The Big Analysis
TBW - Pendle vs Spectra: the match of tenfold yield protocols
As decentralised finance (DeFi) continues to grow, yield management has become one of its most transformative frontiers. Two protocols - Spectra and Pendle - are pioneering different approaches to transform the way users interact with yield-generating assets. Both protocols divide yield-generating tokens into Principal Tokens (PT) and Yield Tokens (YT)