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Pendle V2(PENDLE)

Total Value Locked$1.231b

TVL by Chain

Ethereum$784.01m

Arbitrum$169.76m

Monad$155.12m

X Layer$58.81m

Plasma$42m

Hyperliquid L1$8.46m

BSC$7.76m

Base$3.36m

Robinhood Chain$785,200

Sonic$503,522

Mantle$112,183

Avalanche$46,201

Berachain$2,054

OP Mainnet$0

Key Metrics

Fees 30d$391,643

Fees 30d by chain

Ethereum$313,136

Arbitrum$30,701

Monad$22,647

Plasma$11,473

Hyperliquid L1$6,435

Base$3,765

Sonic$2,295

X Layer$428.41

Robinhood Chain$356.55

BSC$346.94

Mantle$57.01

Berachain$0.92

OP Mainnet$0

Fees 7d$65,712

Ethereum$53,723

Arbitrum$6,192

Monad$4,284

Hyperliquid L1$720.97

Plasma$350

X Layer$260.61

Base$152.15

BSC$17.62

Sonic$6.49

Robinhood Chain$3.16

Mantle$1.34

Berachain$0

OP Mainnet$0

Fees 24h$8,447

Ethereum$6,562

Arbitrum$1,545

Monad$265

X Layer$55

Base$16

Hyperliquid L1$3.67

Mantle$0.09

BSC$0.05

Robinhood Chain$0.02

Berachain$0

OP Mainnet$0

Sonic$0

Cumulative Fees$66.98m

Ethereum$54.51m

Arbitrum$5.69m

Plasma$1.89m

Berachain$1.49m

BSC$1.41m

Mantle$844,277

Base$516,239

Hyperliquid L1$328,408

Sonic$149,379

Monad$115,216

OP Mainnet$24,365

X Layer$615.63

Robinhood Chain$389.80

Revenue 30d$384,979

Revenue 30d by chain

Ethereum$307,902

Arbitrum$29,991

Monad$22,151

Plasma$11,445

Hyperliquid L1$6,351

Base$3,695

Sonic$2,295

X Layer$396.20

Robinhood Chain$353.35

BSC$341.31

Mantle$57.01

Berachain$0.92

OP Mainnet$0

Revenue 7d$64,145

Ethereum$52,465

Arbitrum$6,053

Monad$4,173

Hyperliquid L1$704.34

Plasma$348

X Layer$237.79

Base$136.27

BSC$17.16

Sonic$6.49

Robinhood Chain$2.75

Mantle$1.34

Berachain$0

OP Mainnet$0

Revenue 24h$8,165

Ethereum$6,333

Arbitrum$1,512

Monad$255

X Layer$48

Base$13

Hyperliquid L1$3.36

Mantle$0.09

BSC$0.04

Robinhood Chain$0.02

Berachain$0

OP Mainnet$0

Sonic$0

Cumulative Revenue$64.31m

Ethereum$52.4m

Arbitrum$5.47m

Plasma$1.82m

Berachain$1.48m

BSC$1.36m

Mantle$841,619

Base$445,666

Hyperliquid L1$216,121

Sonic$135,927

Monad$112,172

OP Mainnet$24,240

X Layer$565.65

Robinhood Chain$385.05

Holders Revenue 30d$307,986

Holders Revenue 30d by chain

Ethereum$246,323

Arbitrum$23,995

Monad$17,719

Plasma$9,158

Hyperliquid L1$5,079

Base$2,958

Sonic$1,835

X Layer$317.14

Robinhood Chain$282.22

BSC$272.73

Mantle$45.61

Berachain$0.73

OP Mainnet$0

Holders Revenue 7d$51,316

Ethereum$41,971

Arbitrum$4,841

Monad$3,339

Hyperliquid L1$563.87

Plasma$278.55

X Layer$190.63

Base$109.47

BSC$13.72

Sonic$5.19

Robinhood Chain$2.20

Mantle$1.08

Berachain$0

OP Mainnet$0

Holders Revenue 24h$6,533

Ethereum$5,066

Arbitrum$1,210

Monad$204

X Layer$39

Base$11

Hyperliquid L1$2.69

Mantle$0.07

BSC$0.03

Robinhood Chain$0.01

Berachain$0

OP Mainnet$0

Sonic$0

Cumulative Holders Revenue$56.66m

Ethereum$46.48m

Arbitrum$4.6m

Berachain$1.47m

Plasma$1.46m

BSC$1.12m

Mantle$702,674

Base$414,692

Hyperliquid L1$172,896

Sonic$130,967

Monad$89,735

OP Mainnet$19,975

X Layer$453.30

Robinhood Chain$307.07

DEX Volume 30d$807.63m

DEX Volume 30d by chain

Ethereum$574.92m

Monad$101.75m

Arbitrum$82.89m

Hyperliquid L1$22.53m

Plasma$16.11m

X Layer$4.85m

Robinhood Chain$3.47m

Base$834,674

BSC$268,408

Berachain$0

Mantle$0

OP Mainnet$0

Sonic$0

DEX Volume 7d$156.36m

Ethereum$105.11m

Arbitrum$26.64m

Monad$20.89m

X Layer$1.63m

Hyperliquid L1$1.28m

Plasma$595,676

Robinhood Chain$114,510

Base$50,792

BSC$46,061

Berachain$0

Mantle$0

OP Mainnet$0

Sonic$0

DEX Volume 24h$16.13m

Ethereum$9.7m

Arbitrum$5.88m

Monad$298,494

X Layer$224,099

Base$11,214

Plasma$7,816

Hyperliquid L1$7,030

Robinhood Chain$614

BSC$120

Berachain$0

Mantle$0

OP Mainnet$0

Sonic$0

Cumulative DEX Volume$57.801b

Ethereum$52.093b

Arbitrum$3.226b

BSC$1.581b

Monad$315.84m

Mantle$303.09m

Plasma$208.78m

Hyperliquid L1$45.58m

Base$17.25m

X Layer$6.41m

Robinhood Chain$4.14m

OP Mainnet$158,370

Berachain$0

Sonic$0

Staked$206.85m

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.

