Pendle (PENDLE)
Pendle is a decentralised finance protocol built around the trading of tokenised future yield. Instead of treating a yield-bearing asset as a single instrument, Pendle separates it into two components: a principal token, which represents ownership of the underlying asset at maturity, and a yield token, which represents the asset’s future yield over a defined period. This structure gives users a way to manage interest-rate exposure in crypto markets, including locking in fixed yields, speculating on future yield movements, or building more advanced strategies around liquid staking, stablecoins, and other DeFi yield sources.
The protocol is best known for its automated market maker designed for assets that lose time value as they approach maturity. This is an important distinction from conventional decentralised exchanges, because yield tokens have a predictable expiry profile and require liquidity mechanics that account for time decay. Pendle’s markets allow users to trade these instruments directly rather than relying only on passive yield accrual.
PENDLE is the native token associated with the ecosystem and is used in governance and incentive design. Holders can participate in decisions that influence protocol parameters, emissions, and market development. The project sits within a broader category of DeFi infrastructure focused on making on-chain yield more transparent, flexible, and tradable. By turning future returns into liquid instruments, Pendle brings concepts familiar from traditional fixed-income and interest-rate markets into decentralised finance, while adapting them to crypto-native assets and smart contract-based liquidity.
Last updated
- Market Cap
- $234M
- Fully Diluted Valuation
- $384M
- 24 Hour Trading Vol
- $18M
- Circulating Supply
- 172M
- Total Supply
- 282M
- Max Supply
- —
Pendle launches USDC vault on Morpho to boost PT market liquidity
Pendle launches USDG market on XLayer with exclusive incentives
Pendle brings srUSDat fixed-yield trading to Monad, hits $111M TVL
Pendle Finance adds PT-USDai and PT-sUSDD on Morpho with up to 27% APY
Aave to shut down V3 markets and delist 50 tokens across 6 blockchains
Aave is phasing out low-utilization assets and certain on-chain deployments, involving nearly $100 million in supplied assets.
Aave to Retire 50 Low-Adoption Asset Reserves, Shut Down Deployments on 6 Chains
Pendle partners with Project VEX AI for autonomous yield execution across 11 chains
Pendle Finance bets big on RWAs and institutional DeFi for the second half of 2026
Pendle hits $111M TVL on Monad, becoming the chain’s fifth-largest protocol
Boros launches $SKHYNIX funding rate market as traders bet on ADR premium collapse
Pendle introduces PT auto-looping feature for V2 update
Pendle upgrades Bungee Exchange V3 for seamless cross-chain swaps
Altcoin Whale Transactions Surge: MANA Up 833%, PENDLE 800%
Crypto market sees broad rebound, RWA sector up over 4%, BTC holds above $63,000
Pendle’s funding rate trading platform Boros surpasses the $20 billion notional trading volume milestone.
Can Pendle sustain 12% gain and breakout past $1.45? If not, what’s next?
Pendle Weekly: 5-Year Anniversary Recap and Monad Launch, Ecosystem Yield Farming, and Protocol Revenue Continues Expansion
Pendle buys back 1.7M tokens, distributes $1.4M in airdrops to sPENDLE holders
Pendle named to Fortune’s Crypto Innovators list among 30 leading projects
- Market Cap
- $234,406,831
- Fully Diluted Valuation
- $383,535,862
- 24 Hour Trading Vol
- $18,029,336
- 24h High
- $1.39
- 24h Low
- $1.34
- 24h Change
- +1.08%
- 7d Change
- -8.15%
- 30d Change
- -5.39%
- 1y Change
- -66.23%
- Market Cap Rank
- #144
- Market Cap Rank (rehypothecated)
- #200
- Circulating Supply
- 172,062,025
- Total Supply
- 281,527,448
- Max Supply
- —
- All-time high
- $7.50 (-81.84%) · Apr 10, 2024, 8:25 p.m.
- All-time low
- $0.03377729 (+3933.30%) · Nov 14, 2022, 7:15 a.m.
- Websitependle.finance
- X / Twittertwitter.com/pendle_fi