DeFi yield protocol Pendle Finance has expanded to Ethereum layer 2 network Arbitrum, The Block reported. Pendle splits yielding assets (e.g. collateralized Ether) into two parts: base token value and yield, allowing traders to buy assets without yield, and vice versa. Pendle has partnered with GMX, a decentralized exchange running on the Arbitrum network, to support its native asset. The protocol currently supports four ethereum tokens, and also includes Yuga Labs’ apecoin, stablecoin USDC (via Convex Finance), and LOOKS. Pendle is currently only available on Ethereum and the Ethereum-compatible blockchain Avalanche.