Pendle
Onchain metrics, activity and charts for Pendle.
Pendle: Markets TVL
Total value locked in Pendle V2 markets, by chain, category and asset
Pendle
Pendle lets users tokenize yield-bearing assets into tradable Principal Tokens (PT) and Yield Tokens (YT) via an AMM + limit order book. Each market has a fixed maturity (typically 3-12 months): PT redeems 1:1 for the underlying at expiry, while YT streams the variable yield until then and decays to zero.
Use Cases
- Speculate on yield: Long YT for leveraged exposure to an asset's variable yield and rewards. Holding YT entitles the user to the yield and points accrued behind the token until maturity.
- Lock in fixed yield: Hold PT to lock a fixed APY, paid out as the token appreciates to par at maturity.
- Supply liquidity: LP the PT-SY pool to earn swap fees plus underlying yield, with minimal impermanent loss.
Pendle earns fees from YT yield, AMM/limit-order swaps, post-maturity capture, and sPENDLE instant-unstake, 80% of which fund PENDLE buybacks for sPENDLE stakers.
Pendle: Token Supply
USD value of outstanding Pendle SY, PT and LP tokens
Pendle: PT Supply
USD value of outstanding principal tokens, by chain, category, asset and maturity
Pendle: Top Markets
Top 25 unexpired Pendle markets ranked by market size
Pendle: Net Market Flow
Net USD SY flow, mints less redeems, by chain, category and asset
Pendle: Gross Market Flow
USD value of SY minted and redeemed, with net
Pendle: PT Implied APY by Market
Implied fixed APY for each PT market
Pendle: PT Yield Premium
Median per-market spread of implied APY over underlying APY, by chain, category and asset
Pendle: Average LP APY
Equal-weighted average LP APY across Pendle markets, by chain, with all chains as a reference line
Pendle: AMM Unique Traders
Unique wallets receiving a Pendle AMM swap, by chain, category and asset
Pendle Liquidity Engine: AMM & Limit Orders
Pendle: Swap Volume
USD swap volume across all Pendle venues, by direction, venue, chain, category, asset and maturity
Pendle: Swap Fees
USD swap fees paid by traders, by direction, venue, chain, category and asset
Pendle: PT vs YT Swap Volume
USD swap volume split into PT and YT legs across the AMM and limit order book
Pendle: Swap Volume by Trade Size
USD swap volume by trade size bucket, split by venue and by PT or YT leg
Pendle: AMM Pool TVL
USD value of PT and SY held inside Pendle AMM pools, by chain, category and asset
Pendle: AMM Swap Volume
USD swap volume on the Pendle AMM, by direction, chain, category and asset
Pendle: AMM Liquidity Flows
USD liquidity added to and removed from Pendle AMM pools, with net, by chain, category and asset
Pendle: Unique Holders
Unique wallets holding Pendle PT, YT or LP tokens, by chain, category and asset