Total Value Locked$1.169b
TVL by Chain
Ethereum$680.15m
Monad$169.27m
Arbitrum$133.65m
Plasma$128.32m
Hyperliquid L1$29.18m
BSC$17.97m
X Layer$6.04m
Base$3.68m
Sonic$578,659.43
Mantle$126,162.41
Avalanche$45,309.98
OP Mainnet$20,272.01
Berachain$7,171.29
Key Metrics
Fees (Annualized)$21.8m
Fees 30d$684,786
Ethereum$390,389
Plasma$190,966
Arbitrum$63,695
Monad$22,716
Base$9,208.29
BSC$5,455.51
Hyperliquid L1$2,320.85
Sonic$32.41
Mantle$4.01
Berachain$0.11
OP Mainnet$0
Fees 7d$92,246
Ethereum$75,022
Plasma$7,845
Monad$5,381
Arbitrum$3,520
Base$189.29
Hyperliquid L1$184.41
BSC$104.29
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Fees 24h$12,269
Ethereum$6,571
Monad$2,992
Plasma$1,796
Arbitrum$660
Hyperliquid L1$223
Base$17
BSC$9.93
OP Mainnet$0.13
Berachain$0
Mantle$0
Sonic$0
Cumulative Fees$66.04m
Ethereum$53.75m
Arbitrum$5.63m
Plasma$1.86m
Berachain$1.49m
BSC$1.41m
Mantle$844,204.01
Base$511,374.29
Hyperliquid L1$318,595.85
Sonic$147,072.41
Monad$60,691
OP Mainnet$24,363.13
Revenue (Annualized)$21.16m
Revenue 30d$677,757
Ethereum$385,032
Plasma$190,924
Arbitrum$63,437
Monad$21,674
Base$8,962.47
BSC$5,404
Hyperliquid L1$2,288.62
Sonic$32.41
Mantle$4.01
Berachain$0.11
OP Mainnet$0
Revenue 7d$90,389
Ethereum$73,501
Plasma$7,833
Monad$5,176
Arbitrum$3,443
Hyperliquid L1$180.18
Base$162.47
BSC$92.9
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Revenue 24h$12,046
Ethereum$6,432
Monad$2,930
Plasma$1,791
Arbitrum$646
Hyperliquid L1$223
Base$16
BSC$8.01
OP Mainnet$0.13
Berachain$0
Mantle$0
Sonic$0
Cumulative Revenue$63.39m
Ethereum$51.65m
Arbitrum$5.41m
Plasma$1.79m
Berachain$1.48m
BSC$1.36m
Mantle$841,550.01
Base$440,953.47
Hyperliquid L1$206,490.62
Sonic$133,620.41
Monad$58,790
OP Mainnet$24,238.13
Holders Revenue (Annualized)$17.36m
Holders Revenue 30d$542,208
Ethereum$308,025
Plasma$152,739
Arbitrum$50,750
Monad$17,338
Base$7,169.82
BSC$4,324.6
Hyperliquid L1$1,831.1
Sonic$25.93
Mantle$3.21
Berachain$0.09
OP Mainnet$0
Holders Revenue 7d$72,309
Ethereum$58,799
Plasma$6,267
Monad$4,141
Arbitrum$2,753
Hyperliquid L1$144.47
Base$130.17
BSC$73.92
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Holders Revenue 24h$9,637
Ethereum$5,146
Monad$2,344
Plasma$1,433
Arbitrum$516
Hyperliquid L1$178
Base$13
BSC$6.41
OP Mainnet$0.1
Berachain$0
Mantle$0
Sonic$0
Cumulative Holders Revenue$55.92m
Ethereum$45.88m
Arbitrum$4.55m
Berachain$1.47m
Plasma$1.43m
BSC$1.12m
Mantle$702,619.21
Base$410,919.82
Hyperliquid L1$165,193.1
Sonic$129,119.93
Monad$47,030
OP Mainnet$19,973.1
Incentives 1y$8.27m
$48,813.51
$11,320
$2,337.94
$90.47m
Earnings (Annualized)$12.9m
$628,943.49
$79,069
$9,708.06
-$27.08m
DEX Volume 30d$387.33m
DEX Volume 30d by chain
Ethereum$282.51m
Monad$59.24m
Arbitrum$17.13m
BSC$13.72m
Plasma$9.96m
Hyperliquid L1$3.78m
Base$984,420
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 7d$107.1m
Ethereum$84.77m
Monad$11.18m
Plasma$5.31m
Arbitrum$3.3m
BSC$1.45m
Hyperliquid L1$1.01m
Base$74,205
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 24h$20.19m
Monad$10.08m
Ethereum$5.4m
Plasma$3.88m
Arbitrum$413,500
Hyperliquid L1$281,385
BSC$132,420
Base$5,143
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative DEX Volume$56.542b
Ethereum$51.228b
Arbitrum$3.111b
BSC$1.578b
Mantle$303.09m
Plasma$176.66m
Monad$121.64m
Base$16.16m
Hyperliquid L1$6.79m
OP Mainnet$158,370
Berachain$0
Sonic$0
Market Cap$254.96m
$PENDLE Price$1.48
$416.9m
$417.65m
$PENDLE Volume 24h$58.86m
CEX Volume$27.07m
DEX Volume$31.55m(53.6% of total)
Staked$146.32m(57.39% of mcap)
$PENDLE Liquidity$26.18m
Uniswap V3$10.3m
Balancer V2$5.32m
Camelot V2$4.54m
