Pendle

Pendle is a DeFi protocol for yield trading that can be utilized on Ethereum, Arbitrum, BNB Chain, and Optimism. It was established by TN Lee and went live in 2021.Users can deposit tokens that yield interest into Pendle Markets. These tokens are then wrapped and divided into their principal and interest-bearing parts, allowing users to engage in various yield-trading strategies. Traders will be charged a swap fee every time they exchange yield-bearing tokens for their wrapped, principal, or yield-bearing components.PENDLE tokenholders have ownership and oversight of the protocol. They currently receive a portion of the total trading fees paid by traders as revenue.