Ask about Pendle · freeTotal Value Locked$1.069b
TVL by Chain
Ethereum$780.52m
Monad$161.34m
Arbitrum$54.21m
X Layer$43.83m
Hyperliquid L1$9.15m
BSC$7.71m
Plasma$6.41m
Base$4.37m
Sonic$486,842
Robinhood Chain$319,574
Mantle$108,290
Avalanche$45,684
Berachain$1,363
OP Mainnet$0
Key Metrics
Fees 30d$456,678
Fees 30d by chain
Ethereum$306,329
Arbitrum$105,462
Monad$25,000
Plasma$8,582
Hyperliquid L1$6,578
Sonic$2,301
Base$1,312
X Layer$401.20
BSC$331.29
Robinhood Chain$318.67
Mantle$59.69
Berachain$0.37
OP Mainnet$0
Fees 7d$119,465
Ethereum$63,253
Arbitrum$42,707
Monad$8,166
Hyperliquid L1$2,395
Plasma$2,292
Base$320.38
Robinhood Chain$191.12
BSC$109.44
X Layer$24.89
Sonic$5.83
Mantle$0.31
Berachain$0
OP Mainnet$0
Fees 24h$7,841
Ethereum$6,059
Arbitrum$1,160
Monad$389
Hyperliquid L1$198
Base$29
Plasma$4.73
BSC$0.47
X Layer$0.42
Robinhood Chain$0.04
Mantle$0.02
Berachain$0
OP Mainnet$0
Sonic$0
Cumulative Fees$68m
Ethereum$54.64m
Arbitrum$6.57m
Plasma$1.9m
Berachain$1.49m
BSC$1.41m
Mantle$844,280
Base$516,778
Hyperliquid L1$331,063
Sonic$149,385
Monad$126,476
OP Mainnet$24,365
X Layer$595.15
Robinhood Chain$581.94
Revenue 30d$450,092
Revenue 30d by chain
Ethereum$301,531
Arbitrum$104,614
Monad$24,292
Plasma$8,571
Hyperliquid L1$6,511
Sonic$2,301
Base$1,204
X Layer$367.56
BSC$323.51
Robinhood Chain$315.91
Mantle$59.69
Berachain$0.37
OP Mainnet$0
Revenue 7d$118,190
Ethereum$62,385
Arbitrum$42,632
Monad$7,866
Hyperliquid L1$2,390
Plasma$2,292
Base$300.38
Robinhood Chain$189.91
BSC$106.95
X Layer$20.28
Sonic$5.83
Mantle$0.31
Berachain$0
OP Mainnet$0
Revenue 24h$7,715
Ethereum$5,987
Arbitrum$1,151
Monad$350
Hyperliquid L1$197
Base$24
Plasma$4.73
BSC$0.38
X Layer$0.34
Robinhood Chain$0.03
Mantle$0.02
Berachain$0
OP Mainnet$0
Sonic$0
Cumulative Revenue$65.28m
Ethereum$52.52m
Arbitrum$6.29m
Plasma$1.83m
Berachain$1.48m
BSC$1.36m
Mantle$841,622
Base$446,154
Hyperliquid L1$218,767
Sonic$135,933
Monad$123,064
OP Mainnet$24,240
Robinhood Chain$575.79
X Layer$546.06
Holders Revenue 30d$336,268
Holders Revenue 30d by chain
Ethereum$241,225
Arbitrum$59,890
Monad$19,432
Plasma$6,857
Hyperliquid L1$5,209
Sonic$1,840
Base$962.40
X Layer$294.04
BSC$258.49
Robinhood Chain$252.52
Mantle$47.74
Berachain$0.29
OP Mainnet$0
Holders Revenue 7d$87,947
Ethereum$49,908
Arbitrum$27,504
Monad$6,292
Hyperliquid L1$1,913
Plasma$1,833
Base$238.98
Robinhood Chain$152.53
BSC$85.57
X Layer$16.23
Sonic$4.66
Mantle$0.23
Berachain$0
OP Mainnet$0
Holders Revenue 24h$5,290
Ethereum$4,789
Monad$280
Hyperliquid L1$158
Arbitrum$40
Base$19
Plasma$3.78
BSC$0.30
X Layer$0.27
Robinhood Chain$0.03
Mantle$0.01
Berachain$0
OP Mainnet$0
Sonic$0
Cumulative Holders Revenue$56.82m
Ethereum$46.58m
Arbitrum$4.64m
Berachain$1.47m
Plasma$1.46m
BSC$1.12m
Mantle$702,676
Base$415,080
Hyperliquid L1$175,013
Sonic$130,972
Monad$98,448
OP Mainnet$19,975
Robinhood Chain$460.27
X Layer$437.03
Incentives 1y$3.82m
Incentives 30d$74,649
Incentives 7d$33,863
Incentives 24h$29.15
Cumulative Incentives$90.64m
Earnings (Annualized)$10.76m
Earnings 30d$375,443
Earnings 7d$84,327
Earnings 24h$7,686
