24h Change-1.17%
All Time HighApr 11, 2024$7.5
All Time LowNov 14, 2022$0.034
Market Cap$226.38m
Fully Diluted Valuation$373.45m
Circ. Supply170.65m PENDLE
Outstanding FDV$374.34m
CEX Volume$36.9m
DEX Volume$29.09m
Uniswap V3 · Arbitrum$10.3m
Balancer V2 · Ethereum$5.32m
Camelot V2 · Arbitrum$4.54m
Uniswap V3 · Ethereum$1.87m
Curve DEX · Ethereum$1.5m
Camelot V3 · Arbitrum$1.23m
Seed · May 4, 2021$3.7m
Aug 23, 2023Undisclosed
OTC · Nov 9, 2023Undisclosed
| Q2 2026* | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $3.05M | $2.64M | $8.64M | $9.65M | $8.01M | $12.93M | $5.96M | $3.11M | $8.48M | $1.53M | $109.87K | $81.17K |
| YT And Swap Fees | $3.02M | $2.61M | $8.34M | $9.25M | $7.89M | $12.57M | ||||||
| AMM Swap Fees To LPs | $32.48K | $32.58K | $261.94K | $407.74K | $118.65K | $355.81K | ||||||
Cost of Revenue | $32.48K | $32.58K | $265.63K | $407.74K | $118.65K | $355.81K | $367.20K | $107.23K | $674.66K | $240.61K | $57.15K | $0 |
| AMM Swap Fees To LPs | $32.48K | $32.58K | $261.94K | $407.74K | $118.65K | $355.81K | ||||||
Gross Profit | $3.02M | $2.61M | $8.38M | $9.25M | $7.89M | $12.57M | $5.59M | $3M | $7.80M | $1.29M | $105.92K | $61.12K |
| YT And Swap Fees | $1.70M | $2.10M | $5.25M | $7.89M | $4.96M | $5.17M | ||||||
| Other Fees | $1.32M | $515.41K | $3.08M | $1.35M | $2.92M | $7.39M | ||||||
Incentives | $392.16K | $1.28M | $3.07M | $7.36M | $6.98M | $7.52M | $12.31M | $7.87M | $13.94M | $7.72M | $3.25M | $2.56M |
| Ethereum Market Rewards | $327.18K | $776.19K | $1.60M | $5.18M | $5.05M | $5.86M | $9.61M | $6.11M | $9.65M | $5.26M | $1.86M | $1.25M |
| Merkle Distributor | $174.99 | $32.80 | $255.57K | $11.39K | $785.46 | |||||||
| LP Mining V1 | $810.29 | $1.08K | $428.71 | $18.29K | $1.78K | $367.46K | $164.36K | $20.14K | $50.15K | |||
| LP Mining V2 | $791.41 | $5.24K | $394.97K | $15.98K | $11.70K | $6.26K | ||||||
| Arbitrum Market Rewards | $33.07K | $330.67K | $651.88K | $492.72K | $639.13K | $797.59K | $1.82M | $1.74M | $3.15M | $2.24M | $1.27M | $1.07M |
| BNB Chain Market Rewards | $7.70K | $64.03K | $434.89K | $592.42K | $540.35K | $414.23K | $741.88K | $12.71K | $112.75K | $29.70K | $69.26K | $167.02K |
| Optimism Market Rewards | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $338.30 | $1.43K | $3.59K | $9.69K | $17.24K |
| Base Market Rewards | $6.10K | $63.55K | $89.82K | $169.69K | $342.91K | $356.20K | $115.95K | |||||
| Berachain Market Rewards | $0 | $32K | $117.55K | $114.25K | $13.91K | |||||||
| Sonic Market Rewards | $125.27 | $11.39K | $113.16K | $287.50K | $77.26K | |||||||
| HyperEVM Market Rewards | $17.28K | $51.75K | $246.42K | $695.80K | ||||||||
Earnings | $2.63M | $1.33M | $5.31M | $1.88M | $911.92K | $5.05M | -$6.72M | -$4.86M | -$6.13M | -$6.43M | -$3.15M | -$2.50M |
Token Holder Net Income | $2.42M | $2.09M | $6.70M | $8.60M | $7.89M | $12.57M | $4.47M | $2.40M | $6.24M | $1.03M | $41.65K | $0 |
| sPENDLE Distributions | $2.42M | $2.09M | $6.67M | $8.60M | $7.89M | $12.57M |
Risk-management actions published about PENDLE by tracked risk managers and governance contributors, newest first.
