Core Concept of Penpie
Penpie is a DeFi platform providing Yield enhancement services for Pendle users, built by Magpie upon the foundation of Pendle Finance
Pendle converts yield-bearing tokens into standardized yield tokens (SY) and separates them into principal tokens (PT) and yield tokens (YT). These tokens can be traded using a custom V2 AMM
How does Pendle Finance? benefit
Boost income for PENDLE holders - PENDLE holders have the option to convert their tokens into mPENDLE, allowing them to receive a share of the revenue generated by Penpie in the form of PENDLE & ETH.
Expanding a diverse user base - Risk-averse liquidity providers can achieve higher yields without the need of locking PENDLE and holding vePENDLE on their own. The vePENDLE holdings of Penpie allows the platform to provide depositors with boosted passive income.
Reducing the voting barrier - Penpie provides a cost-effective method for acquiring voting rights on Pendle Finance, facilitated by the vePENDLE accrued by the platform. Users can purchase PNP tokens and lock them on Penpie as vlPNP. This allows users to gain control over the vePENDLE accrued by Penpie, thereby having the right to influenence the governance of Pendle Finance. Also, this approach allows for maximized revenue sharing with shorter lock-up periods.
