Very significant launch by @pendle_fi. Combined with Pendle's existing PT/YT mechanism for on-chain yields, Boros now covers off-chain yields (CEX funding rates). Perps traders will be able to lock in funding rate costs. Could be very useful for @ethena_labs one day, who could potentially lock in future funding rates by longing YUs when rates are attractive. This transforms variable funding income into fixed income for specific periods. During periods of negative funding (like bear markets), Ethena could have pre-hedged by shorting YUs. This would offset losses from paying funding, stabilizing USDe's yield, and would help to stop the supply contracting during risk off periods (would stop the fudoooors). Obviously early days, and it needs to become battle tested, but think this is a big launch for crypto as a whole. There is still only one token too - $PENDLE Elite team, elite protocol.