PENDLE is being added as a supply-only collateral asset in the new Euler DeFi market, allowing users to deposit it for liquidity without borrowing exposure to mitigate risks from its governance-driven liquidity profile.
PENDLE requires additional scrutiny for its yield-token dynamics and volatility; simulations provide guidelines for amplification and debt ceilings to address buy-side liquidity constraints and avoid excessive bad debt in high-stress scenarios.
Simulations recommend A=60 and 10% loan discount for Pendle's dynamics; Arbitrum stable-paired pools show insufficient liquidity for TWAP reliability, so Chainlink is favored for better performance against CEX benchmarks in volatile periods.
Pendle integration and PT token markets were aggressively incentivized, becoming two of the largest on Silo and driving significant base asset deposit growth for leveraged yield strategies. This bootstrapped new markets accounting for 66% of total supply, with activity persisting post-STIP due to airdrop farming and network effects.
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.
sPENDLE 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
Lock PENDLE for sPENDLE (replacing vePENDLE) which earns voting power
Holders vote on revenue allocation
80% of protocol revenue goes to buybacks with distributions to to sPENDLE holders. 10% of fees goes to the treasury, and 10% to protocol operations.
Value accrues through buybacks and distribution of bought back tokens to active sPENDLE holders
All value from Pendle & Boros accrues to PENDLE alone.
80% of protocol revenue goes to PENDLE buybacks and is distributed amongst active sPENDLE holders
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.
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
No burn mechanism is currently active
An is required to view token usage.
An is required to view token unlocks.
Showing 10 of 31 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabPENDLE-WETH0.3% | $1.08m | 29.32% | 29.32% | 58.67% | |||||
| open in new tabPENDLE-WETH0.3% | $993,388 | 54.89% | 54.89% | 69.78% | |||||
| open in new tabPENDLE-USDT0.3% | $596,037 | 177% | 177% | 140% | |||||
| open in new tabLINK-PENDLE1.00% | $369,109 | 28.49% | 28.49% | 43.99% | |||||
| open in new tabPENDLE-USDC0.3% | $219,173 | 62.07% | 62.07% | 37.04% | |||||
| open in new tabPENDLE-WETH | $142,079 | 49.19% | 49.19% | 48.18% | |||||
| open in new tabPENDLE-WETH0.05% | $123,931 | 51.59% | 51.59% | 36.96% | |||||
| open in new tabPENDLE-WETHUniswap | $38,768 | 81.47% | 49.98% | ||||||
| open in new tabPENDLE-WETH1% | $31,478 | 118% | 118% | 30.48% | |||||
| open in new tabPENDLE-WBNB1% | $22,440 | 87.17% | 87.17% | 89.91% |
Showing 10 of 20 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabPENDLE âžž WETH | $17.01m | -0.90% | 0.31% | -1.62% | 75% | $540,452 | $75,248 | ||
| open in new tabPENDLE âžž WBTC | $2.74m | -1.16% | 0.31% | -1.97% | 75% | $540,452 | $75,248 | ||
| open in new tabPENDLE âžž UNI | $962,103 | -0.09% | 0.31% | -0.54% | 75% | $540,452 | $75,248 | ||
| open in new tabPENDLE âžž WBTC | $796,624 | 0.13% | 0.31% | -0.24% | 75% | $540,452 | $75,248 | ||
| open in new tabPENDLE âžž LINK | $374,831 | -1.67% | 0.31% | -2.64% | 75% | $540,452 | $75,248 | ||
| open in new tabPENDLE âžž WSTETH | $158,693 | -0.15% | 0.31% | -0.61% | 75% | $540,452 | $75,248 | ||
| open in new tabPENDLE âžž WEETH | $96,718 | 0.31% | 0.31% | 0% | 75% | $540,452 | $75,248 | ||
| open in new tabPENDLE âžž RETH | $32,096 | 0.31% | 0.31% | -0.01% | 75% | $540,452 | $75,248 | ||
| open in new tabPENDLE âžž CBBTC | $23,504 | 0.13% | 0.31% | -0.24% | 75% | $540,452 | $75,248 | ||
| open in new tabPENDLE âžž CRV | $19,515 | 0.27% | 0.31% | -0.06% | 75% | $540,452 | $75,248 |
