About this Chart

Both cuts stack to the same total. Chain shows where tokens are resident, with Ethereum derived as global supply net of every bridged chain's balance so bridge mints are never counted twice. Circulating splits the total into free float versus locked or protocol-controlled, where sPENDLE counts as circulating because it redeems 1:1 after a cooldown while vePENDLE escrows for up to two years with no early exit. The ecosystem fund and team multisig addresses were supplied directly and are not independently verified onchain.