Pendle
Pendle splits yield-bearing assets into principal tokens and yield tokens, so users can lock in a fixed rate or trade their view on future yields.
Pendle TVL
Assets deposited in Pendle across 11 chains, in US dollars.
Supported chains
Deployed on 11 chains. Ethereum holds 58.6% of deposits.
Fees & revenue
Monthly fees paid by users and the share Pendle keeps as revenue. The current month is to date.
About Pendle
What it does, how it earns and what the PENDLE token is for.
Pendle is a protocol for tokenizing and trading future yield from crypto assets. It is a decentralized finance protocol in the yield strategies category, and people use it to buy and sell yield at current rates, lock in a fixed return, or take a leveraged position on yield.
The protocol runs an automated market maker, a system that prices assets through pooled liquidity, built to support assets whose value decays over time. PENDLE is its governance token, which holders use to vote on the protocol's direction. Pendle says its platform offers no lockups and no liquidation risk.
Pendle FAQ
Short answers to what people ask most.
Pendle takes deposits on more than 10 chains, with the most on Ethereum, as of 2026.
In 2026, part of the fees users pay is kept by the protocol as revenue.
As of 2026, the yields Pendle covers include staked ETH and stablecoins.
Pendle news
Coverage of the protocol, its category and its chain.
Similar protocols
Other yield protocols, ranked by value locked.
