Total Value Locked$1.167b
TVL by Chain
Ethereum$683.23m
Monad$171.36m
Arbitrum$133.56m
Plasma$118.7m
Hyperliquid L1$30.8m
BSC$18.34m
X Layer$6.15m
Base$3.87m
Sonic$598,680.27
Mantle$129,165.17
Avalanche$45,434.58
OP Mainnet$21,134.99
Berachain$8,437.02
Key Metrics
Fees (Annualized)$21.71m
Fees 30d$683,625
Ethereum$391,013
Plasma$192,324
Arbitrum$57,764
Monad$26,013
Base$9,228.29
BSC$5,222.86
Hyperliquid L1$2,024.85
Sonic$32.41
Mantle$4.01
OP Mainnet$0.13
Berachain$0.11
Fees 7d$62,609
Ethereum$41,644
Plasma$9,254
Monad$7,057
Arbitrum$4,052
Hyperliquid L1$369.41
Base$167.29
BSC$65.64
OP Mainnet$0.13
Berachain$0
Mantle$0
Sonic$0
Fees 24h$11,998
Ethereum$7,602
Monad$2,024
Plasma$1,189
Arbitrum$748
Hyperliquid L1$386
Base$42
BSC$6.82
Sonic$0.08
Berachain$0
Mantle$0
OP Mainnet$0
Cumulative Fees$66.06m
Ethereum$53.77m
Arbitrum$5.63m
Plasma$1.86m
Berachain$1.49m
BSC$1.41m
Mantle$844,204.01
Base$511,471.29
Hyperliquid L1$319,001.85
Sonic$147,072.49
Monad$64,179
OP Mainnet$24,363.13
Revenue (Annualized)$21.09m
Revenue 30d$676,591
Ethereum$385,740
Plasma$192,278
Arbitrum$57,489
Monad$24,898
Base$8,981.47
BSC$5,177.76
Hyperliquid L1$1,991.62
Sonic$32.41
Mantle$4.01
OP Mainnet$0.13
Berachain$0.11
Revenue 7d$61,220
Ethereum$40,627
Plasma$9,235
Monad$6,796
Arbitrum$3,983
Hyperliquid L1$362.18
Base$157.47
BSC$58.66
OP Mainnet$0.13
Berachain$0
Mantle$0
Sonic$0
Revenue 24h$11,671
Ethereum$7,354
Monad$1,993
Plasma$1,183
Arbitrum$734
Hyperliquid L1$358
Base$42
BSC$6.6
Sonic$0.08
Berachain$0
Mantle$0
OP Mainnet$0
Cumulative Revenue$63.41m
Ethereum$51.66m
Arbitrum$5.41m
Plasma$1.79m
Berachain$1.48m
BSC$1.36m
Mantle$841,550.01
Base$441,049.47
Hyperliquid L1$206,863.62
Sonic$133,620.49
Monad$62,206
OP Mainnet$24,238.13
Holders Revenue (Annualized)$17.28m
Holders Revenue 30d$541,273
Ethereum$308,592
Plasma$153,823
Arbitrum$45,993
Monad$19,917
Base$7,182.82
BSC$4,142.61
Hyperliquid L1$1,592.1
Sonic$25.93
Mantle$3.21
OP Mainnet$0.1
Berachain$0.09
Holders Revenue 7d$48,973
Ethereum$32,501
Plasma$7,388
Monad$5,436
Arbitrum$3,186
Hyperliquid L1$289.47
Base$125.17
BSC$46.93
OP Mainnet$0.1
Berachain$0
Mantle$0
Sonic$0
Holders Revenue 24h$9,336
Ethereum$5,883
Monad$1,594
Plasma$947
Arbitrum$588
Hyperliquid L1$286
Base$33
BSC$5.28
Sonic$0.06
Berachain$0
Mantle$0
OP Mainnet$0
Cumulative Holders Revenue$55.94m
Ethereum$45.89m
Arbitrum$4.55m
Berachain$1.47m
Plasma$1.43m
BSC$1.12m
Mantle$702,619.21
Base$410,994.82
Hyperliquid L1$165,491.1
Sonic$129,119.99
Monad$49,762
OP Mainnet$19,973.1
Incentives 1y$8.08m
$48,557.14
$10,928.59
$1,102.65
$90.47m
Earnings (Annualized)$13m
$628,033.86
$50,291.41
$10,568.35
-$27.06m
DEX Volume 30d$402.21m
DEX Volume 30d by chain
Ethereum$290.16m
Monad$66.56m
Arbitrum$18.35m
BSC$12.66m
Plasma$9.64m
Hyperliquid L1$3.85m
Base$983,750
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 7d$88.28m
Ethereum$57.11m
Monad$17.38m
Plasma$6.46m
Arbitrum$5.26m
Hyperliquid L1$1.26m
BSC$766,915
Base$44,562
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 24h$18.58m
Ethereum$13.05m
Monad$2.25m
Arbitrum$2.19m
Hyperliquid L1$610,282
Plasma$355,916
BSC$114,728
Base$9,012
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative DEX Volume$56.577b
Ethereum$51.255b
Arbitrum$3.117b
BSC$1.578b
Mantle$303.09m
Plasma$174.75m
Monad$124.78m
Base$16.19m
Hyperliquid L1$7.63m
OP Mainnet$158,370
Berachain$0
Sonic$0
Market Cap$286.64m
$PENDLE Price$1.66
$468.65m
$468.45m
$PENDLE Volume 24h$70.06m
CEX Volume$30.58m
DEX Volume$38.38m(54.79% of total)
Staked$163.76m(57.13% 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 APY9.8%
User Activity
Active Addresses (24h)543
New Addresses (24h)43
Transactions (24h)978
Gas Used (24h)0.33 ETH
Gas Cost (24h)$762
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 $1.167b in total value locked. TVL has increased <0.1% over the past 30 days.
What chains does Pendle operate on?
Pendle operates on 13 chains: Ethereum, Avalanche, OP Mainnet, Berachain, and Monad and 8 others. Ethereum holds the largest share at 58.6%.
How much has Pendle generated in fees and revenue?
Over the past 30 days, Pendle generated $683,625 in fees. Of that, $676,591 was protocol revenue. Based on the trailing year, the annualized rate is $21.71m in fees and $21.09m in revenue.
What is the PENDLE token price and valuation?
PENDLE is currently trading at $1.66. Its circulating market capitalization is $286.64m, ranking it #198. Its fully diluted valuation is $468.65m. Supply currently stands at 172.19m circulating, 281.53m total supply.
How has PENDLE performed recently?
PENDLE is up 25.4% over the past 7 days and up 4.7% over the past 30 days. Its all-time high is $7.5, reached on Apr 11, 2024. The token is currently 77.9% 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 $4.593b across 584 protocols, and Pendle accounts for 25.4% 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 $402.21m in DEX volume over the past 30 days.
