Ask about Pendle · freeTotal Value Locked$1.061b
TVL by Chain
Ethereum$778.44m
Monad$165.14m
Arbitrum$52.62m
X Layer$41.95m
Hyperliquid L1$9.45m
BSC$6.13m
Plasma$3.24m
Base$2.54m
Sonic$487,534
Robinhood Chain$347,658
Mantle$108,107
Avalanche$45,658
Berachain$1,359
OP Mainnet$0
Key Metrics
Fees 30d$458,558
Fees 30d by chain
Ethereum$308,551
Arbitrum$108,860
Monad$23,512
Plasma$6,596
Hyperliquid L1$6,361
Sonic$2,299
Base$1,262
X Layer$400.49
BSC$340.20
Robinhood Chain$313.24
Mantle$60.18
Berachain$0.37
OP Mainnet$0
Fees 7d$91,015
Ethereum$57,318
Arbitrum$26,962
Monad$4,136
Plasma$2,190
Hyperliquid L1$249.80
Base$100.14
BSC$29.33
X Layer$23.28
Robinhood Chain$5.59
Mantle$0.60
Sonic$0.04
Berachain$0
OP Mainnet$0
Fees 24h$6,263
Ethereum$3,855
Arbitrum$2,215
Monad$175
Base$12
X Layer$3.42
Hyperliquid L1$1.19
BSC$1.16
Robinhood Chain$0.56
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Fees$68.03m
Ethereum$54.66m
Arbitrum$6.58m
Plasma$1.9m
Berachain$1.49m
BSC$1.41m
Mantle$844,280
Base$516,797
Hyperliquid L1$331,100
Sonic$149,385
Monad$127,068
OP Mainnet$24,365
X Layer$605.87
Robinhood Chain$585.96
Revenue 30d$452,037
Revenue 30d by chain
Ethereum$303,960
Arbitrum$107,836
Monad$22,816
Plasma$6,589
Hyperliquid L1$6,306
Sonic$2,299
Base$1,160
X Layer$366.88
BSC$333.33
Robinhood Chain$310.09
Mantle$60.18
Berachain$0.37
OP Mainnet$0
Revenue 7d$89,594
Ethereum$56,539
Arbitrum$26,583
Monad$3,900
Plasma$2,190
Hyperliquid L1$245.92
Base$82.41
BSC$27.08
X Layer$20.03
Robinhood Chain$4.69
Mantle$0.60
Sonic$0.04
Berachain$0
OP Mainnet$0
Revenue 24h$6,147
Ethereum$3,787
Arbitrum$2,176
Monad$168
Base$10
X Layer$3.01
Hyperliquid L1$1.16
BSC$0.93
Robinhood Chain$0.45
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Revenue$65.31m
Ethereum$52.55m
Arbitrum$6.3m
Plasma$1.83m
Berachain$1.48m
BSC$1.36m
Mantle$841,622
Base$446,168
Hyperliquid L1$218,803
Sonic$135,933
Monad$123,617
OP Mainnet$24,240
Robinhood Chain$579.01
X Layer$555.67
Holders Revenue 30d$334,380
Holders Revenue 30d by chain
Ethereum$243,169
Arbitrum$59,021
Monad$18,252
Plasma$5,271
Hyperliquid L1$5,046
Sonic$1,838
Base$928
X Layer$293.49
BSC$266.24
Robinhood Chain$247.87
Mantle$48.14
Berachain$0.29
OP Mainnet$0
Holders Revenue 7d$61,736
Ethereum$45,232
Arbitrum$11,325
Monad$3,121
Plasma$1,752
Hyperliquid L1$197.55
Base$66.92
BSC$21.66
X Layer$16.03
Robinhood Chain$3.76
Mantle$0.48
Sonic$0.03
Berachain$0
OP Mainnet$0
Holders Revenue 24h$3,457
Ethereum$3,030
Arbitrum$279
Monad$135
Base$8.32
X Layer$2.41
Hyperliquid L1$0.93
BSC$0.74
Robinhood Chain$0.36
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative Holders Revenue$56.84m
Ethereum$46.6m
Arbitrum$4.64m
Berachain$1.47m
Plasma$1.46m
BSC$1.12m
Mantle$702,676
Base$415,093
Hyperliquid L1$175,043
Sonic$130,972
Monad$98,891
OP Mainnet$19,975
Robinhood Chain$462.85
X Layer$444.72
Incentives 1y$3.71m
Incentives 30d$76,217
Incentives 7d$36,011
Incentives 24h$2,816
Cumulative Incentives$90.64m
Earnings (Annualized)$10.8m
Earnings 30d$375,820
Earnings 7d$53,583
Earnings 24h$3,331
Cumulative Earnings-$25.34m
DEX Volume 30d$903.69m
DEX Volume 30d by chain
Ethereum$641.63m
