$PENDLE Token Rights
Updated May 20, 2026Overview
- Token(s)
- PENDLEsPENDLE
- Token Type
- GovernanceUtility
- Utility
- Liquidity Incentives, Staking
PENDLE is the native governance and utility token of the Pendle Finance DeFi protocol for trading tokenized future yields. sPENDLE is its liquid staking version obtained by staking PENDLE, granting holders governance power and protocol revenue share.
Governance Rights
ControlsPENDLE is Pendle’s native governance token that includes voting power and revenue share. sPENDLE has a 14-day unstaking cooldown, or instant redemption for a 5% fee
Governance Decisions
Lock PENDLE for sPENDLE (replacing vePENDLE) which earns voting power
Treasury Decisions
Revenue Decisions
Holders vote on revenue allocation
Fee Switch
ON80% of protocol revenue goes to buybacks with distributions to to sPENDLE holders. 10% of fees goes to the treasury, and 10% to protocol operations.
Resources
Primary Value Accrual
BuybacksValue accrues through buybacks and distribution of bought back tokens to active sPENDLE holders
Equity Statement
All value from Pendle & Boros accrues to PENDLE alone.
Economic Rights
Value Capture80% of protocol revenue goes to PENDLE buybacks and is distributed amongst active sPENDLE holders
Buybacks
Protocol fees are harvested every 2 weeks and deposited into the buyback contract. Once funded, the contract executes PENDLE purchases over the subsequent week using a 1-hourly TWAP.
Dividends
Up to 100% of repurchased PENDLE will be distributed to active sPENDLE holders in the form of sPENDLE. sPENDLE holders must be active to receive rewards during a given epoch
Burns
N/ANo burn mechanism is currently active
Ownership
Raise History
3 rounds · $3.7m total| Date | Amount | Round | Valuation | |
|---|---|---|---|---|
| Nov 09, 2023 | — | OTC | — | |
| Aug 23, 2023 | — | — | — | |
| May 04, 2021 | $3.7m | Seed | — |
- Fundraising
- Equity
- Equity Revenue Capture
- No
- Associated Entities
- DAOOtherFoundation