14Sep 2021

Pendle Finance Report

by Matthew Harcourt

Apollo Capital has always sought to provide transparent, clear information about the wonderful world of crypto assets.

In this 24 page report, we analyse Pendle Finance and the respective sectors of DeFi the project sits under; Yield Tokenisation and Fixed Rates.

Pendle Finance leverages the composable nature of DeFi to allow users to trade and receive fixed rates of interest on lending protocols and in liquidity pools. Pendle Finance’s design improvements from older fixed-rate protocols solve the major problems stifling these protocols from significant adoption.

While Pendle Finance is not without competition in the Yield Tokenisation sector, Pendle’s design choices make the protocol more useful and composable than competitors such as Element Finance. There are many ways in which users can interact with Pendle Finance to trade fixed rates and earn high yield through market neutral yield farming strategies.

We would like to thank TN Lee from the Pendle Finance team for the help and feedback received throughout this report.

We hope you enjoy our first Research Report. Please feel free to share it to others you think might be interested and we look forward to bringing you more Research Reports in future.

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Matthew Harcourt

Matthew has been actively investing in the crypto markets for 7 years and holds a Bachelor of Business from Monash University, majoring in Accounting. Matthew focuses on portfolio construction through thorough research and analysis of crypto protocols as well as execution of investments and strategies. Matthew’s passion lies in supporting portfolio companies through advisory on tokenomics and strategy, adding significant value to Apollo’s early-stage investments.