This is an observation and personal opinion from BonnaZhu of Nothing Research Partner, and the following content does not constitute any investment advice.

Pendle launched its new product Boros yesterday
Individuals are more interested in the essence of the product and user profiles
Exploring the market of 'funding rates' long-short games
Is it a viable business / established commercial model?

In terms of positioning:

Pendle: Time-value products, focusing on splitting and pricing
Boros: Value trading platform, focusing on games and hedging

1. Boros inherits the main products of Pendle

Boros continues the YT/PT logic; the difference is:

AMM has been transformed into an order book, closer to mainstream market structures.