Total Value Locked$1.161b
TVL by Chain
Ethereum$669.07m
Monad$166.66m
Plasma$141.45m
Arbitrum$132.96m
Hyperliquid L1$23.85m
BSC$17.92m
X Layer$5.15m
Base$3.27m
Sonic$531,969.82
Mantle$115,446.24
Avalanche$45,057.86
OP Mainnet$16,672.99
Berachain$6,462.64
Key Metrics
Fees (Annualized)$21.92m
Fees 30d$686,833
Ethereum$391,862
Plasma$192,652
Arbitrum$63,434
Monad$21,889
Base$9,153.64
BSC$5,451.25
Hyperliquid L1$2,354.44
Sonic$32.41
Mantle$4.01
Berachain$0.11
OP Mainnet$0
Fees 7d$88,897
Ethereum$70,606
Plasma$7,806
Arbitrum$5,299
Monad$4,599
Base$287.64
BSC$153.03
Hyperliquid L1$145.64
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Fees 24h$6,449
Ethereum$4,708
Plasma$633
Arbitrum$607
Monad$465
BSC$17
Hyperliquid L1$10
Base$8.54
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Fees$66.02m
Ethereum$53.74m
Arbitrum$5.63m
Plasma$1.85m
Berachain$1.49m
BSC$1.41m
Mantle$844,204.01
Base$511,303.18
Hyperliquid L1$318,320.44
Sonic$147,072.41
Monad$56,660
OP Mainnet$24,363
Revenue (Annualized)$21.27m
Revenue 30d$679,780
Ethereum$386,387
Plasma$192,604
Arbitrum$63,176
Monad$20,949
Base$8,908.86
BSC$5,399
Hyperliquid L1$2,321.44
Sonic$32.41
Mantle$4.01
Berachain$0.11
OP Mainnet$0
Revenue 7d$87,085
Ethereum$69,053
Plasma$7,796
Arbitrum$5,218
Monad$4,496
Base$245.86
Hyperliquid L1$142.39
BSC$133.9
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Revenue 24h$6,243
Ethereum$4,568
Plasma$631
Arbitrum$594
Monad$415
BSC$17
Hyperliquid L1$9.19
Base$8.49
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Revenue$63.36m
Ethereum$51.63m
Arbitrum$5.41m
Plasma$1.78m
Berachain$1.48m
BSC$1.36m
Mantle$841,550.01
Base$440,884.35
Hyperliquid L1$206,215.63
Sonic$133,620.41
Monad$54,899
OP Mainnet$24,238
Holders Revenue (Annualized)$17.48m
Holders Revenue 30d$543,827
Ethereum$309,110
Plasma$154,084
Arbitrum$50,541
Monad$16,757
Base$7,127.94
BSC$4,319
Hyperliquid L1$1,858.16
Sonic$25.93
Mantle$3.21
Berachain$0.09
OP Mainnet$0
Holders Revenue 7d$69,665
Ethereum$55,241
Plasma$6,238
Arbitrum$4,173
Monad$3,596
Base$197.29
Hyperliquid L1$114.04
BSC$105.32
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Holders Revenue 24h$4,995
Ethereum$3,655
Plasma$505
Arbitrum$475
Monad$332
BSC$14
Hyperliquid L1$7.35
Base$6.79
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Holders Revenue$55.9m
Ethereum$45.87m
Arbitrum$4.55m
Berachain$1.47m
Plasma$1.43m
BSC$1.12m
Mantle$702,619.21
Base$410,864.73
Hyperliquid L1$164,973.51
Sonic$129,119.93
Monad$43,917
OP Mainnet$19,973
Incentives 1y$8.44m
$48,283.52
$10,921.69
$1,022.07
$90.47m
Earnings (Annualized)$12.83m
$631,496.48
$76,163.31
$5,220.93
-$27.1m
DEX Volume 30d$384.49m
DEX Volume 30d by chain
Ethereum$285.5m
Monad$57.51m
Arbitrum$16.93m
BSC$13.65m
Plasma$6.16m
Hyperliquid L1$3.75m
Base$987,981
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 7d$109.61m
Ethereum$90.66m
Monad$9.88m
Arbitrum$4.86m
BSC$2m
Plasma$1.18m
Hyperliquid L1$943,339
Base$93,388
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 24h$8.53m
Ethereum$6.6m
Monad$1.05m
Arbitrum$558,149
Plasma$192,988
Hyperliquid L1$103,520
BSC$17,918
Base$1,014
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative DEX Volume$56.505b
Ethereum$51.212b
Arbitrum$3.111b
BSC$1.578b
Mantle$303.09m
Plasma$168.83m
Monad$108.79m
Base$16.15m
Hyperliquid L1$6.37m
OP Mainnet$158,370
Berachain$0
Sonic$0
Market Cap$230.24m
$PENDLE Price$1.34
$376.5m
$378.14m
$PENDLE Volume 24h$21.17m
CEX Volume$10.03m
DEX Volume$11.7m(55.26% of total)
Staked$133.82m(58.12% 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.
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.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 Tracked180
Average Supply APY10.05%
User Activity
Active Addresses (24h)484
New Addresses (24h)75
Transactions (24h)913
Gas Used (24h)0.13 ETH
Gas Cost (24h)$248
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 $1.161b in total value locked. TVL has increased 5.4% over the past 30 days.
What chains does Pendle operate on?
Pendle operates on 13 chains: Ethereum, Avalanche, Monad, Berachain, and OP Mainnet and 8 others. Ethereum holds the largest share at 57.6%.
How much has Pendle generated in fees and revenue?
Over the past 30 days, Pendle generated $686,833 in fees. Of that, $679,780 was protocol revenue. Based on the trailing year, the annualized rate is $21.92m in fees and $21.27m in revenue.
What is the PENDLE token price and valuation?
PENDLE is currently trading at $1.34. Its circulating market capitalization is $230.24m, ranking it #200. Its fully diluted valuation is $376.5m. Supply currently stands at 172.16m circulating, 281.53m total supply.
How has PENDLE performed recently?
PENDLE is up 1.7% over the past 7 days and down 13.1% over the past 30 days. Its all-time high is $7.5, reached on Apr 11, 2024. The token is currently 82.1% 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 $4.326b across 559 protocols, and Pendle accounts for 26.8% of that total. Other leading protocols include Spark, Convex Finance, and Huma Finance V2.
How much trading volume does Pendle process?
Pendle processed $384.49m in DEX volume over the past 30 days.
