PENDLEPendle Price

On June 16, Pendle was recently selected for Fortune's Crypto Innovators list, standing out from over 150 nominations and joining traditional financial institutions such as State Street Bank, DBS Bank, and SBI Holdings in the top 30. Pendle aims to fill the long-standing gap in the crypto market for on-chain fixed income—previously, on-chain variable yields were ubiquitous, but there was a lack of tools for locking in known interest rates or making duration-based judgments. Currently, the total value locked in the Pendle protocol has reached billions of dollars, with an increasing proportion coming from the stablecoin yield market and institutional allocation funds. Additionally, since the launch of sPENDLE, the Pendle protocol has repurchased a total of 1,722,192 PENDLE tokens from the open market, all of which have been distributed to sPENDLE holders. Year-to-date, sPENDLE holders have received approximately $1.4 million in airdrop rewards. The team stated that 'the work is not yet complete,' and further progress is ongoing.

On April 27, Pendle announced that it has distributed a total of $7.49 million in CHIPS to sPENDLE holders, sourced from protocol fee revenue. This distribution mechanism is based on a time-weighted calculation of users' sPENDLE holdings during the previous period (from April 7 to April 20). This CHIPS distribution is independent of the existing buyback reward mechanism and represents an additional profit distribution. In the future, Pendle will continue to enhance the earnings structure for token holders through multiple methods, including fees and buybacks, to improve the sustainability of the overall incentive system.

On April 27, Pendle announced that it has distributed a total of $7.49 million in CHIPS to sPENDLE holders, sourced from protocol fee revenue. This distribution mechanism is based on the time-weighted calculation of users' sPENDLE holdings during the previous period (from April 7 to April 20). This CHIPS distribution is independent of the existing buyback reward mechanism and constitutes an additional profit distribution. In the future, Pendle will continue to enhance the earnings structure for token holders through multiple methods, including fees and buybacks, to improve the overall sustainability of the protocol's incentive system.