Pendle Announces Earn Transition with New Default Trade Interface

After receiving a lot of attention in recent weeks, Pendle has announced another improvement to its ecosystem.

Pendle recently announced another development to its ecosystem, which has been garnering a lot of attention in recent weeks.

In a recent tweet, their team announced that, in their ongoing endeavor to streamline the platform for an optimal user experience, they have chosen to deprecate the Earn UI. This decision aligns with their goal to prioritize and accelerate the development of Pendle V3.

“Deprecation of Earn UI

GM Pendies, in our continuous effort to streamline our platform for the best experience, we’ve decided to deprecate the Earn UI.

This decision aligns with our goal to prioritize and expedite the development of Pendle V3.

Earn isn’t going anywhere just yet – it’ll still be accessible for a limited time via a drop-down menu in the app (top-right corner). However, there will be no new listings published to the Earn UI.

When you launch the Pendle app, Trade will now be the default page, which marks a big shift in the user interface.

Despite the UI change, any deposits you make through Pendle Earn will still be accessible via the Pendle UI Dashboard (formerly known as Pendle Trade UI). You can also expect that yields will continue to accrue, and all existing Earn positions will remain intact.

Lastly, external Earn products and integrations will still be accessible via Pendle’s SDK, preserving the ecosystem’s modularity.

As we previously reported earlier this month, Pendle’s Total Value Locked (TVL) in DeFi fell by 42% due to the maturing of restaking pools, which led to lower yields and shifts in ETH.

However, this had no significant impact on the token’s price. On the contrary, the platform SpotOnChain highlighted some whale activity as the token price attempts to recover during the last 24 hours, at the time of writing.

Whale Activity Highlights Significant Token Movements on Binance

According to the platform, one whale withdrew 851,298 PENDLE (worth $3.73 million) from Binance after six months of inactivity with the token. This whale now has 1.703 million PENDLE, valued at $7.51 million, with an unrealized profit of $2.76 million (or a 58.2% increase).

At the time of writing, the token is trading at around $4.59, showing an increase of 5.55% during the last 24 hours, with a trading volume of $81.28 million. Yesterday, this token led the list of top gainers in the major cryptocurrency market and on the Coinstore platform, outperforming SNX, PEPE, FET, and RSR.

In other news, CNF reported that Arthur Hayes, co-founder of BitMEX, expressed his belief that the PENDLE token has a lot of potential for long-term growth.

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