Website X/Twitter

Category:Yield

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.Fees: Total yield from deposited assets + trading fees paid by yield traders.Revenue: Sum of 5% fee from all yield + points accrued and 80% trading fees.Holders Revenue: 80% revenue distributed to sPENDLE holders (100% before September 2025).DEX 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.

Yields

Pools Tracked160

Average Supply APY12.23%

User Activity

Active Addresses (24h)424

New Addresses (24h)36

Transactions (24h)780

Gas Used (24h)0.15 ETH

Gas Cost (24h)$367

Competitors

Equilibria ($12.67m)Napier ($107,734)Spectra V2 ($10.54m)Penpie ($6.17m)Saffron Vaults ($2.67m)Spark Savings ($1.604b)Stake DAO Yield ($146.67m)AUTOfinance ($39.58m)WOOFi Earn ($4.02m)TermFinance Vaults ($1.65m)

Income statement for Pendle V2

YearlyQuarterlyMonthlyCumulative

	Q4 2026*	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023
Gross Protocol Revenue	$162.33K	$1.78M	$3.85M	$2.65M	$8.65M	$9.66M	$8.01M	$12.93M	$5.96M	$3.12M	$8.48M	$1.54M	$109.88K	$81.17K
YT And Swap Fees	$159.25K	$1.75M	$3.8M	$2.62M	$8.34M	$9.25M	$7.89M	$12.58M	$0	$0	$0	$0	$0	$0
AMM Swap Fees To LPs	$3.08K	$26.5K	$45.59K	$32.59K	$261.95K	$407.74K	$118.65K	$355.82K	$0	$0	$0	$0	$0	$0
Cost of Revenue	$3.08K	$26.5K	$45.59K	$32.59K	$265.63K	$407.74K	$118.65K	$355.82K	$367.2K	$107.23K	$674.67K	$240.61K	$57.15K	$0
AMM Swap Fees To LPs	$3.08K	$26.5K	$45.59K	$32.59K	$261.95K	$407.74K	$118.65K	$355.82K	$0	$0	$0	$0	$0	$0
Gross Profit	$159.25K	$1.75M	$3.8M	$2.62M	$8.38M	$9.25M	$7.89M	$12.58M	$5.6M	$3.01M	$7.81M	$1.3M	$105.92K	$61.13K
YT And Swap Fees	$159.25K	$1.75M	$2.21M	$2.1M	$5.26M	$7.89M	$4.97M	$5.18M	$0	$0	$0	$0	$0	$0
Other Fees	$0	$0	$1.6M	$515.41K	$3.09M	$1.36M	$2.93M	$7.4M	$0	$0	$0	$0	$0	$0
Earnings	$159.25K	$1.75M	$3.8M	$2.62M	$8.38M	$9.25M	$7.89M	$12.58M	$5.6M	$3.01M	$7.81M	$1.3M	$105.92K	$61.13K
Token Holder Net Income	$127.4K	$1.4M	$3.04M	$2.09M	$6.7M	$8.61M	$7.89M	$12.58M	$4.48M	$2.41M	$6.25M	$1.04M	$41.65K	$0
sPENDLE Distributions	$127.4K	$1.4M	$3.04M	$2.09M	$6.67M	$8.61M	$7.89M	$12.58M	$0	$0	$0	$0	$0	$0

Income flow visualization

YearlyQuarterlyMonthlyCumulative

Frequently asked questions

What is Pendle V2's TVL?

Pendle V2 currently has $1.231b in total value locked. TVL has decreased 0.6% over the past 30 days.

What chains does Pendle V2 operate on?

Pendle V2 operates on 14 chains: Ethereum, Arbitrum, Monad, X Layer, and Plasma and 9 others. Ethereum holds the largest share at 63.7%.

How much has Pendle V2 generated in fees and revenue?

Over the past 30 days, Pendle V2 generated $391,643 in fees. Of that, $384,979 was protocol revenue. Based on the trailing year, the annualized rate is $16.02m in fees and $15.75m in revenue.

How does Pendle V2's TVL compare to similar protocols?

Among Yield protocols tracked by DefiLlama, Pendle V2 ranks #2 by TVL. The category holds $4.87b across 569 protocols, and Pendle V2 accounts for 25.3% of that total. Other leading protocols include Equilibria, Napier, Spectra V2, Penpie, Saffron Vaults, Spark Savings, Stake DAO Yield, AUTOfinance, WOOFi Earn, and TermFinance Vaults.

How much trading volume does Pendle V2 process?

Pendle V2 processed $807.63m in DEX volume over the past 30 days.