- Arthur Hayes' Losses Selling PENDLE
- Pendle Teams Up with SolvProtocol and Corn
- What is Pendle (PENDLE)?
Arthur Hayes, founder and former CEO of BitMEX, reported significant financial losses when selling Pendle (PENDLE) tokens.
Arthur Hayes' Losses Selling PENDLE
Today, Arthur Hayes lost $790,000, selling 350,000 PENDLE tokens worth $1.26 million at a 36% loss. According to Lookonchain, Hayes bought over 392.9 PENDLE worth around $2.2 million at an approximate price of $5.6 per token from May to June via Wintermute trading firm. Currently, PENDLE is trading at $3.65, up by 5% over the past 24 hours.
Pendle Teams Up with SolvProtocol and Corn
On September 19, the Pendle team announced a partnership with SolvProtocol and Corn to launch SolvBTC.BBN on December 26. SolvProtocol is building the Decentralized Bitcoin Reserve, while Corn is an Ethereum L2 using BTC as a gas token. Key integrations of SolvBTC.BBN include DEXs, lending protocols, and yield-trading protocols.
What is Pendle (PENDLE)?
Pendle is a protocol within the DeFi ecosystem that enables tokenization and trading of future yield. The protocol separates the ownership of an asset from its future yield, creating new financial instruments for trading on the Pendle platform. At its core, Pendle features an Automated Market Maker designed to support assets with time-decaying yields.
In summary, Arthur Hayes experienced significant losses selling PENDLE tokens despite their recent value increase. Meanwhile, Pendle continues to develop partnerships and technologies in the DeFi space.
Comments