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Pendle V2(PENDLE)

Total Value Locked$1.207b

TVL by Chain

Ethereum$761.79m

Arbitrum$172.02m

Monad$143.9m

X Layer$64.86m

Plasma$43.31m

Hyperliquid L1$8.97m

BSC$7.75m

Base$3.4m

Robinhood Chain$697,723

Sonic$501,528

Mantle$111,927

Avalanche$46,124

Berachain$1,909

OP Mainnet$0

Key Metrics

Fees 30d$398,705

Fees 30d by chain

Ethereum$315,608

Arbitrum$28,427

Monad$25,844

Plasma$15,575

Hyperliquid L1$6,046

Base$3,866

Sonic$2,289

Robinhood Chain$388.73

BSC$353.98

X Layer$249.88

Mantle$55.67

Berachain$0.92

OP Mainnet$0

Fees 7d$98,307

Ethereum$79,269

Arbitrum$5,594

Monad$4,702

Plasma$3,003

Hyperliquid L1$2,539

Sonic$2,285

Base$485.41

BSC$171.46

Robinhood Chain$110.25

X Layer$91.82

Mantle$55.14

Berachain$0.37

OP Mainnet$0

Fees 24h$9,411

Ethereum$8,407

Arbitrum$589

Monad$354

Hyperliquid L1$24

Base$16

Plasma$12

BSC$5.59

X Layer$3.09

Robinhood Chain$0.15

Berachain$0

Mantle$0

OP Mainnet$0

Sonic$0

Cumulative Fees$66.93m

Ethereum$54.48m

Arbitrum$5.69m

Plasma$1.89m

Berachain$1.49m

BSC$1.41m

Mantle$844,275

Base$516,125

Hyperliquid L1$327,719

Sonic$149,372

Monad$112,351

OP Mainnet$24,365

Robinhood Chain$388.88

X Layer$315.60

Revenue 30d$391,945

Revenue 30d by chain

Ethereum$310,221

Arbitrum$27,798

Monad$25,342

Plasma$15,525

Hyperliquid L1$5,967

Base$3,783

Sonic$2,289

Robinhood Chain$384.16

BSC$347.57

X Layer$232.61

Mantle$55.67

Berachain$0.92

OP Mainnet$0

Revenue 7d$96,798

Ethereum$78,058

Arbitrum$5,491

Monad$4,542

Plasma$3,000

Hyperliquid L1$2,533

Sonic$2,285

Base$467.25

BSC$169.85

Robinhood Chain$109.67

X Layer$86.99

Mantle$55.14

Berachain$0.37

OP Mainnet$0

Revenue 24h$9,113

Ethereum$8,159

Arbitrum$573

Monad$328

Hyperliquid L1$20

Base$13

Plasma$12

BSC$5.59

X Layer$2.74

Robinhood Chain$0.12

Berachain$0

Mantle$0

OP Mainnet$0

Sonic$0

Cumulative Revenue$64.27m

Ethereum$52.36m

Arbitrum$5.47m

Plasma$1.82m

Berachain$1.48m

BSC$1.36m

Mantle$841,618

Base$445,562

Hyperliquid L1$215,444

Sonic$135,921

Monad$109,346

OP Mainnet$24,240

Robinhood Chain$384.28

X Layer$293.05

Holders Revenue 30d$313,554

Holders Revenue 30d by chain

Ethereum$248,178

Arbitrum$22,240

Monad$20,270

Plasma$12,421

Hyperliquid L1$4,772

Base$3,027

Sonic$1,831

Robinhood Chain$306.36

BSC$277.64

X Layer$185.67

Mantle$44.53

Berachain$0.73

OP Mainnet$0

Holders Revenue 7d$77,434

Ethereum$62,445

Arbitrum$4,392

Monad$3,633

Plasma$2,400

Hyperliquid L1$2,027

Sonic$1,827

Base$374.19

BSC$135.47

Robinhood Chain$86.93

X Layer$69.19

Mantle$44.11

Berachain$0.29

OP Mainnet$0

Holders Revenue 24h$7,290

Ethereum$6,527

Arbitrum$458

Monad$262

Hyperliquid L1$16

Base$11

Plasma$9.54

BSC$4.47

X Layer$2.19

Robinhood Chain$0.10

Berachain$0

Mantle$0

OP Mainnet$0

Sonic$0

Cumulative Holders Revenue$56.62m

Ethereum$46.45m

Arbitrum$4.59m

Berachain$1.47m

Plasma$1.46m

BSC$1.12m

Mantle$702,673

Base$414,608

Hyperliquid L1$172,354

Sonic$130,962

Monad$87,473

OP Mainnet$19,975

Robinhood Chain$306.46

X Layer$234.22

DEX Volume 30d$781.34m

DEX Volume 30d by chain

Ethereum$558.8m

Monad$106.28m

Arbitrum$60.6m

Plasma$24.06m

Hyperliquid L1$22.59m

X Layer$4.04m

Robinhood Chain$3.82m

Base$854,988

BSC$294,524

Berachain$0

Mantle$0

OP Mainnet$0

Sonic$0

DEX Volume 7d$165.65m

Ethereum$116.84m

Monad$39.56m

Arbitrum$6.08m

X Layer$1.85m

Plasma$829,242

Hyperliquid L1$254,163

Robinhood Chain$146,628

BSC$53,014

Base$46,740

Berachain$0

Mantle$0

OP Mainnet$0

Sonic$0

DEX Volume 24h$20.34m

Ethereum$17.75m

Arbitrum$1.85m

Monad$573,918

Hyperliquid L1$76,572

X Layer$61,163

Plasma$17,372

Base$8,963

Robinhood Chain$3,283

Berachain$0

BSC$0

Mantle$0

OP Mainnet$0

Sonic$0

Cumulative DEX Volume$57.713b

Ethereum$52.046b

Arbitrum$3.195b

BSC$1.581b

Monad$307.91m

Mantle$303.09m

Plasma$208.4m

Hyperliquid L1$44.38m

Base$17.21m

X Layer$4.7m

Robinhood Chain$4.12m

OP Mainnet$158,370

Berachain$0

Sonic$0

Staked$199.95m

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.