Monad$141.58m
Arbitrum$95.48m
Plasma$15.98m
X Layer$4.02m
Hyperliquid L1$3.15m
Robinhood Chain$1.17m
Base$387,167
BSC$287,152
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 7d$247.45m
Ethereum$207.55m
Monad$27.54m
Plasma$7.91m
Arbitrum$3.97m
X Layer$133,901
Hyperliquid L1$116,643
BSC$108,126
Base$92,523
Robinhood Chain$26,465
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
DEX Volume 24h$21.02m
Ethereum$20m
Arbitrum$644,433
Monad$287,371
BSC$42,429
X Layer$33,108
Base$11,553
Plasma$6,524
Robinhood Chain$2,371
Hyperliquid L1$867
Berachain$0
Mantle$0
OP Mainnet$0
Sonic$0
Cumulative DEX Volume$58.369b
Ethereum$52.514b
Arbitrum$3.276b
BSC$1.581b
Monad$399.46m
Mantle$303.09m
Plasma$221.13m
Hyperliquid L1$45.97m
Base$17.51m
X Layer$6.51m
Robinhood Chain$4.21m
OP Mainnet$158,370
Berachain$0
Sonic$0
Perp Volume 30d$550.85m
Perp Volume 30d by chain
Arbitrum$550.85m
Perp Volume 7d$208.11m
Arbitrum$208.11m
Perp Volume 24h$34.54m
Arbitrum$34.54m
Cumulative Perp Volume$21.598b
Arbitrum$21.598b
Open Interest$162.37m
Market Cap$344.9m
$PENDLE Price$1.98
Fully Diluted Valuation$558.35m
Outstanding FDV$558.75m
$PENDLE Volume 24h$45.42m
CEX Volume$10.91m
DEX Volume$34.78m(76.59% of total)
Staked$187.15m(54.26% of mcap)
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 Labs
Nov 9, 2023Round: OTCInvestors: The Spartan Group
Protocol Information
Pendle Finance is a protocol that enables the trading of tokenized future yield on an AMM system.
Yields
Pools Tracked176
Average Supply APY63.23%
User Activity
Active Addresses (24h)448
New Addresses (24h)62
Transactions (24h)756
Gas Used (24h)0.12 ETH
Gas Cost (24h)$289
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
DEX Volume: Volume of all spot token swaps on the DEX
Perp Volume: Notional volume of all trades including leverage on the perp exchange
Incentives: 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
Pendle history
TVL is the default DefiLlama definition, which excludes Staking and Pool2. Daily values are UTC snapshots from Jun 16, 2021 to Oct 28, 2026.
All-time high TVL: $13.391b on Sep 19, 2025. All-time low TVL: $899,394 on Jun 16, 2021.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| Sep 29, 2026 | $1.27b |
| Sep 30, 2026 | $1.264b |
| Oct 1, 2026 | $1.257b |
| Oct 2, 2026 | $1.265b |
| Oct 3, 2026 | $1.269b |
| Oct 4, 2026 | $1.263b |
| Oct 5, 2026 | $1.266b |
| Oct 6, 2026 | $1.261b |
| Oct 7, 2026 | $1.262b |
| Oct 8, 2026 | $1.252b |
| Oct 9, 2026 | $1.217b |
| Oct 10, 2026 | $1.218b |
| Oct 11, 2026 | $1.217b |
| Oct 12, 2026 | $1.22b |
| Oct 13, 2026 | $1.229b |
| Oct 14, 2026 | $1.238b |
| Oct 15, 2026 | $1.223b |
| Oct 16, 2026 | $1.124b |
| Oct 17, 2026 | $1.115b |
| Oct 18, 2026 | $1.113b |
| Oct 19, 2026 | $1.11b |
| Oct 20, 2026 | $1.116b |
| Oct 21, 2026 | $1.121b |
| Oct 22, 2026 | $1.121b |
| Oct 23, 2026 | $1.061b |
| Oct 24, 2026 | $1.064b |
| Oct 25, 2026 | $1.068b |
| Oct 26, 2026 | $1.067b |
| Oct 27, 2026 | $1.08b |
| Oct 28, 2026 | $1.058b |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $4.141b |
| Dec 31, 2024 | $4.423b |
| Jan 31, 2025 | $5.458b |
