boros07
$boros
MCAP33.87K

what's boros?

Boros is a yield trading protocol built on Arbitrum by the Pendle team, specializing in tokenized funding rates from crypto derivatives markets. It allows users to trade and leverage exposure to perpetual funding rates, turning interest rate fluctuations into direct profit opportunities and enabling advanced risk hedging strategies. The protocol features a hybrid AMM and CLOB design for on-chain trading, integrating Chainlink oracles for accurate data feeds. Boros supports delta-neutral yield farming and arbitrage between exchanges like Hyperliquid and Binance, offering fixed yields without price volatility exposure. It has seen significant trading volume and milestones, including bug bounties and oracle integrations to enhance security and functionality.

Snapshot

Boros added XAGUSDT on Binance, cutting silver funding costs by 85%.

contract

hyperevm

1D ago
ONCHAIN METRICS

Reached $11.5B notional volume and $270M peak open interest within 7 months.

4D ago
ONCHAIN METRICS

Achieved all-time high fees in January 2026.

2W ago
MARKET ACTIVITY

Added new SOL funding rate markets, Hyperliquid SOLUSDC and Lighter SOLUSDC, using USDT collateral, maturing March 27, 2026.

ONCHAIN METRICS

Reached $10B trading volume within six months.

TOKEN ECONOMICS

Begins PENDLE buybacks using Pendle yield within the week starting 2026-02-09, includes Boros fees in funding.

ONCHAIN METRICS

30% of PENDLE supply is staked across vePENDLE and sPENDLE as of 2026-02-09.

3W ago
MARKET ACTIVITY

Listed XAU and XAG funding rate markets, enabling traders to reduce funding costs for silver positions by approximately 85%.

1M ago
VISIBILITY EVENT

Featured in Revenue Meta podcast episode on The Edge Pod discussing onchain equity/RWA perpetuals growth, expanding markets and venues as part of 2026 strategy.

MARKET ACTIVITY

XRP markets went live on the platform.

VISIBILITY EVENT

Released multiple new features for users during the December 2025 holiday period.

2M ago

The platform lists the OKX rates market, enabling traders to execute cross-exchange funding rate arbitrage strategies between Hyperliquid and OKX.

Boros ranks in the top 10 of perpetual dexes by Open Interest.

Boros is featured in Linn's Leverage newsletter issue #918. The top trader on the platform's USDT leaderboard achieves a 2x return in a single trade using an APR arbitrage strategy.

A collaboration between OKX and the platform is announced.

The platform launches an ETHUSDT vault offering 36.80% APR through March 27, 2025, and releases an external dashboard on Dune with 2025 milestones announcement planned this week.

The platform adds a HYPEUSDT Binance market expiring on December 25th.

Boros adds new trading indicators including Fear & Greed Index, Moon Phases, and Live Asset Price overlays. CryptoHayes mentions Boros in his latest article.

The protocol executes its first OTC rate swap transaction.

3M ago

The protocol has $6M in TVL with ramping volume.

HIP-3 protocol update expands perp markets to include TradFi stocks, deepens liquidity for bigger size trades on RWA perps markets.

HYPE funding rates drop significantly on the platform.

Boros reaches $1B in trading volume within 1.5 months, 10× faster than its V2 launch.

HYPE funding rate market goes live on the platform.

The platform sits on steady $30M daily volume and substantial open interest.

Six new markets deploy on the platform: Gaib, Yuzu, Term, Plume, YieldNest, and Midas.

New market launches this week.

Expands to support assets beyond BTC and ETH, adds Gate exchange to existing Binance and Hyperliquid platforms, and introduces calculators and UI/UX improvements.

Boros is built by the Pendle team and is the first on-chain venue for trading funding rates natively.

TVL on Plasma crosses $1 billion milestone (up from $850M) and October monthly revenue reaches $4.5M. BitMEX features "Master the Boros Blueprint" article.

4M ago

Volume reaches new ATH at $210M.

21shares launches a PENDLE ETP on 6 Swiss exchanges. Pendle reaches its highest monthly revenue at $4.25M and becomes the 2nd largest protocol on Plasma with $850M in TVL. New Boros pools launch including ETHUSD 28-NOV on Hyperliquid (ETH and USDT collateral) and Binance (ETH collateral), plus BTCUSD 28-NOV on Binance (BTC collateral).

