Pendle expands yield opportunities for Bitcoin holders with new BTC pools

Key Takeaways

• Pendle has introduced BTC pools to provide enhanced yield strategies for Bitcoin holders.
• The platform's integration with Corn's LBTC and other BTC variants signifies its adaptability in the DeFi market.

Pendle, known for its success in ETH-centric DeFi narratives, is expanding into Bitcoin yields by introducing new BTC pools, providing Bitcoin holders with access to enhanced yield strategies and fixed yield trading opportunities.

Pendle’s strategic expansion into Bitcoin yields comes at a time when interest in BTC staking and yield opportunities is rapidly gaining momentum. The platform, which has successfully positioned itself in narratives such as liquid staking (LST), liquid restaking (LRT), and Arbitrum, is now entering a new vertical with the introduction of BTC pools.

This move aligns with the growing hype around BTC yield strategies, most notably the rise of Corn, an innovative Ethereum Layer 2 network that uses Bitcoin for gas fees and economic incentives.

New layer for yield strategies

The expansion allows BTC holders to access a new layer of enhanced yield strategies, unlocking fixed yield and yield trading potentials for BTC for the first time on the platform. This development further diversifies and deepens opportunities for Bitcoin holders in the DeFi space.

“We’re excited to be working with various BTC yield protocols to unlock new opportunities for their users with Pendle. We’ve seen major use cases with fixed yield for ETH, and we’re aiming to replicate the same success with BTC as well,” shares TN Lee, CEO of Pendle.

Pendle’s flexibility as a yield tokenization platform has allowed it to stay agile and capture numerous hot trends and narratives, from ETH liquid staking to the current rise of BTC yields and even memecoins such as PEPE. The platform’s adaptability and compatibility with almost every yield product in the crypto space have positioned it to capitalize on emerging opportunities in the Bitcoin yield market.

Corn’s liquid BTC

Corn’s LBTC, now available on Pendle, represents a major collaboration between leading BTCfi players. Powered by Lombard, LBTC enables liquid BTC staking on Babylon, a BTC-focused restaking infrastructure layer. By depositing LBTC on Corn, users can participate in Corn’s pre-launch campaign, earning Kernels that can later be redeemed for the $CORN airdrop. In addition to Corn LBTC, EtherFi’s eBTC is also available on Pendle, with additional BTC listings such as Bedrock uniBTC, Solv solvBTC, and PumpBTC on the horizon.

The concept of liquid Bitcoin staking is gaining traction as it allows Bitcoin holders to earn rewards while maintaining the liquidity of their assets. This innovative approach enables users to stake their Bitcoin without locking it up, thus allowing for participation in various DeFi activities.

When users stake their Bitcoin through a liquid staking platform, they typically receive a new token (e.g., stBTC) that represents their staked Bitcoin. This token can be traded or utilized in other DeFi protocols, unlocking the liquidity of the staked assets while still benefiting from staking rewards.