Pendle has opened up Boros, a brand new platform on Arbitrum that enables customers to immediately commerce the funding charges of bitcoin (BTC) and ether (ETH) perpetual markets.
Boros lets customers go lengthy or quick on funding fee publicity utilizing “Yield Models” (YUs), that are structurally much like Pendle’s current Yield Tokens. Every YU represents the realized funding yield on 1 unit of notional, resembling 1 ETH or 1 BTC, till expiry, providing a mechanism to invest or hedge towards altering funding situations on Binance and different main derivatives venues.
The platform launched with capped parameters of $10 million open curiosity per market and 1.2x leverage.
Further listings (together with SOL and BNB) and integrations (resembling Hyperliquid and Bybit) are deliberate, however the workforce has intentionally paced development to prioritize threat administration and system validation.
For merchants who pay or earn funding charges on CEXs, Boros presents a brand new hedge: quick YU if funding is predicted to fall; lengthy if charges are projected to spike.
Liquidity provisioning can also be in focus. Boros Vaults will enable LPs to provide capital to the system and earn swap charges, PENDLE incentives, and optimistic carry from favorable shifts in implied APR.
These vaults mirror Pendle’s fastened yield vaults and are anticipated to drive protocol-side liquidity bootstrapping in early phases.
PENDLE incentives shall be distributed professional rata to order circulation and notional stuffed, with an open referral program and payment rebates set to comply with within the coming weeks.