| Dec, 2023 |
Case Study Ethereum’s Shapella upgrade in April 2023 has contributed to the massive growth in ETH staking — the act of depositing ETH to secure the Ethereum network, earning rewards in return. Correspondingly, there has also been significant growth in liquid staking derivatives (“LSDs”), an instrument which allows users to earn these staking rewards while retaining liquidity of the staked assets. Pendle is a yield-stripping DeFi protocol, splitting yield-bearing assets into Principal and Yield tokens. |
