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- A TLDR On Boros By Pendle
DeFi Dad and I have been following Pendle closely since spring 2023, and recently, we've been awaiting news on Pendle V3. Yesterday, we finally got an update: Pendle V3 has officially become Boros. We’ve put together a TLDR of their announcement. If you have time, check out their full announcement blog here. Otherwise, read on below!
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Pendle introduces Boros, a groundbreaking platform set to bring yield trading to new heights with margin trading and capital-efficient access to both onchain and offchain yields, including untapped funding rates. By empowering traders to hedge and leverage funding rates effectively, Boros redefines yield strategies in DeFi. Operating alongside Pendle V2, Boros offers market makers and crypto funds flexible, scalable solutions for managing yield volatility, while the Pendle ecosystem retains its value focus on PENDLE and vePENDLE tokens.
Key updates:
No New Tokens: Boros doesn’t introduce new tokens or alter PENDLE’s tokenomics. Meaning, PENDLE and vePENDLE will continue to be the focus of value accrued from both Boros and V2.
Airdrop for vePENDLE Holders: An airdrop is scheduled for individual vePENDLE holders, with a snapshot on Dec 31, 2024. Here’s a glimpse at airdrop rewards:
Revenue Sharing: Protocol revenue will allocate 80% to vePENDLE, 10% to the treasury, and 10% to operations.
Fee Optimization: Adjustments to V2 and protocol fees aim to support growth and sustainability.
Pendle’s V2 created a core engine for onchain yields like staking, restaking, RWA, and BTCfi. Now, with Boros (meaning “to eat” in Greek), Pendle targets aggressive growth by capturing diverse yield types. As Boros’ launch approaches, Pendle will keep the community informed and welcomes feedback to strengthen the ecosystem.
Bonus: Here’s a few our favorite episodes featuring the Pendle team, including a recent new Yield Talks diving into a first look at Boros before it launches!
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