According to Foresight News, Pendle has been selected for Fortune magazine's Crypto Innovators list, which identified 30 projects from over 150 nominations. Other honorees include traditional finance institutions such as State Street, DBS Bank, and SBI Holdings.
Pendle said on-chain fixed income has lacked products comparable to traditional finance, with floating yields prevalent but tools to lock known rates or express duration views remaining unscaled. The protocol aims to fill this gap, with total value locked now in the billions of dollars, as stablecoin yield markets and institutional capital participation continue growing.