Pendle has announced the launch of the Boros platform. Designed to support on-chain funding rate trading and hedging, the platform will initially support Bitcoin and Ethereum perpetual contract funding trading on Binance. Users can participate in this market using leverage, enabling directional trading of funding rates or risk hedging.

Pendle's TVL has already surpassed $7 billion. The Boros platform will launch with a $10 million open interest cap and 1.2x leverage. Future support will include the addition of more assets like SOL and BNB, as well as integrations with Hyperliquid and Bybit. Liquidity providers can also earn PENDLE incentives, trading fees, and other benefits through Boros Vaults.

TN Lee, CEO and co-founder of Pendle, said Boros provides a scalable, permissionless way to hedge and trade funding rates. Boros's underlying architecture is designed to support various forms of yield, including yield from DeFi protocols, traditional finance, and off-chain assets.