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- Pendle discontinues Earn UI to streamline the platform and prioritize Pendle V3 development.
- Whale activity highlights significant PENDLE token movements on Binance after six months of inactivity.
After receiving a lot of attention in recent weeks, Pendle has announced another improvement to its ecosystem. 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 discontinue the Earn UI.
This move is consistent with their goal of prioritizing and accelerating 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.
🔹Transition Timeline: Earn isn’t…
— Pendle (@pendle_fi) July 15, 2024
Pendle announces the transition from Earn to the new standard trading interface
Earn’s transition schedule indicates that it will not disappear immediately. It will be accessible for a limited time via the drop-down menu in the top right corner of the application.
However, there will be no new listings published in the Earn user interface. When you start the Pendle app, Trade will be the default page, which represents a major change to the user interface.
Despite the UI change, all deposits made via Pendle Earn will remain accessible via the Pendle UI dashboard, formerly known as the Pendle Trade UI.
Users can rest assured that earnings will continue to grow and that all existing Earn positions will remain intact. In addition, Earn’s external products and integrations will continue to be accessible via the Pendle SDK, preserving the adaptability of the ecosystem
Earlier this month, as we previously reported, Pendle’s Total Value Locked (TVL) in DeFi fell by 42 per cent due to the maturation of restoration pools, resulting in reduced returns and ETH changes.
However, this has not had a substantial impact on the price of the token. On the contrary, the SpotOnChain platform has highlighted whale activity as the price seeks to recover in the last 24 hours, at the time of writing.
Whale Activity Highlights Significant Token Movements on Binance
According to the platform, a whale withdrew 851,298 PENDLE (worth $3.73 million) from Binance after six months of inactivity with the token. This whale currently owns 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, up 5.55% over 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.
Furthermore, CNF reports that Arthur Hayes, co-founder of BitMEX, believes the PENDLE token has substantial long-term growth potential.
