TechFlow reports that DeFi platform Pendle has launched a new product offering variable yield pools with returns as high as 45% for Bitcoin (BTC)-backed tokens, alongside a fixed annual yield option of 10%.
Users can deposit LBTC (Lombard's liquid staking token) into a Pendle pool built on Corn, an Ethereum L2 network. The pool has attracted over $13 million in deposits since launch and will mature on December 26.
Pendle CEO TN Lee said the company aims to replicate the success of ETH fixed-income products for BTC. Pendle achieves high yields by splitting DeFi protocol investments into Principal Tokens (PT) and Yield Tokens (YT).
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