What is Pendle (PENDLE)?

Pendle is a DeFi trading protocol for tokenized yield-bearing assets. Users can tokenize and trade their assets and yield separately on Pendle’s native AMM and liquidity pools to earn incentives. It facilitates the tokenization of the TradFi interest derivative market by bringing assets together using DeFi and blockchain, giving holders more control over their principal asset and its yield. 

PENDLE is its native token that operates on ERC-20 standards. Its owners can lock their PENDLE holdings in the platform’s staking protocol to receive vePENDLE (vote-escrowed PENDLE) and use it as the governance token to vote in the network decisions and developments. Holding vePENDLE also boosts the owners' staking rewards. PENDLE has a capped supply of 258.4 Million with 92.5% of it in circulation. 

How Does Pendle (PENDLE) Work?

Pendle mainly caters to yield-generating assets. It converts the asset into SY (Standardized Yield), a token standard written by the Pendle team that wraps any yield-bearing asset and provides a standardized interface. It is a purely technical component with no direct interaction with users. It only makes the asset functionalities compatible with the Pendle AMM (Automated Market Maker) liquidity pool. The next step involves splitting SY into Principal Token (PT) and Yield Token (YT) components. For example, a user’s one stETH (Lido’s Liquid Staking Token) would become SY-stETH equivalent to PT-stETH + YT-stETH in the Pendle ecosystem. While PT-stETh denotes the initial amount of staked Ether,  YT-stETh is all the staking rewards accrued by that stETH. The user owning both components can redeem the underlying assets at any time.

Pendle's Automated Market Maker (AMM) serves as the central component of the ecosystem, offering a platform for trading and swapping Principal Tokens (PTs) and Yield Tokens (YTs). Investors purchasing YTs are essentially betting that the yield will exceed the projected Annual Percentage Yield (APY), profiting if the yield meets or surpasses this expectation. Conversely, the opposing side typically consists of liquidity providers on Pendle, who take a short position on the yield.

The last component of the Pendle ecosystem is the vote-escrowed token, vePENDLE, that users get for locking their PENDLE tokens. The vePENDLE token gives its holder platform’s governance rights and some incentives. 

How to Buy Pendle (PENDLE) in India?

There are many platforms where you can invest and Buy PENDLE in India.

One such platform is Flitpay. To buy PENDLE in INR, you have to sign up to Flitpay, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy PENDLE crypto and execute the purchase.

You can instantly convert your INR to PENDLE and PENDLE to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After Buying Pendle (PENDLE) crypto?

PENDLE can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the PENDLE till it reaches a high price, and then you can sell it through Flitpay's OTC order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.
 

FAQs

What is Pendle (PENDLE)?

PENDLE is the native token of the Pendle. Users stake it to earn network incentives and earn voting rights in the form of a vePENDLE token. They even hold vePENDLE to boost their staking rewards. PENDLE has a capped supply of 258.4 Million PENDLE.
 

What is the Pendle (PENDLE) price in India?

Check out the INR price of PENDLE in India today on Flitpay.

Which is the best cryptocurrency exchange in India to buy PENDLE?

Flitpay is the best cryptocurrency exchange in India to buy PENDLE, buy Uniswap, or your favourite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

How to buy PENDLE crypto in India?

You can easily buy PENDLE in India on the safest crypto exchanges like Flitpay, with the lowest fees.

To buy PENDLE coin in India:

1. Register on Flitpay and create an account.
2. Verify your identity through Know-your-customer (KYC)
3. Add INR or Fiat currency, corresponding to the amount of PENDLE you want to buy.
4. Instantly buy PENDLE with the deposited funds.

What are the benefits of Pendle (PENDLE)?

Pendle (PENDLE) provides owners of yield-bearing assets with investment flexibility and more control over their principal asset and its yield. It enables the tokenization and separates trading of yield-bearing assets. This tokenization process, facilitated by Pendle's native AMM and liquidity pools, allows users to earn incentives while maintaining ownership of their principal assets and yields. Its native token, PENDLE, empowers holders to participate in network decisions and developments through voting rights.

Is it safe to invest in Pendle (PENDLE) in India?

Yes, investing and trading PENDLE is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying PENDLE crypto. It offers real-time prices and advanced investing features.

Where can I deposit and withdraw Pendle (PENDLE) crypto in India?
Your search for secure crypto deposits and withdrawals ends here. Flitpay is India's most trusted exchange to facilitate hassle-free and Instant deposits and withdrawals of all the top cryptocurrencies with minimal or no fees.