Bloomberg: New changes in Pendle Finance market strategy attract billions of dollars into cryptocurrency projects

According to Bloomberg, decentralized finance (DeFi) project Pendle Finance has attracted billions of dollars in assets through innovative market strategies. Pendle splits yield-bearing crypto assets into two types of tokens, similar to the strategy of separating principal and interest in the bond market. Although the platform has maintained a total locked value (TVL) of less than $250 million since its launch in 2020, it quickly attracted a large number of users through a loyalty points program similar to that of airlines, driving its locked asset value to skyrocket to $6.4 billion since January this year. However, this financial strategy has also raised concerns within the DeFi industry, with critics arguing that the financialization of points may increase market speculation and risk. For example, the EigenLayer project sparked controversy by initially excluding Pendle user points from token distribution. Pendle aims to expand its influence by introducing fixed-income assets from traditional financial markets, and although controversial, this innovative strategy has injected new vitality into the DeFi field.