There’s nothing more fleeting than DeFi yields. And let’s not talk about borrowing rates. But that’s about to change.

We’re incredibly excited to announce the integration of Pendle. With a TVL approaching $5B, the protocol has led the DeFi charge, and has been a key actor in the Liquid Restaking narrative, offering some of the most profitable composability options out there.

With this latest integration, Pendle’s fixed-yield collateral meets PWN’s fixed-term P2P loans. DeFi operators can now use their PT tokens as collateral on PWN and unlock the liquidity they need until their Pendle position matures.

Pendle

Pendle enables the permissionless tokenization and trading of yield, unlocking various strategies such as obtaining fixed yield, long crypto yields, or trade yields of any assets on Pendle. Things get even sweeter when PWN comes into the equation. PT tokens, with their fixed yields, align seamlessly with PWN’s fixed-term loans, offering predictable portfolio planning and optimal asset utilization.

Why use Pendle assets as collateral on PWN?

Leveraging Pendle assets on PWN opens up a world of opportunities for DeFi investors looking to maximize their capital efficiency while keeping exposure to premium yield.

• New liquidity: By using Pendle assets as collateral, you unlock P2P liquidity on PWN while still earning yield as your assets reach maturity.

• Fixed-yield collateral: Pendle's PT tokens’ fixed yield guarantees predictable returns and offset borrowing costs.

• Fixed lending terms: You’re free to choose the loan terms that best fit your strategy (APR, loan duration, borrowed asset, LTV). These won’t change for the whole loan duration.

• Zero price-based liquidation: With PWN, you can wait for maturity with peace of mind. The only way to lose your precious PT is to miss the repayment deadline.

• Multi-chain: PWN’s deployed on Arbitrum, Optimism, Ethereum, and BNB Chain. No PT tokens left behind.

• PT + LP: In addition to PT tokens, LP positions can be used as collateral on PWN for additional liquidity (or leveraged point farming if you’re into that).

HOW DOES PWN WORK?

ABOUT PWN

PWN is a peer-to-peer permissionless lending protocol. In the true spirit of DeFi composability, PWN users can borrow against—or lend using—any asset in their wallet (ERC-20, NFT, and even a bundle of both), while enjoying absolute flexibility on the loan terms (LTV, duration, APY, etc.). The oracle-less nature of the protocol protects all PWN loans from price-based liquidations. The only way to lose collateral is to default on a loan.

Operating on six EVM-compatible networks*, PWN opens up new liquidity avenues, composability options, and leverage opportunities, while giving its users both optimized capital efficiency and predictability on both sides of the loan. A win on all fronts.

*Ethereum, Optimism, Arbitrum, Base, Binance Smart Chain, Polygon, Cronos