Partnered with Arbitrum, listed among top perpetuals platforms on Arbitrum One with Variational, Ostium Labs, Gains Network, and Carbon Terminal.

Achieves $2.83 billion in trading volume and $4.7 billion in open interest in under 3 months.

Crosses $1M in annualized fees and generates ~$750K in annualized revenue one month after launch, representing 0.22% of Binance and HyperliquidX open interest.

Boros reaches $1B volume 10x faster than V2 and bridges DeFi/TradFi through RWA partnerships with Robinhood, Stripe, Apollo, and BlackRock.

Launches multiple new pools this week including Reservoir rUSD (26-Feb), Midas mMEV (28-May), Midas mEDGE (28-May), f(x) fxSAVE (30-Apr), Maple syrupUSDC (18-Dec) on Ethereum, Lista slisBNBx (25-Jun), Ethena USDe (29-Jan), Metamask mUSD (29-Jan) on BSC, and liquidHYPE (30-Apr) on HYPE chain. Plasma PT loops integration with Aave goes live.

Two new Strata pools (jrUSDe and srUSDe) launch this week on January 15th, with unspecified major announcements expected.

Boros launches a referral program offering 20% of settlement and trading fees from referred users, with potential earnings of $80K+ per year for $1M in notional referral volume, requiring users to reach $1M in volume to generate referral links.

The platform successfully processed funding rate payouts during recent weekend market chaos without glitches, and funding rates have stabilized after the volatile period.

Platform achieves #5 ranking on DeFillama Perps Volume dashboard with $2.7B in daily volume, up from previous 20th position in 30-day revenue rankings, while currently trading at 18x revenue multiple.

5M ago

Pendle launches a $500,000 bug bounty program for the protocol on Cantina platform, opening the hybrid AMM and CLOB system for security review.

Chaos Price Oracles go live on the platform.

A promotional code 'DDOJO' is available offering 10% rebate on platform fees.

Users report earning 10.02% APR through farming while benefiting from negative funding rates providing additional 1.61% earnings settled hourly.

The protocol ranks as the 20th highest earning derivatives protocol by 30-day revenue and demonstrates 21.6x higher efficiency than Pendle v2 on a revenue-to-TVL basis.

The platform reports $730K in annualized revenue following its v1 launch.

Platform launches new referral program offering 20% fee sharing to referrers and 10% rebates to referred users, while raising OI caps by 2x, increasing vault caps, and boosting HyperLiquid leverage from 1.3x to 2x.

Boros transitions from soft launch to full launch status.

Crosschain PT functionality goes live and new AI agent 'Pulse' launches for portfolio optimization.

Platform launches Hyperliquid markets, enabling cross-exchange funding rate arbitrage.

Integrated with Pendle as a major vertical within its V2 infrastructure, powered by the $PENDLE token.

Platform reports $61.1M open interest, $524M trading volume, and 11k users one month after going live.

ETH funding rates turn negative for 10 consecutive days, representing a shift from the previously reported positive 5-6% range.

Funding rates have declined further to average about 5%, down from the previously reported low 6% range.

New 3x leverage offering available through Pendle Finance integration.

New 250x leverage offering launched for funding rate trading positions.

Trading platform launches new funding rate yield vertical, doubles TVL to $10.4B in 3 months with $40M annualized revenue.

ETH funding rates continue downward trend to low 6% range, generating 50% of trading PnL through funding payments over seven consecutive days of leveraged collection.

6M ago

New trading framework combines funding rates, open interest, and liquidation clusters to signal YU entry/exit points.

ETH funding rates turn negative with underlying APR below 5%, while shorting yields 40% APR.

Platform enables simplified delta-neutral and funding-neutral trading through combined farming and shorting strategy.

Funding rate spread widens with 7.52% payment APR versus 1.70% earning APR, creating negative yield scenario for traders.

Funding rate spread creates 7.08% net APR yield opportunity with 8.36% receiving rate against 1.28% floating rate per 8-hour period.

