HomeDeFiPendle Finance launches its first product based on real world assets (RWA)

Pendle Finance launches its first product based on real world assets (RWA)

Pendle Finance, the DeFi project, launched its first product based on real world assets (RWA), combining MakerDAO’s Boosted Dai Savings (sDAI) and Flux Finance’s fUSDC stablecoin. 

Pendle Finance and its first RWA product

Yesterday, Pendle Finance announced the launch of its Pendle RWA, the first product of the DeFi project based on real world assets

In essence, Pendle Finance offers users returns in the form of tradable tokens, and with its new RWA product, it wants to offer additional sources of income for its users from traditional sectors.

Specifically, the new Pendle RAW uses MakerDAO’s Boosted Dai Savings (sDAI) and Flux Finance’s fUSDC stablecoin. Not surprisingly, both generate returns from traditional financial sectors. 

Pendle Finance: tokenization of RWA and DeFi

This seems to be a time when we are seeing a rise in the Real-World Asset (RWA) trend

Granted, when RWA tokenization meets DeFi, the situation is all up for interpretation. 

Indeed, RWA tokenization revolves around creating a virtual investment mechanism tied to tangible assets such as real estate, precious metals, artwork and collectibles. 

Bringing RWA into DeFi means on-chain access to traditional financial instruments such as US Treasury bonds and the ability to distribute these tokenized assets for use in decentralized applications (dApps).

On X (Twitter), TN Lee, co-founder and CEO of Pendle, was quoted as saying as follows: 

PENDLE records +10% price pump in last 24 hours

After yesterday’s announcement, Pendle Finance (PENDLE) recorded a +10% price pump, with the price touching $0.62. At the time of writing, PENDLE is worth $0.59

In early July, PENDLE had been listed on Binance, leading its price to swing like a “roller coaster.” 

And indeed, within five minutes of trading on the popular crypto-exchange, PENDLE jumped from minus $0.80 to nearly $1.3. But immediately 15 minutes later, PENDLE returned to $1 and then to $0.80 later in the day. 

In fact, PENDLE debuted in the crypto market in May 2021, and that is at the height of the speculative bubble. 

At the time of writing, PENDLE is ranked 236th overall crypto by market capitalization, with a total market cap approaching $140 million.

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.