Pendle (PENDLE)
Total Value Locked$3.846b
TVL by Chain
Ethereum$1.719b
Plasma$1.163b
Arbitrum$488.46m
BSC$185.94m
staking$145.12m
Hyperliquid L1$105.58m
Berachain$16.68m
Base$16.57m
Sonic$3.17m
pool2$1.05m
Mantle$477,063
Avalanche$53,951
OP Mainnet$28,652
Key Metrics
Fees (Annualized)$33.65m
Fees 30d$2.76m
Fees 7d$151,757
Fees 24h$6,276
Cumulative Fees$62.89m
Revenue (Annualized)$33.06m
Revenue 30d$2.71m
Revenue 7d$143,418
Revenue 24h$5,958
Cumulative Revenue$60.52m
Holders Revenue (Annualized)$26.45m
Holders Revenue 30d$2.17m
Holders Revenue 7d$114,737
Holders Revenue 24h$4,767
Cumulative Holders Revenue$48.33m
Incentives (Annualized)$9.96m
Incentives 30d$816,734
Incentives 7d$166,018
Incentives 24h$28,864
Cumulative Incentives$73.93m
Earnings (Annualized)$23.09m
Earnings 30d$1.89m
Earnings 7d-$22,600
Earnings 24h-$22,906
Cumulative Earnings-$13.41m
DEX Volume 30d$1.501b
DEX Volume 7d$305.27m
DEX Volume 24h$19.58m
Cumulative DEX Volume$51.335b
Market Cap$349.97m
$PENDLE Price$2.13
All Time High$7.5
All Time Low$0.034
Fully Diluted Valuation$600.07m
Outstanding FDV$317.66m
$PENDLE Volume 24h$18.87m
CEX Volume$13.4m
DEX Volume$4.81m(25.51% of total)
Staked$145.12m(41.47% 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)1,761
Transactions (24h)2,671
Gas Used (24h)$487.19
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 | $7.03m | $16.17m | $7.52m | $12.88m | $5.96m | $3.12m | $8.48m | $1.54m | $109,876 | $81,172 | $0 | $0 | $0 |
| Revenue | $6.86m | $15.85m | $7.41m | $12.53m | $5.6m | $3.01m | $7.81m | $1.3m | $105,923 | $61,129 | $0 | $0 | $0 |
| Incentives | $2.74m | $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 | $4.12m | $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 | $5.48m | $12.68m | $5.93m | $10.02m | $4.48m | $2.41m | $6.25m | $1.04m | $41,653 | $0 | $0 | $0 | $0 |