1. Introduction to RateX
RateX is the largest split DeFi protocol on Solana, providing leveraged income trading (YT), fixed income (PT), income liquidity mining (LP) and other functions.
It is basically the same as Pendle. The interest-bearing assets of the pledge/re-pledge platform (such as stETH, mSOL) enter the split income platform and are exchanged for standardized interest-bearing tokens (ST or SY). Users can choose to split ST into principal tokens (PT) and income tokens (YT), and at the same time form LPs to obtain higher returns (the annualized LPs of fragSOL and fragJTO are 20.88% and 25.85% respectively).