Pendle (PENDLE)
Total Value Locked$3.772b
TVL by Chain
Ethereum$1.709b
Plasma$1.072b
Arbitrum$457.88m
BSC$187.84m
staking$177.01m
Hyperliquid L1$130.92m
Berachain$17.5m
Base$14.46m
Sonic$3.31m
pool2$1.28m
Mantle$484,236
Avalanche$54,331
OP Mainnet$29,269
Key Metrics
Fees (Annualized)$35.72m
Fees 30d$2.93m
Fees 7d$232,246
Fees 24h$29,460
Cumulative Fees$62.71m
Revenue (Annualized)$34.97m
Revenue 30d$2.87m
Revenue 7d$220,779
Revenue 24h$28,015
Cumulative Revenue$60.35m
Holders Revenue (Annualized)$27.97m
Holders Revenue 30d$2.29m
Holders Revenue 7d$176,625
Holders Revenue 24h$22,414
Cumulative Holders Revenue$48.19m
Incentives (Annualized)$10.16m
Incentives 30d$832,641
Incentives 7d$190,089
Incentives 24h$36,725
Cumulative Incentives$73.68m
Earnings (Annualized)$24.81m
Earnings 30d$2.03m
Earnings 7d$30,690
Earnings 24h-$8,710
Cumulative Earnings-$13.34m
DEX Volume 30d$2.062b
DEX Volume 7d$325.14m
DEX Volume 24h$50.95m
Cumulative DEX Volume$50.996b
Market Cap$423.2m
$PENDLE Price$2.58
All Time High$7.5
All Time Low$0.034
Fully Diluted Valuation$725.36m
Outstanding FDV$383.62m
$PENDLE Volume 24h$56.53m
CEX Volume$43.18m
DEX Volume$10.08m(17.84% of total)
Staked$177.01m(41.83% 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 LabsSource: https://twitter.com/BinanceLabs/status/1694333672738979868
Nov 9, 2023Round: OTCInvestors: The Spartan GroupSource: https://twitter.com/pendle_fi/status/1722576784120758461
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 vePENDLEView code on GitHubDEX Volume: Volume of all spot token swaps that go through the protocolView 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
User Activity
Active Addresses (24h)1,698
Transactions (24h)2,884
Gas Used (24h)$1,166
Income Statement for Pendle
| Q4 2025* | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fees | $6.84m | $16.17m | $7.52m | $12.88m | $5.96m | $3.12m | $8.48m | $1.54m | $109,876 | $81,172 | $0 | $0 | $0 |
| Revenue | $6.68m | $15.85m | $7.41m | $12.53m | $5.6m | $3.01m | $7.81m | $1.3m | $105,923 | $61,129 | $0 | $0 | $0 |
| Incentives | $2.48m | $7.35m | $6.98m | $7.52m | $12.3m | $7.87m | $12.93m | $7.54m | $3.23m | $2.51m | $1.93m | $921,844 | $127,733 |
| Earnings | $4.2m | $8.5m | $428,868 | $5m | -$6.7m | -$4.86m | -$5.12m | -$6.24m | -$3.12m | -$2.44m | -$1.93m | -$921,844 | -$127,733 |
| Token Holder Net Income | $5.34m | $12.68m | $5.93m | $10.02m | $4.48m | $2.41m | $6.25m | $1.04m | $41,653 | $0 | $0 | $0 | $0 |