Cumulative Earnings-$25.36m
DEX Volume 30d$903.89m
DEX Volume 30d by chain
Ethereum$621.8m
Monad$150.45m
Arbitrum$102.65m
Plasma$18.92m
X Layer$4.15m
Hyperliquid L1$3.73m
Robinhood Chain$1.54m
Base$386,025
BSC$268,261
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 7d$390.82m
Ethereum$301.47m
Monad$73.87m
Plasma$12.2m
Arbitrum$2.71m
Hyperliquid L1$245,563
Base$126,495
X Layer$123,062
BSC$57,342
Robinhood Chain$14,095
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 24h$122.38m
Ethereum$121.11m
Monad$1.15m
Arbitrum$65,553
Hyperliquid L1$26,733
Base$18,030
BSC$3,053
X Layer$2,121
Robinhood Chain$320
Plasma$155
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative DEX Volume$58.439b
Ethereum$52.588b
Arbitrum$3.273b
BSC$1.581b
Monad$399.01m
Mantle$303.09m
Plasma$221.09m
Hyperliquid L1$45.98m
Base$17.51m
X Layer$6.44m
Robinhood Chain$4.19m
OP Mainnet$158,370
Berachain$0
Sonic$0
Perp Volume 30d$485.47m
Perp Volume 30d by chain
Arbitrum$485.47m
Perp Volume 7d$144.33m
Arbitrum$144.33m
Perp Volume 24h$23.07m
Arbitrum$23.07m
Cumulative Perp Volume$21.504b
Arbitrum$21.504b
Open Interest$133.57m
Market Cap$350.23m
$PENDLE Price$2.01
Fully Diluted Valuation$567.12m
Outstanding FDV$567.21m
$PENDLE Volume 24h$49.32m
CEX Volume$15.12m
DEX Volume$33.9m(68.74% of total)
Staked$191.05m(54.55% of mcap)
Total Raised$3.7m
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.
Yields
Pools Tracked174
Average Supply APY12.11%
User Activity
Active Addresses (24h)453
New Addresses (24h)74
Transactions (24h)764
Gas Used (24h)0.09 ETH
Gas Cost (24h)$217
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
DEX Volume: Volume of all spot token swaps on the DEX
Perp Volume: Notional volume of all trades including leverage on the perp exchange
Incentives: 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
Pendle history
TVL is the default DefiLlama definition, which excludes Staking and Pool2. Daily values are UTC snapshots from Jun 16, 2021 to Oct 25, 2026.
All-time high TVL: $13.391b on Sep 19, 2025. All-time low TVL: $899,394 on Jun 16, 2021.
Daily TVL, Sep 26, 2026 to Oct 25, 2026
| Date | TVL |
|---|---|
| Sep 26, 2026 | $1.272b |
| Sep 27, 2026 | $1.272b |
| Sep 28, 2026 | $1.265b |
| Sep 29, 2026 | $1.27b |
| Sep 30, 2026 | $1.264b |
| Oct 1, 2026 | $1.257b |
| Oct 2, 2026 | $1.265b |
| Oct 3, 2026 | $1.269b |
| Oct 4, 2026 | $1.263b |
| Oct 5, 2026 | $1.266b |
| Oct 6, 2026 | $1.261b |
| Oct 7, 2026 | $1.262b |
| Oct 8, 2026 | $1.252b |
| Oct 9, 2026 | $1.217b |
| Oct 10, 2026 | $1.218b |
| Oct 11, 2026 | $1.217b |
| Oct 12, 2026 | $1.22b |
| Oct 13, 2026 | $1.229b |
| Oct 14, 2026 | $1.238b |
| Oct 15, 2026 | $1.223b |
| Oct 16, 2026 | $1.124b |
| Oct 17, 2026 | $1.115b |
| Oct 18, 2026 | $1.113b |
| Oct 19, 2026 | $1.11b |
| Oct 20, 2026 | $1.116b |
| Oct 21, 2026 | $1.121b |
| Oct 22, 2026 | $1.121b |
| Oct 23, 2026 | $1.061b |
| Oct 24, 2026 | $1.064b |
| Oct 25, 2026 | $1.069b |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $4.141b |
| Dec 31, 2024 | $4.423b |
| Jan 31, 2025 | $5.458b |
| Feb 28, 2025 | $4.693b |
| Mar 31, 2025 | $3.042b |
