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Pendle's average daily TVL in the first half of the year was about $1.3 billion, while Boros' cumulative trading volume exceeded $1.4 billion. Pendle has launched the Monad network with a lock up scale of approximately $150 million. Pendle has completed the repurchase of approximately 2 million PENDLEs, reducing the weekly liquidity incentive from around 90000 to 21000. In the second half of 2026, Pendle will advance the construction of curatorial infrastructure, collaborate with companies such as Morpho to launch a revenue vault, and collaborate with multiple RWA issuers in New York to introduce tokenized ETFs and other products. Boros will shift towards cross platform fund rate arbitrage and launch peer-to-peer acceptance markets and one click strategy products.