ETH funding rates reach new high of 10.95% while enabling 33% ROI yield farming over 33-day period.

Perp funding rate increases drive higher sUSDe yields and USDC/T borrow rates, creating yield optimization opportunities.

Weekly trading volume reaches $140M as leverage utilization increases from 1.4x to 1.9x, indicating accelerating platform adoption.

Protocol reaches $111.4M in total notional volume with combined open interest of $33M across BTC and ETH markets, while ETH funding rates surge 35.4% from 6.87% to 9.30% in one week.

Novel yield trading mechanism allows 7% daily ETH yields through rate percentage trading instead of price trading.

Protocol achieves $3.7M 24h volume and $10.2M open interest, indicating strong market adoption post-launch.

Protocol increases OI cap to $28.55M and vault caps to $100k BTC/$125k ETH, marking significant expansion in trading capacity.

Protocol launches on Arbitrum with BTC-USDT and ETH-USDT funding pairs, implementing 8-hour settlement cycles and directing 80% of fees to vePENDLE holders.

Protocol raises OI cap to $20M and vault cap to $80k within 5 days of launch, marking third capacity increase.

ETH price surge of 20% drives protocol APY from 5.09% to 9.49%, delivering 4.3x returns without leverage.

Protocol enables conversion of Ethena's variable funding rate exposure into fixed-yield synthetic futures through YU products.

Historical data shows 65-70% win rate for short positions against current 7.1% funding rate, with Binance BTCUSDT funding typically trading below this level in 2025.

Trading platform hits capacity within 24 hours, raising BTCUSDT OI cap from $10M to $15M with $36M total volume.

New risk infrastructure partnership implements dynamic margin models and auto-deleveraging mechanics, with potential integration pathway for Ethena Labs' $10B TVL protocol.

New fixed 7.11% APR product launches for BTC funding rate exposure, offering both payment and receivable options.

YU-BTCUSDT trades at 7.09% Implied APR versus 10.44% Underlying APR, presenting 47% upside potential over 50 days if funding rates maintain.

Caladan confirmed as sole market maker, with platform expansion planned for SOLANA and BNB markets on Bybit and Hyperliquid exchanges. New vault system launching soon offering PENDLE incentives and swap fee revenue.

New funding rate trading platform launches on Arbitrum with $10M Open Interest cap and 1.2x leverage, starting with BTC & ETH Binance markets.

7M ago

Protocol implements new fee structure: swap fees reduced to 1.3% and YT yield fees increased to 7%, with dynamic incentive caps based on pool performance.

Integration with Pendle launches soon for funding rate hedging capabilities.

Platform expands yield sources to include mortgage rates and U.S. T-Bills, extending beyond DeFi to capture traditional finance yield opportunities.

Principal Token collateral reaches $2.7B TVL while LP tokens hit $50M in collateral usage across DeFi protocols; expanding to cross-chain capabilities and TradFi through Pendle Permissioned.

Major institutions (Arca, Spartan, Hashkey, Binance Labs) accumulating positions while expanding to Solana, TON, and Hyperliquid chains.

New integration or development involving boros_fi platform is in development alongside Citadels and MorphoLabs LP collateral features.

8M ago

First-ever on-chain margin trading platform for funding rates in development by Pendle team.

Current perpetual futures OI across major CEXs stands at 70B, with 3% market share target to reach top 5 DeFi protocol status.

Silo Finance enables Pendle LP tokens as collateral, marking first protocol integration for LP token collateralization and increasing capital efficiency.

First-ever DeFi funding rate curve enables market expectation tracking and liquidity health assessment across different durations.

TVL surpasses $5B milestone, driving increased vePENDLE rewards.

Protocol enables transformation of variable funding rates into fixed yield streams through funding rate short positions, with current demonstration showing 58.37% Fixed APY potential.

Protocol launch confirmed for second half of 2024 alongside Citadels feature.

9M ago

Currently generating 2MM revenue on 40-80MM open interest with recently increased fee structure.

Established Pendle team launches private alpha for onchain funding rate trading; public access coming soon.

10M ago

New product launch confirmed with no new token issuance; all value accrues to existing PENDLE and vePENDLE holders.