| Apr 30, 2025 | $2.932b |
| May 31, 2025 | $4.053b |
| Jun 30, 2025 | $4.912b |
| Jul 31, 2025 | $6.827b |
| Aug 31, 2025 | $10.571b |
| Sep 30, 2025 | $6.606b |
| Oct 31, 2025 | $7.002b |
| Nov 30, 2025 | $3.469b |
| Dec 31, 2025 | $3.741b |
| Jan 31, 2026 | $3.106b |
| Feb 28, 2026 | $2.268b |
| Mar 31, 2026 | $2.081b |
| Apr 30, 2026 | $1.49b |
| May 31, 2026 | $1.459b |
| Jun 30, 2026 | $950.44m |
| Jul 31, 2026 | $1.218b |
| Aug 31, 2026 | $1.184b |
| Sep 30, 2026 | $1.264b |
| Oct 25, 2026 (latest) | $1.069b |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $34.13m |
| Dec 31, 2022 | $15.22m |
| Dec 31, 2023 | $234.01m |
| Dec 31, 2024 | $4.423b |
| Dec 31, 2025 | $3.741b |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $1.74m | $1.62m | $1.3m |
| Dec 2024 | $3m | $2.82m | $2.25m |
| Jan 2025 | $8.83m | $8.63m | $8.63m |
| Feb 2025 | $2.63m | $2.55m | $2.55m |
| Mar 2025 | $1.47m | $1.4m | $1.4m |
| Apr 2025 | $1.57m | $1.53m | $1.53m |
| May 2025 | $4.92m | $4.88m | $4.88m |
| Jun 2025 | $1.52m | $1.49m | $1.49m |
| Jul 2025 | $2.16m | $2.1m | $2.1m |
| Aug 2025 | $4.09m | $3.96m | $3.94m |
| Sep 2025 | $3.5m | $3.28m | $2.57m |
| Oct 2025 | $4.37m | $4.18m | $3.29m |
| Nov 2025 | $3.1m | $3.02m | $2.38m |
| Dec 2025 | $1.39m | $1.36m | $1.04m |
| Jan 2026 | $1.23m | $1.22m | $895,336 |
| Feb 2026 | $980,537 | $966,279 | $723,050 |
| Mar 2026 | $658,686 | $647,268 | $474,897 |
| Apr 2026 | $1.75m | $1.74m | $1.34m |
| May 2026 | $1.16m | $1.14m | $868,257 |
| Jun 2026 | $1.1m | $1.08m | $828,007 |
| Jul 2026 | $629,737 | $620,996 | $463,649 |
| Aug 2026 | $695,385 | $684,695 | $520,083 |
| Sep 2026 | $562,201 | $554,893 | $416,740 |
| Oct 2026 (to date) | $390,723 | $385,472 | $288,025 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/pendle
Frequently asked questions
What is Pendle's TVL?
As of Oct 25, 2026, Pendle has $1.069b in total value locked. TVL has decreased 15.5% over the past 30 days.
What chains does Pendle operate on?
Pendle operates on 14 chains: Ethereum, Monad, Arbitrum, X Layer, and Hyperliquid L1 and 9 others. Ethereum holds the largest share at 73%.
How much has Pendle generated in fees and revenue?
Over the past 30 days, Pendle generated $456,678 in fees. Of that, $450,092 was protocol revenue. Based on the trailing year, the annualized rate is $14.84m in fees and $14.58m in revenue.
What is the PENDLE token price and valuation?
PENDLE is currently trading at $2.01. Its circulating market capitalization is $350.23m, ranking it #184. Its fully diluted valuation is $567.12m. Supply currently stands at 173.86m circulating, 281.53m total supply.
How has PENDLE performed recently?
PENDLE is down 2.4% over the past 7 days and down 22.1% over the past 30 days. Its all-time high is $7.50, reached on Apr 11, 2024. The token is currently 73.2% below that level.
Which protocols are included in Pendle?
Pendle is a parent protocol whose tracked products include Pendle V2 and Boros.
How much trading volume does Pendle process?
Pendle processed $903.89m in DEX volume over the past 30 days.