Pendle, the yield-trading protocol, has fully upgraded its Bungee Exchange to V3, enabling single-click cross-chain token swaps that no longer require users to hold native gas on the destination chain. The update, announced today, integrates faster routing, lower fees, and gasless execution, allowing users to swap into Pendle's principal tokens (PT) or yield tokens (YT) across chains seamlessly.
What the V3 upgrade changes
Bungee, powered by SOCKET infrastructure, acts as a bridge aggregator that scans multiple bridges and DEX routes to find the cheapest and fastest swap path. Pendle claims it is "the most powerful bridge aggregator," backed by over $25 billion in cumulative transaction volume. The V3 upgrade improves routing speed, reduces transaction fees (though specific percentages were not disclosed), and adds gasless execution, solving a major user friction point in multi-chain DeFi.
Previously, users had to leave the Pendle platform, manually bridge assets, and then return to trade PT or YT tokens. Now, the entire process happens in one click: holding Token A on Chain X directly swaps into PT or YT on Chain Y, with the protocol covering gas costs automatically.
Why Pendle focuses on cross-chain
Pendle's core product splits yield-bearing assets into principal tokens (PT), representing the underlying asset's value at maturity, and yield tokens (YT), capturing generated yield. By embedding a bridge aggregator directly into the swap flow, Pendle removes the multi-step process that previously hindered cross-chain access. Community-built tools had already enabled PT trading via Bungee's SOCKET infrastructure, but the V3 release formalizes and expands that functionality, making the yield-trading protocol more accessible across different networks.