Total Value Locked$1.159b
TVL by Chain
Ethereum$673.61m
Monad$169.03m
Arbitrum$133.18m
Plasma$124.1m
Hyperliquid L1$30.17m
BSC$18.18m
X Layer$6.05m
Base$3.85m
Sonic$591,451.28
Mantle$128,070.09
Avalanche$45,412.12
OP Mainnet$20,619.33
Berachain$8,355.4
Key Metrics
Fees (Annualized)$21.75m
Fees 30d$675,665
Ethereum$387,143
Plasma$190,906
Arbitrum$56,741
Monad$24,483
Base$9,201.29
BSC$5,309.51
Hyperliquid L1$1,845.85
Sonic$32.41
Mantle$4.01
OP Mainnet$0.13
Berachain$0.11
Fees 7d$67,631
Ethereum$50,928
Plasma$7,571
Monad$5,993
Arbitrum$2,665
Hyperliquid L1$217.41
Base$156.29
BSC$100.29
OP Mainnet$0.13
Berachain$0
Mantle$0
Sonic$0
Fees 24h$11,414
Ethereum$6,636
Monad$2,039
Arbitrum$1,527
Plasma$1,001
Hyperliquid L1$193
Base$8.91
BSC$8.64
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Fees$66.05m
Ethereum$53.76m
Arbitrum$5.63m
Plasma$1.85m
Berachain$1.49m
BSC$1.41m
Mantle$844,204.01
Base$511,384.2
Hyperliquid L1$318,621.85
Sonic$147,072.41
Monad$62,309
OP Mainnet$24,363.13
Revenue (Annualized)$21.12m
Revenue 30d$668,638
Ethereum$381,836
Plasma$190,865
Arbitrum$56,475
Monad$23,396
Base$8,955.47
BSC$5,261.77
Hyperliquid L1$1,813.62
Sonic$32.41
Mantle$4.01
OP Mainnet$0.13
Berachain$0.11
Revenue 7d$66,021
Ethereum$49,677
Plasma$7,557
Monad$5,748
Arbitrum$2,601
Hyperliquid L1$211.18
Base$138.47
BSC$87.67
OP Mainnet$0.13
Berachain$0
Mantle$0
Sonic$0
Revenue 24h$11,185
Ethereum$6,471
Monad$2,004
Arbitrum$1,509
Plasma$995
Hyperliquid L1$189
Base$8.78
BSC$8
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Revenue$63.4m
Ethereum$51.65m
Arbitrum$5.41m
Plasma$1.78m
Berachain$1.48m
BSC$1.36m
Mantle$841,550.01
Base$440,963.25
Hyperliquid L1$206,509.62
Sonic$133,620.41
Monad$60,373
OP Mainnet$24,238.13
Holders Revenue (Annualized)$17.32m
Holders Revenue 30d$534,910
Ethereum$305,468
Plasma$152,692
Arbitrum$45,181
Monad$18,715
Base$7,162.82
BSC$4,210.42
Hyperliquid L1$1,450.1
Sonic$25.93
Mantle$3.21
OP Mainnet$0.1
Berachain$0.09
Holders Revenue 7d$52,813
Ethereum$39,740
Plasma$6,046
Monad$4,598
Arbitrum$2,080
Hyperliquid L1$168.47
Base$110.17
BSC$69.74
OP Mainnet$0.1
Berachain$0
Mantle$0
Sonic$0
Holders Revenue 24h$8,947
Ethereum$5,177
Monad$1,603
Arbitrum$1,207
Plasma$796
Hyperliquid L1$151
Base$7.02
BSC$6.4
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Holders Revenue$55.93m
Ethereum$45.89m
Arbitrum$4.55m
Berachain$1.47m
Plasma$1.43m
BSC$1.12m
Mantle$702,619.21
Base$410,926.84
Hyperliquid L1$165,208.1
Sonic$129,119.93
Monad$48,296
OP Mainnet$19,973.1
Incentives 1y$8.17m
$48,336.76
$10,937.99
$1,015.3
$90.47m
Earnings (Annualized)$12.95m
$620,301.24
$55,083.01
$10,169.7
-$27.08m
DEX Volume 30d$391.46m
DEX Volume 30d by chain
Ethereum$283.13m
Monad$65.02m
Arbitrum$15.56m
BSC$13.11m
Plasma$10.1m
Hyperliquid L1$3.55m
Base$981,705
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 7d$93.2m
Ethereum$66.6m
Monad$16.18m
Plasma$5.88m
Arbitrum$2.16m
BSC$1.24m
Hyperliquid L1$1.1m
Base$44,851
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 24h$17.57m
Ethereum$10.2m
Arbitrum$3.36m
Monad$2.95m
Plasma$804,039
Hyperliquid L1$202,865
BSC$35,671
Base$6,116
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative DEX Volume$56.554b
Ethereum$51.238b
Arbitrum$3.115b
BSC$1.578b
Mantle$303.09m
Plasma$174.26m
Monad$122.62m
Base$16.17m
Hyperliquid L1$6.89m
OP Mainnet$158,370
Berachain$0
Sonic$0
Market Cap$275.95m
$PENDLE Price$1.6
$451.17m
$451.51m
$PENDLE Volume 24h$65.61m
CEX Volume$25.65m
DEX Volume$40.07m(61.08% of total)
Staked$157.17m(56.96% 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 APY10.61%
User Activity
Active Addresses (24h)530
New Addresses (24h)66
Transactions (24h)1,018
Gas Used (24h)0.22 ETH
Gas Cost (24h)$503
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 $1.159b in total value locked. TVL has decreased 0.4% over the past 30 days.
What chains does Pendle operate on?
Pendle operates on 13 chains: Ethereum, Avalanche, Berachain, OP Mainnet, and Sonic and 8 others. Ethereum holds the largest share at 58.1%.
How much has Pendle generated in fees and revenue?
Over the past 30 days, Pendle generated $675,665 in fees. Of that, $668,638 was protocol revenue. Based on the trailing year, the annualized rate is $21.75m in fees and $21.12m in revenue.
What is the PENDLE token price and valuation?
PENDLE is currently trading at $1.6. Its circulating market capitalization is $275.95m, ranking it #201. Its fully diluted valuation is $451.17m. Supply currently stands at 172.19m circulating, 281.53m total supply.
How has PENDLE performed recently?
PENDLE is up 21.5% over the past 7 days and down 0.6% over the past 30 days. Its all-time high is $7.5, reached on Apr 11, 2024. The token is currently 78.7% below that level.
How does Pendle's TVL compare to similar protocols?
Among Yield protocols tracked by DefiLlama, Pendle ranks #2 by TVL. The category holds $4.556b 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 $391.46m in DEX volume over the past 30 days.
