Total Value Locked$1.205b
TVL by Chain
Ethereum$675.8m
Monad$218.76m
Arbitrum$138.72m
Plasma$100.56m
Hyperliquid L1$35.94m
X Layer$22.94m
BSC$7.81m
Base$3.77m
Sonic$603,917.15
Mantle$128,234.99
Avalanche$45,347.55
OP Mainnet$21,333.24
Berachain$7,790.47
Key Metrics
Fees (Annualized)$19.83m
Fees 30d$648,641
Ethereum$387,768
Plasma$181,126
Monad$37,058
Arbitrum$32,519
BSC$5,206.9
Hyperliquid L1$3,053.85
Base$1,887.86
Sonic$17.58
Mantle$3.84
OP Mainnet$0.28
Berachain$0.07
Fees 7d$158,068
Ethereum$124,989
Monad$13,281
Arbitrum$11,226
Plasma$6,501
Hyperliquid L1$1,274
BSC$640.23
Base$155.73
OP Mainnet$0.15
Berachain$0
Mantle$0
Sonic$0
Fees 24h$10,191
Ethereum$7,243
Monad$1,541
Arbitrum$544
Plasma$542
Hyperliquid L1$285
Base$34
BSC$1.57
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Fees$66.3m
Ethereum$53.96m
Arbitrum$5.65m
Plasma$1.87m
Berachain$1.49m
BSC$1.41m
Mantle$844,204.01
Base$511,967.86
Hyperliquid L1$320,863.85
Sonic$147,072.61
Monad$79,779
OP Mainnet$24,363.28
Revenue (Annualized)$19.25m
Revenue 30d$638,183
Ethereum$379,316
Plasma$181,064
Monad$35,745
Arbitrum$32,220
BSC$5,166.04
Hyperliquid L1$2,968.19
Base$1,682.69
Sonic$17.58
Mantle$3.84
OP Mainnet$0.28
Berachain$0.07
Revenue 7d$153,452
Ethereum$120,868
Monad$12,966
Arbitrum$11,116
Plasma$6,485
Hyperliquid L1$1,243
BSC$639.78
Base$133.53
OP Mainnet$0.15
Berachain$0
Mantle$0
Sonic$0
Revenue 24h$9,926
Ethereum$7,031
Monad$1,511
Plasma$538
Arbitrum$534
Hyperliquid L1$281
Base$30
BSC$1.46
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Revenue$63.64m
Ethereum$51.85m
Arbitrum$5.43m
Plasma$1.8m
Berachain$1.48m
BSC$1.36m
Mantle$841,550.01
Base$441,494.69
Hyperliquid L1$208,686.62
Sonic$133,620.61
Monad$77,416
OP Mainnet$24,238.28
Holders Revenue (Annualized)$15.4m
Holders Revenue 30d$510,547
Ethereum$303,450
Plasma$144,855
Monad$28,597
Arbitrum$25,775
BSC$4,133.24
Hyperliquid L1$2,374.55
Base$1,344.01
Sonic$14.06
Mantle$3.07
OP Mainnet$0.22
Berachain$0.06
Holders Revenue 7d$122,762
Ethereum$96,693
Monad$10,374
Arbitrum$8,891
Plasma$5,189
Hyperliquid L1$996
BSC$511.23
Base$106.63
OP Mainnet$0.12
Berachain$0
Mantle$0
Sonic$0
Holders Revenue 24h$7,941
Ethereum$5,625
Monad$1,209
Plasma$430
Arbitrum$427
Hyperliquid L1$225
Base$24
BSC$1.17
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Holders Revenue$56.12m
Ethereum$46.04m
Arbitrum$4.56m
Berachain$1.47m
Plasma$1.44m
BSC$1.12m
Mantle$702,619.21
Base$411,351.01
Hyperliquid L1$166,951.1
Sonic$129,120.08
Monad$61,932
OP Mainnet$19,973.22
Incentives 1y$7.21m
$52,471.38
$14,005.39
$1,435.58
$90.49m
Earnings (Annualized)$12.03m
$585,711.62
$139,446.61
$8,490.42
-$26.85m
DEX Volume 30d$530.32m
DEX Volume 30d by chain
Ethereum$381.41m
Monad$92.62m
Arbitrum$21.82m
Hyperliquid L1$12.93m
Plasma$11.83m
BSC$9.17m
Base$532,018.05
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 7d$178.73m
Ethereum$122.45m
Monad$39.52m
Arbitrum$7.35m
Hyperliquid L1$7.03m
Plasma$1.76m
BSC$502,718
Base$103,719.05
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 24h$13.96m
Monad$7.42m
Ethereum$4.97m
Plasma$727,725
Arbitrum$721,114
Hyperliquid L1$104,679
Base$6,081
BSC$2,863
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative DEX Volume$56.8b
Ethereum$51.405b
Arbitrum$3.123b
BSC$1.58b
Mantle$303.09m
Plasma$179.5m
Monad$174.94m
Hyperliquid L1$17.32m
Base$16.33m
OP Mainnet$158,370
Berachain$0
Sonic$0
Market Cap$305.37m
$PENDLE Price$1.77
$498.94m
$499.49m
$PENDLE Volume 24h$45.01m
CEX Volume$16.14m
DEX Volume$29.9m(66.43% of total)
Staked$178.56m(58.47% 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$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.
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 Tracked168
Average Supply APY41.7%
User Activity
Active Addresses (24h)446
New Addresses (24h)37
Transactions (24h)713
Gas Used (24h)0.18 ETH
Gas Cost (24h)$425
Competitors
Frequently Asked Questions
What is Pendle's TVL?
Pendle currently has $1.205b in total value locked. TVL has increased 2% over the past 30 days.
What chains does Pendle operate on?
Pendle operates on 13 chains: Ethereum, Avalanche, Berachain, X Layer, and OP Mainnet and 8 others. Ethereum holds the largest share at 56.1%.
How much has Pendle generated in fees and revenue?
Over the past 30 days, Pendle generated $648,641 in fees. Of that, $638,183 was protocol revenue. Based on the trailing year, the annualized rate is $19.83m in fees and $19.25m in revenue.
What is the PENDLE token price and valuation?
PENDLE is currently trading at $1.77. Its circulating market capitalization is $305.37m, ranking it #187. Its fully diluted valuation is $498.94m. Supply currently stands at 172.31m circulating, 281.53m total supply.
How has PENDLE performed recently?
PENDLE is up 3.4% over the past 7 days and up 31.2% over the past 30 days. Its all-time high is $7.5, reached on Apr 11, 2024. The token is currently 76.4% 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 $4.748b 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, WOOFi Earn, and TermFinance Vaults.
How much trading volume does Pendle process?
Pendle processed $530.32m in DEX volume over the past 30 days.