Uniswap V3$1.87m
Curve DEX$1.5m
Camelot V3$1.23m
Aerodrome Slipstream$565,104
SushiSwap$282,208
Uniswap V3$260,204
PancakeSwap AMM V3$155,967
PancakeSwap AMM V3$68,973
Joe V2.1$49,705
Velodrome V2$40,450
Total Raised
May 4, 2021$3.7mRound: SeedInvestors: AllianceDAO, Bitlink Capital, Bitscale Capital, CMS Holdings, Crypto.com Capital, D1 Ventures, Fisher8 Capital, Genesis Block Ventures, Harvest Finance, HashKey, imToken Ventures, LedgerPrime, Lemniscap, Mechanism Capital, Origin Capital, Parataxis Capital, Signum Capital, Sora Ventures
Aug 23, 2023Round: Investors: Binance Labs
Nov 9, 2023Round: OTCInvestors: The Spartan Group
Protocol Information
Pendle Finance is a protocol that enables the trading of tokenized future yield on an AMM system.
Audits:
Methodology
TVL: V1 TVL counts the collateral backing the yield tokens and USDC in the pendle markets, plus staked OT liquidity, and SLP/JLP staked in masterchef. Staking TVL is just staked PENDLE on 0x07282F2CEEbD7a65451Fcd268b364300D9e6D7f5. Pool2 refers to the Pe,P pool on mainnet, and Pa,P pool on avax.View code on GitHubFees: Total yield from deposited assets + trading fees paid by yield traders.View code on GitHubRevenue: Sum of 5% fee from all yield + points accrued and 80% trading fees.View code on GitHubHolders Revenue: 80% revenue distributed to sPENDLE holders (100% before September 2025).View code on GitHubDEX Volume: Value traded in Pendle's pools plus limit orders filled on Pendle's order book, counted once per trade on the yield-bearing token side. A YT trade counts the size of the position it opens, not the smaller amount the trader pays for it. Minting and redeeming PT/YT is not a trade and is excluded.View code on GitHubIncentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Yields
Pools Tracked166
Average Supply APY10.51%
User Activity
Active Addresses (24h)406
New Addresses (24h)33
Transactions (24h)767
Gas Used (24h)0.24 ETH
Gas Cost (24h)$453
Competitors
Frequently Asked Questions
What is Pendle?
Pendle Finance is a protocol that enables the trading of tokenized future yield on an AMM system.
What is Pendle's TVL?
Pendle currently has $1.169b in total value locked. TVL has increased 1.9% over the past 30 days.
What chains does Pendle operate on?
Pendle operates on 13 chains: Ethereum, Avalanche, Berachain, Monad, and Base and 8 others. Ethereum holds the largest share at 58.2%.
How much has Pendle generated in fees and revenue?
Over the past 30 days, Pendle generated $684,786 in fees. Of that, $677,757 was protocol revenue. Based on the trailing year, the annualized rate is $21.8m in fees and $21.16m in revenue.
What is the PENDLE token price and valuation?
PENDLE is currently trading at $1.48. Its circulating market capitalization is $254.43m, ranking it #201. Its fully diluted valuation is $416.03m. Supply currently stands at 172.17m circulating, 281.53m total supply.
How has PENDLE performed recently?
PENDLE is up 9.3% over the past 7 days and down 8.7% over the past 30 days. Its all-time high is $7.5, reached on Apr 11, 2024. The token is currently 80.3% below that level.
How does Pendle's TVL compare to similar protocols?
Among Yield protocols tracked by DefiLlama, Pendle ranks #1 by TVL. The category holds $4.51b across 584 protocols, and Pendle accounts for 25.9% of that total. Other leading protocols include Equilibria, Spectra V2, Penpie, Napier, Saffron Vaults, Spark Savings, Stake DAO, AUTOfinance, TermFinance Vaults, and WOOFi Earn.
How much trading volume does Pendle process?
Pendle processed $387.33m in DEX volume over the past 30 days.
