Pendle (PENDLE)
Total Value Locked$13.377b
TVL by Chain
Ethereum$11.24b
Hyperliquid L1$1.41b
BSC$365.91m
Arbitrum$254.31m
Base$48.83m
Berachain$30.07m
Sonic$16.76m
Mantle$11.2m
Avalanche$61,888
OP Mainnet$53,827
Key Metrics
Fees (Annualized)$106.95m
Fees 30d$8.77m
Fees 7d$3.71m
Fees 24h$448,477
Cumulative Fees$54.33m
Revenue (Annualized)$105.61m
Revenue 30d$8.66m
Revenue 7d$3.68m
Revenue 24h$441,413
Cumulative Revenue$52.22m
Holders Revenue (Annualized)$84.49m
Holders Revenue 30d$6.93m
Holders Revenue 7d$2.94m
Holders Revenue 24h$353,130
Cumulative Holders Revenue$41.69m
Incentives (Annualized)$29.64m
Incentives 30d$2.43m
Incentives 7d$479,341
Incentives 24h$86,090
Cumulative Incentives$70.3m
Earnings (Annualized)$75.97m
Earnings 30d$6.23m
Earnings 7d$3.2m
Earnings 24h$355,323
Cumulative Earnings-$18.08m
DEX Volume 30d$5.778b
DEX Volume 7d$2.093b
DEX Volume 24h$503.72m
Cumulative DEX Volume$41.351b
Market Cap$904.02m
$PENDLE Price$5.34
All Time High$7.5
All Time Low$0.034
Fully Diluted Valuation$1.502b
Outstanding FDV$790.24m
$PENDLE Volume 24h$91.26m
CEX Volume$66.56m
DEX Volume$23.67m(25.93% of total)
Staked$320.87m(35.49% 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)2,316
Transactions (24h)5,209
Gas Used (24h)$12,550
Income Statement for Pendle
| 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 | $14.64m | $7.52m | $12.88m | $5.96m | $3.12m | $8.48m | $1.54m | $109,876 | $81,172 | $0 | $0 | $0 |
| Revenue | $14.41m | $7.41m | $12.53m | $5.6m | $3.01m | $7.81m | $1.3m | $105,923 | $61,129 | $0 | $0 | $0 |
| Incentives | $6.46m | $6.91m | $7.52m | $12.3m | $7.87m | $12.93m | $7.54m | $3.23m | $2.51m | $1.93m | $921,844 | $127,733 |
| Earnings | $7.95m | $502,911 | $5m | -$6.7m | -$4.86m | -$5.12m | -$6.24m | -$3.12m | -$2.44m | -$1.93m | -$921,844 | -$127,733 |
| Token Holder Net Income | $11.53m | $5.93m | $10.02m | $4.48m | $2.41m | $6.25m | $1.04m | $41,653 | $0 | $0 | $0 | $0 |