Total Value Locked$1.162b
TVL by Chain
Ethereum$676.39m
Monad$166.76m
Arbitrum$132.97m
Plasma$132.51m
Hyperliquid L1$25.35m
BSC$17.78m
X Layer$6.05m
Base$3.46m
Sonic$552,403.73
Mantle$120,086.61
Avalanche$45,139.78
OP Mainnet$18,165.65
Berachain$6,611.44
Key Metrics
Fees (Annualized)$21.85m
Fees 30d$686,941
Ethereum$390,586
Plasma$193,337
Arbitrum$63,847
Monad$22,201
Base$9,161.29
BSC$5,456.25
Hyperliquid L1$2,315.85
Sonic$32.41
Mantle$4.01
Berachain$0.11
OP Mainnet$0
Fees 7d$84,502
Ethereum$68,689
Plasma$6,806
Monad$4,669
Arbitrum$3,888
Base$196.29
Hyperliquid L1$133.05
BSC$120.03
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Fees 24h$5,363
Ethereum$4,063
Monad$787
Plasma$372
Arbitrum$53
Hyperliquid L1$44
Base$40
BSC$3.88
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$511,343.29
Hyperliquid L1$318,360.85
Sonic$147,072.41
Monad$57,399
OP Mainnet$24,363
Revenue (Annualized)$21.21m
Revenue 30d$679,952
Ethereum$385,220
Plasma$193,292
Arbitrum$63,583
Monad$21,216
Base$8,916.47
BSC$5,405
Hyperliquid L1$2,284.62
Sonic$32.41
Mantle$4.01
Berachain$0.11
OP Mainnet$0
Revenue 7d$82,667
Ethereum$67,143
Plasma$6,795
Monad$4,531
Arbitrum$3,803
Base$158.47
Hyperliquid L1$129.57
BSC$106.9
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Revenue 24h$5,014
Ethereum$3,835
Monad$672
Plasma$371
Arbitrum$50
Hyperliquid L1$43
Base$39
BSC$3.55
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Revenue$63.37m
Ethereum$51.64m
Arbitrum$5.41m
Plasma$1.78m
Berachain$1.48m
BSC$1.36m
Mantle$841,550.01
Base$440,923.47
Hyperliquid L1$206,255.62
Sonic$133,620.41
Monad$55,522
OP Mainnet$24,238
Holders Revenue (Annualized)$17.42m
Holders Revenue 30d$543,965
Ethereum$308,176
Plasma$154,634
Arbitrum$50,867
Monad$16,971
Base$7,133.82
BSC$4,325
Hyperliquid L1$1,828.1
Sonic$25.93
Mantle$3.21
Berachain$0.09
OP Mainnet$0
Holders Revenue 7d$66,132
Ethereum$53,713
Plasma$5,437
Monad$3,625
Arbitrum$3,041
Base$127.17
Hyperliquid L1$103.98
BSC$84.32
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Holders Revenue 24h$4,012
Ethereum$3,068
Monad$538
Plasma$297
Arbitrum$40
Hyperliquid L1$35
Base$31
BSC$2.84
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$410,895.82
Hyperliquid L1$165,006.1
Sonic$129,119.93
Monad$44,416
OP Mainnet$19,973
Incentives 1y$8.35m
$47,637.02
$10,300.54
$982.66
$90.47m
Earnings (Annualized)$12.86m
$632,314.98
$72,366.46
$4,031.34
-$27.1m
DEX Volume 30d$383.39m
DEX Volume 30d by chain
Ethereum$283.66m
Monad$57.98m
Arbitrum$17.3m
BSC$13.61m
Plasma$6.22m
Hyperliquid L1$3.63m
Base$983,415
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 7d$105.8m
Ethereum$87.84m
Monad$9.9m
Arbitrum$4.23m
BSC$1.44m
Plasma$1.42m
Hyperliquid L1$873,197
Base$86,201
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 24h$12.15m
Ethereum$10.3m
Monad$917,342
Plasma$743,529
BSC$75,043
Arbitrum$67,858
Hyperliquid L1$43,236
Base$8,467
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative DEX Volume$56.516b
Ethereum$51.222b
Arbitrum$3.111b
BSC$1.578b
Mantle$303.09m
Plasma$169.62m
Monad$109.45m
Base$16.16m
Hyperliquid L1$6.39m
OP Mainnet$158,370
Berachain$0
Sonic$0
Market Cap$232.01m
$PENDLE Price$1.35
$379.39m
$380.96m
$PENDLE Volume 24h$31.39m
CEX Volume$14.38m
DEX Volume$18.9m(60.22% of total)
Staked$134.81m(58.1% 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 APY10.16%
User Activity
Active Addresses (24h)520
New Addresses (24h)108
Transactions (24h)822
Gas Used (24h)0.14 ETH
Gas Cost (24h)$264
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 $1.162b in total value locked. TVL has increased 5.5% over the past 30 days.
What chains does Pendle operate on?
Pendle operates on 13 chains: Ethereum, Avalanche, Monad, Berachain, and Plasma and 8 others. Ethereum holds the largest share at 58.2%.
How much has Pendle generated in fees and revenue?
Over the past 30 days, Pendle generated $686,941 in fees. Of that, $679,952 was protocol revenue. Based on the trailing year, the annualized rate is $21.85m in fees and $21.21m in revenue.
What is the PENDLE token price and valuation?
PENDLE is currently trading at $1.37. Its circulating market capitalization is $236.66m, ranking it #204. Its fully diluted valuation is $387m. Supply currently stands at 172.16m circulating, 281.53m total supply.
How has PENDLE performed recently?
PENDLE is up 2.9% over the past 7 days and down 15% over the past 30 days. Its all-time high is $7.5, reached on Apr 11, 2024. The token is currently 81.7% 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 $4.421b across 560 protocols, and Pendle accounts for 26.3% of that total. Other leading protocols include Spark, Convex Finance, and Huma Finance V2.
How much trading volume does Pendle process?
Pendle processed $383.39m in DEX volume over the past 30 days.
