DeFi interest rates swing back and forth due to changes in the demand and supply of capital. Ultimately, market forces accelerate rates back to their equilibriums. Just like a Pendulum.
We have constant product and constant function maker makers. Newer protocols are building their own internal AMMs for time decaying assets. Will we see a generalized version emerge as a standalone product/building block?
1/ As we move closer to our launch, we'd like to share more about what we're building. Pendle aims to unlock a deeper layer of the DeFi ecosystem by allowing seamless trading and utilization of composable yield.