Website X/Twitter

Category:Yield

Audits:

Methodology

TVL: V1 TVL counts the collateral backing the yield tokens and USDC in the pendle markets, plus staked OT liquidity, and SLP/JLP staked in masterchef. Staking TVL is just staked PENDLE on 0x07282F2CEEbD7a65451Fcd268b364300D9e6D7f5. Pool2 refers to the Pe,P pool on mainnet, and Pa,P pool on avax.Fees: Total yield from deposited assets + trading fees paid by yield traders.Revenue: Sum of 5% fee from all yield + points accrued and 80% trading fees.Holders Revenue: 80% revenue distributed to sPENDLE holders (100% before September 2025).DEX Volume: Value traded in Pendle's pools plus limit orders filled on Pendle's order book, counted once per trade on the yield-bearing token side. A YT trade counts the size of the position it opens, not the smaller amount the trader pays for it. Minting and redeeming PT/YT is not a trade and is excluded.

Yields

Pools Tracked150

Average Supply APY9.8%

User Activity

Active Addresses (24h)383

New Addresses (24h)24

Transactions (24h)682

Gas Used (24h)0.25 ETH

Gas Cost (24h)$642

Competitors

Equilibria ($12.36m)Napier ($107,294)Spectra V2 ($22.69m)Penpie ($5.35m)Saffron Vaults ($2.64m)Spark Savings ($1.493b)Stake DAO Yield ($148.11m)AUTOfinance ($39.71m)WOOFi Earn ($4.01m)TermFinance Vaults ($1.64m)

Income Statement for Pendle V2

YearlyQuarterlyMonthlyCumulative

	Q4 2026*	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023
Gross Protocol Revenue	$116.21K	$1.78M	$3.85M	$2.65M	$8.65M	$9.66M	$8.01M	$12.93M	$5.96M	$3.12M	$8.48M	$1.54M	$109.88K	$81.17K
YT And Swap Fees	$114.13K	$1.75M	$3.8M	$2.62M	$8.34M	$9.25M	$7.89M	$12.58M	$0	$0	$0	$0	$0	$0
AMM Swap Fees To LPs	$2.08K	$26.5K	$45.59K	$32.59K	$261.95K	$407.74K	$118.65K	$355.82K	$0	$0	$0	$0	$0	$0
Cost of Revenue	$2.08K	$26.5K	$45.59K	$32.59K	$265.63K	$407.74K	$118.65K	$355.82K	$367.2K	$107.23K	$674.67K	$240.61K	$57.15K	$0
AMM Swap Fees To LPs	$2.08K	$26.5K	$45.59K	$32.59K	$261.95K	$407.74K	$118.65K	$355.82K	$0	$0	$0	$0	$0	$0
Gross Profit	$114.13K	$1.75M	$3.8M	$2.62M	$8.38M	$9.25M	$7.89M	$12.58M	$5.6M	$3.01M	$7.81M	$1.3M	$105.92K	$61.13K
YT And Swap Fees	$114.13K	$1.75M	$2.21M	$2.1M	$5.26M	$7.89M	$4.97M	$5.18M	$0	$0	$0	$0	$0	$0
Other Fees	$0	$0	$1.6M	$515.41K	$3.09M	$1.36M	$2.93M	$7.4M	$0	$0	$0	$0	$0	$0
Earnings	$114.13K	$1.75M	$3.8M	$2.62M	$8.38M	$9.25M	$7.89M	$12.58M	$5.6M	$3.01M	$7.81M	$1.3M	$105.92K	$61.13K
Token Holder Net Income	$91.3K	$1.4M	$3.04M	$2.09M	$6.7M	$8.61M	$7.89M	$12.58M	$4.48M	$2.41M	$6.25M	$1.04M	$41.65K	$0
sPENDLE Distributions	$91.3K	$1.4M	$3.04M	$2.09M	$6.67M	$8.61M	$7.89M	$12.58M	$0	$0	$0	$0	$0	$0

Income Flow Visualization

YearlyQuarterlyMonthlyCumulative

Frequently Asked Questions

What is Pendle V2's TVL?

Pendle V2 currently has $1.207b in total value locked. TVL has decreased 2.8% over the past 30 days.

What chains does Pendle V2 operate on?

Pendle V2 operates on 14 chains: Ethereum, Arbitrum, Monad, X Layer, and Plasma and 9 others. Ethereum holds the largest share at 63.1%.

How much has Pendle V2 generated in fees and revenue?

Over the past 30 days, Pendle V2 generated $398,705 in fees. Of that, $391,945 was protocol revenue. Based on the trailing year, the annualized rate is $16.32m in fees and $16.03m in revenue.

How does Pendle V2's TVL compare to similar protocols?

Among Yield protocols tracked by DefiLlama, Pendle V2 ranks #2 by TVL. The category holds $4.753b across 574 protocols, and Pendle V2 accounts for 25.4% of that total. Other leading protocols include Equilibria, Napier, Spectra V2, Penpie, Saffron Vaults, Spark Savings, Stake DAO Yield, AUTOfinance, WOOFi Earn, and TermFinance Vaults.

How much trading volume does Pendle V2 process?

Pendle V2 processed $781.34m in DEX volume over the past 30 days.