Justin Sun Converts Lido ETH into Pendle StETH
CryptoNewsTerminal Staff07 Jun, 2024
Justin Sun Converts Lido ETH into Pendle StETH
On-chain analyst ai_9684xtpa recently reported that "Justin Sun, the founder of Tron (TRX), has deposited all his ETH withdrawn from Lido into Pendle. He’s deposited a total worth of 539k ETH ($250M) to Pendle so far." Pendle is a decentralized platform that allows users to create and trade synthetic assets. The platform is non-custodial, meaning that users maintain control of their assets at all times. Pendle offers users a number of benefits, including: Access to a wide range of synthetic assets The ability to trade synthetic assets with leverage The ability to create custom synthetic assets Minimal fees Justin Sun's decision to convert his Lido ETH into Pendle StETH is a sign of the growing interest in decentralized finance (DeFi). Pendle is well-positioned to benefit from the growth of DeFi, as it offers users a number of unique features and benefits.
