About
Pendle splits yield-bearing assets into principal (PT) and yield (YT) tokens, creating a fixed-income and yield-trading market for DeFi. It became the dominant venue for trading and locking in stablecoin yields (sUSDe, sUSDS, sDAI, USR), at one point holding over 50% of the DeFi yield sector's TVL with a peak above $13B. Its January 2026 sPENDLE upgrade replaced vePENDLE locks with liquid staking and revenue buybacks.
Key products
Chains
- Founded
- 2021
- HQ
- Singapore
- Stage
- Token (PENDLE)
- Funding
- Raised seed; Binance Labs / Bitscale backers
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