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Pendle

Pendle

PENDLE
#114
$1.7910Down 0.68 percent($0.01)

Key Stats

Market Cap$311.52MDown 0.68 percent
Volume (24h)$17.69M
Fully Diluted Value$504.23M
Vol/Mkt Cap (24h)5.68%
Total Supply281.53M PENDLE
Max Supply∞
Circulating Supply173.93M PENDLE
Launch Date2021-04-27
Built OnETH
Token StandardERC20
Smart Contract Address0x8085…a827
Decimal Places18

Pendle Information

Websites
www.pendle.financeWhitepaper
Industries
DeFi

Pendle Price Converter

PendlePENDLE
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Latest Pendle News

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Pendle's TVL Hits Record $8.3B After Yield-Trading Platform Debut
Positive

Pendle's TVL Hits Record $8.3B After Yield-Trading Platform Debut

Negative

DeFi Protocol Penpie Exploited for $27M of Crypto Assets; PNP Token Craters 40%

Positive

First Mover Americas: BTC Volatility Spikes, Crypto Derivatives Volume Surges

Positive

Tokenization News Roundup: Resource Extraction, Social Media Monetization and Real World Connections

Pendle Markets

View all
InstrumentExchangeBenchmark DataPrice24h Change
PendleUSDT logo
PENDLE-USDT
PENDLEUSDT
binance logobinance
AA
1.78USDT
1.02%
PendleUSDT logo
PENDLE-USDT
PENDLE_USDT
whitebit logowhitebit
BB
1.78USDT
1.00%
PendleUSDT logo
PENDLE-USDT
PENDLE-USDT
okex logookex
A
1.78USDT
0.91%
PendleUSDT logo
PENDLE-USDT
PENDLEUSDT
bybit logobybit
A
1.78USDT
1.04%
PendleUSD logo
PENDLE-USD
PENDLE-USD
coinbase logocoinbase
AA
1.78USD
0.98%

Pendle Supported Platforms

View all
Trading AsToken StandardBuilt OnSmart Contract AddressLaunch Date
PENDLEERC20ETH0x808507121b80c02388fad14726482e061b8da8272021-04-27
MPENDLEERC20AVAX0xfb98b335551a418cd0737375a2ea0ded62ea213b2021-10-27

About Pendle

Pendle (PENDLE) is a DeFi protocol enabling the tokenisation and trading of future yield on yield-bearing assets. It supports strategies like fixed yield, speculative yield trading, and liquidity provision, with a focus on permissionless access and decentralised governance through vePENDLE. Pendle's innovative use of tokenisation opens up new possibilities for yield management and market participation.

Frequently Asked Questions

Pendle is a decentralised finance (DeFi) protocol focused on yield tokenisation and trading. It allows users to manage and trade future yield on various yield-bearing assets. Pendle tokenises yield-bearing tokens into two components: Principal Tokens (PT) and Yield Tokens (YT). These components can be traded independently on Pendle’s automated market maker (AMM), which supports different DeFi strategies including fixed yield and speculative yield trading. The protocol's architecture facilitates yield management and enables complex financial strategies like hedging yield fluctuations or gaining leveraged exposure to yield changes.

Pendle operates permissionlessly, supporting diverse yield-bearing assets across various chains, including Ethereum and layer-2 solutions like Arbitrum. The protocol's governance is driven by vePENDLE, a vote-escrowed token system that incentivises participation in governance and liquidity provision.

Pendle is primarily used for yield management and yield trading. The protocol’s main use cases include:

  1. Yield Tokenisation: Pendle allows users to convert yield-bearing assets (e.g., stETH) into two separate components: Principal Tokens (PT), which represent the principal amount, and Yield Tokens (YT), which represent the future yield. This tokenisation enables users to either lock in fixed yields or speculate on yield fluctuations.

  2. Trading on Pendle AMM: Users can trade PTs and YTs independently on Pendle’s AMM. By trading PTs, users can lock in future yield or buy yield at a discount. YT holders can speculate on increasing yield by purchasing YTs during low market conditions and selling them at a higher value.

  3. Advanced Yield Strategies: Users can engage in various strategies, such as fixed yield (earning a predetermined yield on assets), leveraged yield (increasing exposure to yield changes), or hedging against yield volatility. Pendle also supports liquidity provision in its AMM, where users earn rewards from trading fees, vePENDLE incentives, and rewards from yield-bearing assets like stETH.

  4. vePENDLE Governance and Incentives: Holders of vePENDLE (vote-escrowed PENDLE) can lock their PENDLE tokens to participate in governance and boost their liquidity rewards by up to 250%. Additionally, vePENDLE holders control the flow of rewards to liquidity pools by voting, and they earn a share of the fees generated by the protocol.

Pendle was created by Vu Nguyen and Nghia Pham. The team launched the project with the goal of developing a permissionless protocol for trading and managing yield derivatives in the DeFi space. Their work is inspired by concepts from traditional finance, particularly in the interest rate derivative markets, which they aim to replicate in the DeFi ecosystem.

  1. Yield Tokenisation and Trading: Pendle tokenises yield-bearing assets and separates them into principal and yield components, enabling advanced trading strategies.

  2. vePENDLE Governance: Vote-escrowed PENDLE tokens provide governance rights and enhanced rewards for liquidity providers, incentivising long-term participation.

  3. Cross-Chain Compatibility: Pendle operates across Ethereum and layer-2 networks like Arbitrum, ensuring flexibility for users and efficient liquidity distribution.

  4. Fixed and Variable Yield Strategies: Users can implement strategies based on market conditions, such as fixed yield or speculative yield trading.