Total Value Locked$1.177b
TVL by Chain
Ethereum$696.98m
Monad$174.66m
Arbitrum$133.57m
Plasma$111.75m
Hyperliquid L1$30.92m
BSC$18.27m
X Layer$6.39m
Base$3.88m
Sonic$602,607.61
Mantle$130,242.22
Avalanche$45,420.12
OP Mainnet$21,522.14
Berachain$7,967.48
Key Metrics
Fees (Annualized)$20.61m
Fees 30d$692,216
Ethereum$398,902
Plasma$192,713
Arbitrum$57,855
Monad$25,837
Base$9,217.13
BSC$5,127.89
Hyperliquid L1$2,528.85
Sonic$32.49
Mantle$4.01
Berachain$0.17
OP Mainnet$0.13
Fees 7d$73,852
Ethereum$52,836
Plasma$8,440
Monad$7,347
Arbitrum$4,138
Hyperliquid L1$879.41
Base$163.49
BSC$48.65
OP Mainnet$0.13
Sonic$0.08
Berachain$0.06
Mantle$0
Fees 24h$57,269
Ethereum$46,070
Arbitrum$4,732
Plasma$4,264
Monad$1,660
BSC$214
Base$208
Hyperliquid L1$121
Sonic$0.11
Berachain$0.01
Mantle$0
OP Mainnet$0
Cumulative Fees$66.13m
Ethereum$53.83m
Arbitrum$5.64m
Plasma$1.86m
Berachain$1.49m
BSC$1.41m
Mantle$844,204.01
Base$511,655.13
Hyperliquid L1$319,272.85
Sonic$147,072.6
Monad$64,930
OP Mainnet$24,363.13
Revenue (Annualized)$20m
Revenue 30d$684,994
Ethereum$393,457
Plasma$192,663
Arbitrum$57,594
Monad$24,725
Base$8,971.16
BSC$5,083.36
Hyperliquid L1$2,465.62
Sonic$32.49
Mantle$4.01
Berachain$0.17
OP Mainnet$0.13
Revenue 7d$72,044
Ethereum$51,447
Plasma$8,416
Monad$7,070
Arbitrum$4,065
Hyperliquid L1$841.18
Base$158.44
BSC$46.36
OP Mainnet$0.13
Sonic$0.08
Berachain$0.06
Mantle$0
Revenue 24h$57,055
Ethereum$45,907
Arbitrum$4,721
Plasma$4,263
Monad$1,627
BSC$210
Base$207
Hyperliquid L1$120
Sonic$0.11
Berachain$0.01
Mantle$0
OP Mainnet$0
Cumulative Revenue$63.48m
Ethereum$51.72m
Arbitrum$5.42m
Plasma$1.79m
Berachain$1.48m
BSC$1.36m
Mantle$841,550.01
Base$441,232.16
Hyperliquid L1$207,130.62
Sonic$133,620.6
Monad$62,919
OP Mainnet$24,238.13
Holders Revenue (Annualized)$16.19m
Holders Revenue 30d$547,995
Ethereum$314,765
Plasma$154,132
Arbitrum$46,076
Monad$19,779
Base$7,174.38
BSC$4,067.69
Hyperliquid L1$1,971.1
Sonic$25.99
Mantle$3.21
Berachain$0.14
OP Mainnet$0.1
Holders Revenue 7d$57,634
Ethereum$41,157
Plasma$6,733
Monad$5,656
Arbitrum$3,253
Hyperliquid L1$672.94
Base$124.75
BSC$37.69
OP Mainnet$0.1
Sonic$0.06
Berachain$0.05
Mantle$0
Holders Revenue 24h$45,644
Ethereum$36,725
Arbitrum$3,777
Plasma$3,410
Monad$1,302
BSC$168
Base$166
Hyperliquid L1$96
Sonic$0.09
Berachain$0.01
Mantle$0
OP Mainnet$0
Cumulative Holders Revenue$55.99m
Ethereum$45.94m
Arbitrum$4.55m
Berachain$1.47m
Plasma$1.43m
BSC$1.12m
Mantle$702,619.21
Base$411,141.38
Hyperliquid L1$165,705.1
Sonic$129,120.08
Monad$50,333
OP Mainnet$19,973.1
Incentives 1y$7.89m
$49,258.78
$11,908.46
$1,498.16
$90.48m
Earnings (Annualized)$12.11m
$635,735.22
$60,135.54
$55,556.84
-$27m
DEX Volume 30d$408.76m
DEX Volume 30d by chain
Ethereum$299.28m
Monad$64.43m
Arbitrum$17.77m
BSC$12.2m
Plasma$9.66m
Hyperliquid L1$4.53m
Base$885,299
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 7d$102.33m
Ethereum$69.26m
Monad$18.83m
Plasma$6.72m
Arbitrum$5.33m
Hyperliquid L1$1.71m
BSC$439,163
Base$48,203
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 24h$19.21m
Ethereum$10.12m
Monad$2.99m
Hyperliquid L1$2.26m
Plasma$1.87m
BSC$1.61m
Arbitrum$320,931
Base$28,111
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative DEX Volume$56.609b
Ethereum$51.279b
Arbitrum$3.115b
BSC$1.58b
Mantle$303.09m
Plasma$177.01m
Monad$128m
Base$16.22m
Hyperliquid L1$9.98m
OP Mainnet$158,370
Berachain$0
Sonic$0
Market Cap$303.47m
$PENDLE Price$1.76
$496.11m
$496.66m
$PENDLE Volume 24h$72.29m
CEX Volume$32.27m
DEX Volume$39.24m(54.28% of total)
Staked$172.91m(56.98% 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 APY17.11%
User Activity
Active Addresses (24h)628
New Addresses (24h)200
Transactions (24h)957
Gas Used (24h)0.19 ETH
Gas Cost (24h)$465
Competitors
Frequently Asked Questions
What is Pendle's TVL?
Pendle currently has $1.177b in total value locked. TVL has decreased 1% 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 59.2%.
How much has Pendle generated in fees and revenue?
Over the past 30 days, Pendle generated $692,216 in fees. Of that, $684,994 was protocol revenue. Based on the trailing year, the annualized rate is $20.61m in fees and $20m in revenue.
What is the PENDLE token price and valuation?
PENDLE is currently trading at $1.76. Its circulating market capitalization is $303.47m, ranking it #191. Its fully diluted valuation is $496.11m. Supply currently stands at 172.21m circulating, 281.53m total supply.
How has PENDLE performed recently?
PENDLE is up 33.2% over the past 7 days and up 18.2% over the past 30 days. Its all-time high is $7.5, reached on Apr 11, 2024. The token is currently 76.5% 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 $4.614b across 584 protocols, and Pendle accounts for 25.5% 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 $408.76m in DEX volume over the past 30 days.
