Pendle has opened Boros, a new platform in the referee that allows users to directly negotiate the financing rates of the perpetual markets of Bitcoin (BTC) and Ether (ETH).
Boros allows users to be long or short in exposure to the financing rate using “yus (yus) units, which are structurally similar to existing pendle performance tokens. Each YU represents the financing performance made in 1 notional unit, such as 1 ETH or 1 BTC, up to the expiration, which offers a mechanism to speculate or cover against changing financing conditions in Binance and other places of important derivatives.
The platform was launched with limited parameters of $ 10 million interest open by market and 1.2x of leverage.
Additional listings (including Sun and BNB and integrations (such as Hyperliquid and Bybit) are planned, but the team has made a deliberate rhythm to prioritize risk management and system validation.
For merchants who pay or obtain financing rates in CEXS, Boros offers a new coverage: Yu short if the funds are expected to fall; long if it is projected that the rates increase.
Liquidity supply is also focused. Boros vaults will allow LPS to supply capital to the system and gain exchange rates, hung incentives and positive transport of favorable changes in APRs implicit.
These vaults reflect pendle’s fixed performance vaults and are expected to drive the liquidity start on the protocol side in the early stages.
Pendle incentives will be distributed pro -rat to the order flow and the notional, with an open reference program and reimbursements of rates that will continue in the coming weeks.
