Pendle announced the launch of Boros, a new on-chain platform that supports trading and hedging against BTC and ETH perpetual contract funding rates on Binance, expanding its yield trading ecosystem. Users can leverage Yield Units (YUs) to bet on funding rates or hedge effectively. Boros initially has a $10 million open interest limit and supports up to 1.2x leverage. Future expansion plans include support for more assets (such as SOL and BNB) and integration with Hyperliquid and Bybit.

Pendle CEO TN Lee stated that the funding rate market boasts $150-200 billion in daily trading volume, but previously lacked scalable on-chain tools. Boros fills this gap and provides a hedging tool for neutral strategy protocols like Ethena that rely on funding rate stability. Currently, Pendle's total locked-in value has exceeded $7 billion. Boros and Pendle V2 are jointly building a yield trading infrastructure that will support a variety of yield sources, including real-world assets such as bonds and stocks.