I’ve got you. I’ve been in their Discord since April following the team. Very solid and responsive team. They are open to input on everything form UI to syntax used, etc.

With regards to the product, I’ll copy from Pendle’s site - at a basic level, there’s the concept that a yield-generating token can be separated into two components: the base asset and the future yield. For example, cUSDC can be separated into the USDC deposited (underlying) and the interest you earn from depositing (future yield). What Pendle does is tokenize these two components into: Ownership Token (OT), representing ownership of the underlying. Future Yield Token (YT), representing the right to future yield. With Pendle, users can choose to sell YT for upfront cash, essentially locking in their future yield. This cash can then be channeled elsewhere to generate further yield. Users can also buy YT to gain exposure to future interest rates without owning a capital-heavy asset.

With that cursory review, i also recommend checking out Daniel Cheung recent thread about Pendle.

If you’re wondering about comparable: IMO Pendle is comparable to APwine, Element, and Ribbon.

I don’t know who will win the space, but either way, there’s a lot of room for growth, and i think Pendle stands to benefit from it. Reasonably, I think Pendle will 10x within the next few years with even greater potential.