Pendle Hits Record $8.3B TVL Following Launch of Boros Yield-Trading Platform
Pendle Finance has hit an all-time high total value locked (TVL) of $8.27 billion, as traders pile into its newly launched yield-trading platform, Boros, pushing weekly gains for its native token PENDLE to 45%, now trading at $5.60.
Launched earlier this week, Boros introduces Yield Units (YUs)—on-chain assets that allow users to long or short funding rates. The platform effectively turns crypto funding rates into tradable instruments, offering new hedging and yield capture strategies at a time when bitcoin’s average funding rate sits around 10% annualized, with over $80 billion in open interest, per Dune data.
Within its first 48 hours, Boros attracted over 283 WETH (~$1.1M) and 6.4 WBTC (~$750K) in deposits. Usage also surged on Pendle’s Arbitrum deployment, with active wallets climbing to 1,428, well above monthly averages. On-chain data from TheTie also showed a sharp rise in decentralized exchange (DEX) activity from both buyers and sellers.
While Boros currently focuses on BTC and ETH funding rates, Pendle plans to expand support to other floating-rate instruments, such as staking yields and tokenized U.S. Treasurys.
The platform’s momentum has also been boosted by its recent integration with the Hyperliquid ecosystem, where Kinetiq’s kHYPE token has attracted $221 million in TVL, becoming the leading liquid staking asset on HyperEVM.
The surge in Pendle’s growth outpaced broader market gains. Over the past week, PENDLE significantly outperformed the CoinDesk 20 Index, which rose 13.15% over the same period.
