Ms.Mora(🧀,🧀)

Existing in a cryptocurrency bubble makes it easy to lose perspective of how small we are compared to the larger financial space. Even after establishing our foothold in the top 10 DeFi protocols and the de facto protocol in the yield category, Pendle's 2024 trading volume would only account for 0.007% of global interest rate swap volume. DeFi still exists in a vacuum, with only a few protocols flirting with TradFi at the edges. There is still much room to grow. In 2025, Pendle will focus on breaking free from this insular mindset. We have been working with major institutional players to forge new opportunities, establishing Pendle as the premier source of fixed yield opportunities. Mission "Citadels" is our multi-pronged approach, initially targeting institutional investors and Islamic funds. These specialized vehicles with tailored KYC and compliance measures unlock inflows from those interested in our products, providing access to a previously untapped audience. With "Citadels", Pendle acts as the fixed yield infrastructure for institutions, like banks act as the infrastructure for credit. You get to be a part of it - fully on-chain. Job's not done, but it'll be. Pendle.