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Pendle

PENDLE
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Pendle Tokenomics Overview

Full Pendle tokenomics breakdown: PENDLE token allocation, vesting schedule, supply distribution, unlock dates, and investor terms.

Produced by Tokenomics.com in collaboration with BlackTokenomics.
TGE DateApril 27, 2021
Total Supply281,527,448
CategoryDeFi
Transparency
LOWHIGH
PENDLE Allocation Distribution
Shows how the tokens are split across all allocation pools.
Pool Name
Allocation %
Release Progress
Locked $
Next Unlock
Liquidity Incentives
50.5%
81.15%
$32.0M12 Days
Team
17.3%
100.00%
$0.0Finished
Private Round
11.8%
100.00%
$0.0Finished
Ecosystem Fund (Unallocated)
7.1%Undisclosed$21.0MUndisclosed
Ecosystem Fund (Allocated)
7.1%
100.00%
$0.0Finished
Liquidity Bootstrapping Pool
5.5%
100.00%
$0.0Finished
Advisors
0.8%
100.00%
$0.0Finished
PENDLE Vesting Release Schedule
Full token vesting release schedule over time, broken down by allocation pool. Undisclosed allocations are shown as a faint max-immediate-unlock overlay.

Investor Rounds & Terms

Comprehensive breakdown of all investment rounds, pricing terms, and vesting schedules

Round
Allocation
Entry Price
Entry FDV
Raised
Vesting Terms
Private Round
11.8%$0.098$27.6M$3.7M3 Month Cliff, Linear Vesting Every 3 Months x4
Liquidity Bootstrapping Pool
5.5%$0.80$224.4M$14.0M100.0% at TGE

PENDLE Tokenomics FAQ

Key questions and answers about Pendle tokenomics. Last updated 04/02/26, 8:01 AM

What is the utility of the PENDLE token?

Pendle has 3 primary token utilities:

  • Staking Rewards: sPENDLE stakers earn protocol revenue distributed as PENDLE buybacks every two Fridays, with up to 80% of protocol revenue directed toward purchasing PENDLE tokens on the open market for distribution to stakers.
  • Staking Access: Staking PENDLE into sPENDLE is required to access protocol revenue sharing and governance voting rights on Pendle Protocol Proposals; simply holding PENDLE without staking does not grant these benefits.
  • Standard 1:1: Under the new sPENDLE model, 1 staked PENDLE = 1 sPENDLE with equal voting power on Pendle Protocol Proposals (PPPs), with no duration-based multiplier for new stakers and a simplified vote-when-needed structure.

What is the token allocation for PENDLE?

Pendle token distribution allocates 281,527,448 PENDLE across 4 primary stakeholder groups:

  • Foundation: 64.63% (Liquidity Incentives 50.47%, Ecosystem Fund (Unallocated) 7.08%, Ecosystem Fund (Allocated) 7.08%)
  • Insiders: 18.09% (Team 17.30%, Advisors 0.79%)
  • Investors: 11.79% (Private Round 11.79%)
  • Public Sale: 5.50% (Liquidity Bootstrapping Pool 5.50%)

What is the vesting schedule for PENDLE?

PENDLE uses variable cliffs and vesting schedules that change depending on the allocation:

  • Liquidity Incentives: 1.2M/Week for 26 Weeks, 1.1% Weekly Decay to Week 260, Then 2% Annual Inflation
  • Team: 12 Month Cliff, Linear Vesting Every 3 Months x4
  • Private Round: 3 Month Cliff, Linear Vesting Every 3 Months x4
  • Ecosystem Fund (Unallocated): No information
  • Ecosystem Fund (Allocated): 50.0% at TGE , 12 Month Cliff, 1 Month Linear Vesting
  • Liquidity Bootstrapping Pool: 100.0% at TGE
  • Advisors: 3 Month Cliff, Linear Vesting Every 3 Months x4

How many PENDLE tokens unlock at TGE?

9% of the total supply (28,870,872.443 PENDLE) is unlocked at TGE, with the tokens split between Public Sale and Foundation.

What is the total supply and circulating supply of PENDLE?

Pendle has a total supply of 319,368,058 PENDLE, of which 266,284,216 PENDLE (83.4% of total) is currently circulating.

What is the token emission schedule for PENDLE?

Total length of the full Pendle emission schedule is 11 years, with 35.54% released in Year 1, while the remaining 57.35% is released over the following 10 years.

What are the investor terms for PENDLE private and seed rounds?

Pendle has 2 investor rounds, with the following investment price and vesting:

  • Private Round: priced at $0.0982, with 3 Month Cliff, Linear Vesting Every 3 Months x4
  • Liquidity Bootstrapping Pool: priced at $0.7971, with 100.00% at TGE, 100.0% at TGE

What is Pendle (PENDLE)?

Pendle brings revolutionized yield trading with a robust tokenomics framework, establishing itself as a standout player in DeFi. The platform allows users to tokenize yield-bearing assets and split them into separate principal and yield components, granting enhanced control and flexibility over earnings. With features such as concentrated liquidity, fixed yield options, and minimal impermanent loss, Pendle ensures efficiency and sustainability for all users. The $PENDLE token plays a central role in the ecosystem by enabling governance, incentives, and participation. Users can lock their $PENDLE tokens for exclusive protocol rewards, aligning incentives for long-term holders while fortifying the ecosystem’s growth. Pendle also operates on a dual fee structure, ensuring fair distribution of revenue between liquidity providers and token stakers. Security and trust are cornerstones for Pendle, as evidenced by multiple smart contract audits and partnerships with various leading DeFi projects. Trusted by users and developers alike, the platform empowers decentralized finance enthusiasts to explore flexible yield optimization strategies without the burden of high risks or complex mechanics. Whether you're interested in fixed-income returns, yield trading, or protocol staking, Pendle offers an intuitive gateway to DeFi yield opportunities. With its negligible impermanent loss concerns, cutting-edge liquidity model, and tokenomics designed for growth and stability, Pendle ushers in a new era of yield control and innovation. Explore Pendle today and harness the full potential of DeFi yields!

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