Mind Network Collaborates with Pendle to Enhance the Utility of Principal Tokens

We are pleased to announce a groundbreaking collaboration between Mind Network and Pendle. This collaboration aims to significantly enhance the utility of the Principal Token (PT) within the Pendle DeFi ecosystem. This cooperation represents a major milestone in the evolution of DeFi around Pendle and is poised to drive innovation and value creation across its diverse platforms.

Mind Network is the first Fully Homomorphic Encryption (FHE) Restaking Layer for PoS and AI Networks. FHE allows computational processes to operate directly on encrypted data without prior decryption. Mind Network’s solution enables verifiable decentralized computation over encrypted data. The ‘Remote Staking’ solution will enable participants to securely participate in PoS validation while retaining control over their private keys. This approach maintains the trustless and decentralized nature of blockchain technology, safeguarding sensitive information from exposure throughout the staking process. By accepting Pendle’s PTs as deposit assets, Mind Network enhances the security of stakeholders, ensuring that cryptographic operations remain robust and resistant to potential vulnerabilities.

We currently support the following networks and assets on the Mind Network Alpha Mainnet:

L1 Network: Ethereum

PT: Principal Token (Principal Token of ETH Liquid Staking Tokens/Liquid Restaking Tokens on Pendle)

• PT-eETH
• PT-ezETH
• PT-pufETH
• PT-weETHs
• PT-stETH

Benefits of Mind Network & Pendle Collaboration

Asset Security: Through FHE, Remote Staking enables secure and efficient participation in staking processes without the need for cross-chain transfers. This method ensures that participants retain control over their assets and private keys while contributing to the FHE validation and security of Mind Network’s subnets.

Diverse Rewards: By participating in restaking, asset holders can earn not only the original protocol rewards and network staking rewards but also additional rewards from Mind and AI/PoS networks within the ecosystem. This increases asset liquidity and utilization.

Contributing to Network Security: Staked assets will serve the FHE validation of the subnet, contributing to the overall security and reliability of the decentralized ecosystem and benefiting from it.

This collaboration not only showcases the potential of FHE in enhancing blockchain security but also sets a new standard for secure participation in PoS systems. By remotely staking Principal Tokens (PT) on Mind Network and leveraging our capabilities of FHE to ensure consensus security, this collaboration promises to offer new incentives and utility opportunities for PT holders on Pendle. As collaboration progresses, it is expected to further innovate and strengthen the infrastructure supporting decentralized finance (DeFi) and blockchain ecosystems globally.

About Mind Network

Mind Network is the first FHE Restaking Layer for PoS and AI Networks. Their framework operates as an FHE validation network, bringing secure computation and consensus to Bitcoin restaking, Decentralized AI, Bridges, EigenLayer AVS, Bittensor Subnet, and many critical PoS networks. Mind Network’s solution enables verifiable decentralized computation over encrypted data.

Mind Network is backed by Binance Labs, Hashkey, Big Brain, Chainlink, and received an Ethereum Foundation Grant for their FHE research on Ethereum.

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