1/ We worked with the @pendle_fi team to build the risk stack for @boros_fi, the first onchain protocol for trading funding rates. This required new frameworks, including dynamic margin models, auto-deleveraging mechanics, and real-time risk monitoring.

words cannot express my joy at boros launch pls enjoy this interpretive dance “juicy juicy yields” pendle

The new $PENDLE Boros is a really interesting product that I think markets are still struggling to understand its significance. E.g.: Over the weekend, BTC was being aggressively shorted with a -3% funding rate. You think a short squeeze will happen and longed $BTC - you would have lost money due to spot selling that brought down prices and brought up the funding rate. If you decided to go long the YU on Pendle Boros instead, you would have been paying -3% and receiving 10% apy while getting capital appreciation in BTC terms. This is a big unlock for large yield-bearing stables to smooth out earnings even when funding rates are negative. The next steps for this product will likely be increasing the OI available to get more trading fees.

The moment has arrived. @boros_fi by @pendle_fi is live. You can now trade funding rates onchain. Everything you need to know about Boros. 🧵

This is a great example of why TradFi likes to explore opportunities on DeFi. You may say wtf. TrafFi market is hitting the sealing. We have so many potential onchain financial market untapped for many reasons. Crypto is so small yet, but we know money onchain will not or does not want to move back to offchain. It is not about privacy but it is about how easy we can move our money one platform/product to another at a much lower cost. Once we have sufficient products and liquidity around them, everything will flow into onchain financial market. Crypto is the future of finance

Boros is now live. A new platform to trade funding rates, starting with Binance perp markets (BTC & ETH), with more exchanges and markets coming soon. This unlocks an untapped yield source in crypto, and for the first time, gives institutions and protocols like @ethena_labs a way to hedge funding risk at scale. There’s no TradFi or DeFi precedent for this. We’re building from zero, and going to one will take time. But this is how new primitives are born. Job's not done!

Introducing Boros, Pendle’s new platform for trading funding rates 🔗

wow I can't stop watching this #OddlySatisfying

APPROACHING TERMINAL VELOCITY

HYPE showed us crypto with infinite buy-side demand. kHYPE gave it yield and points. PT-kHYPE transmuted points into more yield and made it fixed. With @hyperlendx, we have the opportunity to package all the above into what the people REALLY want. 35% APY on HYPE LESKOOO 👇