Huge news for all funding rate traders. @pendle_fi has launched Boros @boros_fi, a new onchain platform on Arbitrum that lets users trade funding rates from CEX perps like Binance, rather than the price of assets like $BTC or $ETH. Instead of speculating on price direction, Boros introduces Yield Units (YUs, similar to YTs on Pendle), YU-ETH represents the funding yield from 1 ETH perp, allowing users to go long if they expect funding rates to rise or short if they expect them to drop. This unlocks a new layer of strategy, especially for protocols like @ethena_labs, with an almost $10B TVL, relying on positive funding rates to generate stablecoin yields and can now hedge more efficiently without complex OTC setups. Early traction is strong with $800k already deposited into Liquidity Vaults. With $10M OI caps per pair (BTC/ETH only for now), 1.2x leverage, and support expanding soon, Boros may not be retail-friendly yet, but I already plan to prepare a couple of posts on how we can hedge our positions there. Furthermore, there is no 2nd token, which makes $PENDLE even more valuable as it will be used for incentives and all trading fees acquired by the protocol. A huge milestone not just for Pendle, but for the entire crypto space. Truly excited for the team and wishing them massive success ahead.