| Feb 28, 2025 | $4.693b |
| Mar 31, 2025 | $3.042b |
| Apr 30, 2025 | $2.932b |
| May 31, 2025 | $4.053b |
| Jun 30, 2025 | $4.912b |
| Jul 31, 2025 | $6.827b |
| Aug 31, 2025 | $10.571b |
| Sep 30, 2025 | $6.606b |
| Oct 31, 2025 | $7.002b |
| Nov 30, 2025 | $3.469b |
| Dec 31, 2025 | $3.741b |
| Jan 31, 2026 | $3.106b |
| Feb 28, 2026 | $2.268b |
| Mar 31, 2026 | $2.081b |
| Apr 30, 2026 | $1.49b |
| May 31, 2026 | $1.459b |
| Jun 30, 2026 | $950.44m |
| Jul 31, 2026 | $1.218b |
| Aug 31, 2026 | $1.184b |
| Sep 30, 2026 | $1.264b |
| Oct 28, 2026 (latest) | $1.058b |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $34.13m |
| Dec 31, 2022 | $15.22m |
| Dec 31, 2023 | $234.01m |
| Dec 31, 2024 | $4.423b |
| Dec 31, 2025 | $3.741b |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $1.74m | $1.62m | $1.3m |
| Dec 2024 | $3m | $2.82m | $2.25m |
| Jan 2025 | $8.83m | $8.63m | $8.63m |
| Feb 2025 | $2.63m | $2.55m | $2.55m |
| Mar 2025 | $1.47m | $1.4m | $1.4m |
| Apr 2025 | $1.57m | $1.53m | $1.53m |
| May 2025 | $4.92m | $4.88m | $4.88m |
| Jun 2025 | $1.52m | $1.49m | $1.49m |
| Jul 2025 | $2.16m | $2.1m | $2.1m |
| Aug 2025 | $4.09m | $3.96m | $3.94m |
| Sep 2025 | $3.5m | $3.28m | $2.57m |
| Oct 2025 | $4.37m | $4.18m | $3.29m |
| Nov 2025 | $3.1m | $3.02m | $2.38m |
| Dec 2025 | $1.39m | $1.36m | $1.04m |
| Jan 2026 | $1.23m | $1.22m | $895,336 |
| Feb 2026 | $980,537 | $966,279 | $723,050 |
| Mar 2026 | $658,686 | $647,268 | $474,897 |
| Apr 2026 | $1.75m | $1.74m | $1.34m |
| May 2026 | $1.16m | $1.14m | $868,257 |
| Jun 2026 | $1.1m | $1.08m | $828,007 |
| Jul 2026 | $629,737 | $620,996 | $463,649 |
| Aug 2026 | $695,385 | $684,695 | $520,083 |
| Sep 2026 | $562,201 | $554,893 | $416,740 |
| Oct 2026 (to date) | $427,437 | $421,507 | $310,036 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/pendle
Frequently asked questions
What is Pendle's TVL?
As of Oct 28, 2026, Pendle has $1.061b in total value locked. TVL has decreased 16.1% over the past 30 days.
What chains does Pendle operate on?
Pendle operates on 14 chains: Ethereum, Monad, X Layer, Arbitrum, and Hyperliquid L1 and 9 others. Ethereum holds the largest share at 73.4%.
How much has Pendle generated in fees and revenue?
Over the past 30 days, Pendle generated $458,558 in fees. Of that, $452,037 was protocol revenue. Based on the trailing year, the annualized rate is $14.76m in fees and $14.51m in revenue.
What is the PENDLE token price and valuation?
PENDLE is currently trading at $1.98. Its circulating market capitalization is $344.9m, ranking it #187. Its fully diluted valuation is $558.35m. Supply currently stands at 173.9m circulating, 281.53m total supply.
How has PENDLE performed recently?
PENDLE is down 7.9% over the past 7 days and down 20.6% over the past 30 days. Its all-time high is $7.50, reached on Apr 11, 2024. The token is currently 73.6% below that level.
Which protocols are included in Pendle?
Pendle is a parent protocol whose tracked products include Pendle V2 and Boros.
How much trading volume does Pendle process?
Pendle processed $903.69m in DEX volume over the past 30 days.