PANews reported on August 6th that, according to CoinDesk, Pendle has launched a new platform, Boros, on Arbitrum, allowing users to directly trade funding rates for Bitcoin and Ethereum perpetual contracts. The platform introduces "Yield Units" (YUs), similar in structure to Pendle's existing yield tokens. Each YU represents the realized return on one unit of notional principal (e.g., 1 ETH or 1 BTC) before maturity, enabling users to speculate or hedge against funding rate fluctuations on derivatives exchanges like Binance.

Initially, the platform will limit open interest to $10 million per market and leverage to 1.2x. While plans are in place to expand trading instruments such as SOL and BNB, and integrate with additional exchanges like Hyperliquid and Bybit, the team will slow down expansion to prioritize risk management and system validation. The Boros Vault allows liquidity providers to inject funds and earn commissions, PENDLE token incentives, and positive interest rate spreads from favorable APR changes, driving early liquidity in the protocol. PENDLE token incentives will be distributed based on order volume and traded notional principal. Referral programs and fee rebate programs will also be rolled out.