Pendle Finance and Notcoin recently experienced roughly 58.6% and 400% price growth, respectively and are thus among the recent top performers.The altcoin market has recently gained momentum following the approval of the spot ETH ETFs in the U.S. In May, the total altcoin market capitalization surged by around 20%, with ETH responsible for half of this growth.
Users can split yield-bearing assets such as Renzo’s ezETH on Pendle to generate a yield token and principal token . The PT token represents the principal of the underlying asset, while the YT is an entitlement to future yields. Airdrop farmers have been incentivized to deposit their LRTs into Pendle since the introduction of point multipliers by liquid restaking protocols. These multipliers increase airdrop allocations when an asset is held in a DeFi protocol, compared to when it is sitting in a wallet.