About this Chart

Revenue split on two separate axes. Product is the revenue-generating surface — Pendle V2 (AMM swap fees, limit order fees, the YT interest fee, the post-maturity sweep, partner reward fees and the PT Looper service fee), Boros, and sPENDLE Staking (the instant-unstake fee). Source breaks the same total into all 13 individual fee events, each prefixed by its product.

The YT interest fee is charged at 3% or 5% of accrued yield depending on the period, and the wallets that receive it changed at a cutover in October 2024. Two labels are narrower than they look: the post-maturity sweep is the interest fee collected with no user redemption leg rather than every fee dated after expiry, so a late claim on an expired market still sits in the YT interest fee line; and partner rewards are measured on an allocation basis and grossed up by a flat 1.25x from 2025-09-01, which is an assumption rather than an observed per-token split.

Buybacks are a use of revenue rather than a source and are not counted here.