PENDLE Surges Following Mantle Integration; Avalanche Foundation Launches $50M Initiative for On-Chain Tokenization

Daily Top Performer — Pendle Protocol (PENDLE)

The US stock market is up 0.28% spurred by big tech earnings optimism and rising consumer confidence. The broader cryptocurrency market went up, with Bitcoin and Ether rising 0.32% and 0.59% respectively, in the past 24 hours. 

Today's outperformer is PENDLE, which surged 5.2% in the past 24 hours due to the protocol’s Twitter announcement of joining the Mantle Ecosystem.

Launched on June 2021, Pendle (PENDLE) is a tokenized yield protocol that enables investors to access a future asset's yield. When assets are deposited in Pendle, they get split into a principal token (PT) and a yield token (YT). This provides users with discounts on tokens or leverage up on the yield component, and ultimately apply various investment and yield strategies. 

Yesterday, PENDLE announced its integration into Mantle Ecosystem. The funding will be used to accelerate Pendle's efforts in expanding yield management capabilities within the Mantle, and to facilitate the development of an LST economy.

Check Out the Latest Prices, Charts, and Data of PENDLEUSDT!

Talk of the Town

The Avalanche Foundation has launched "Avalanche Vista," a $50 million initiative aimed at encouraging tokenization on the Avalanche blockchain. Tokenization enables off-chain assets to be converted into digital, on-chain tokens, simplifying transactions and democratizing asset allocation. This approach allows multiple investors to collectively invest in a single asset, which can make certain markets more accessible to smaller investors. Potential use cases for tokenization on Avalanche's blockchain include real estate, company equity, venture capital, debt instruments, intellectual property, and portfolio diversification. The Avalanche Vista fund will be used to buy various tokenized assets on the Avalanche blockchain.