Pendle Records $141.2 Million TVL on Monad
Prefer us on GooglePendle (PENDLE) has expanded its USDat-based yield trading market on Monad, recording a total value locked (TVL) of $141.2 million. The incentives provided at launch and the demand for yield trading are believed to have driven liquidity inflow. According to DefiLlama, Pendle's Monad TVL is reported at $141.2 million, surpassing $111 million within a month of its launch. Pendle is a decentralized finance (DeFi) protocol designed to allow users to trade the principal and future yields generated from deposited assets as Principal Tokens (PT) and Yield Tokens (YT), respectively. Monad is a Layer 1 blockchain compatible with the Ethereum Virtual Machine (EVM), ranking third in terms of active DeFi TVL, following Ethereum and Solana, while liquidity for yield trading protocols is also increasing. The key assets for this expansion are USDat and sUSDat, with Saturn describing USDat as a tokenized stablecoin backed by U.S. Treasury bonds. Pendle announced that it rose to the fifth protocol on-chain with three markets within a month of Monad's launch. The YT-USDat market, maturing on August 27, will distribute 470,000 MON as incentives over two weeks.
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