite for participating in the Pendle Launchpool on Binance.
Benefit of PENDLE
The addition of Pendle to Binance Launchpool offers users a chance to engage with a promising project focused on yield trading and explore the potential of earning fixed or flexible yields. As the cryptocurrency ecosystem continues to evolve, Binance remains committed to providing its users with access to innovative and promising projects like Pendle.
Please note that the information provided above is based on the available details at the time of writing, and users are encouraged to refer to the official Binance Launchpool webpage and associated documentation for the most up-to-date and accurate information.