Pendle Price

What Is Pendle?

Pendle is a DeFi yield trading protocol built on the Ethereum blockchain that allows yield-generating asset holders to secure future yield in advance through automated yield farming strategies. It provides an accessible, secure and user-friendly platform for users to take advantage of high-yield returns with minimal effort.

Pendle separates an underlying yield-generating token into two components: a Principal Token (PT) and a future Yield Token (YT). YT embodies the potential earnings of the underlying asset, allowing users to sell it for instant income or acquire it for pure yield exposure.

Pendle (PENDLE) Price

PENDLE launched on Apr 28, 2021 at $1.80. Its price fluctuated for a few days before reaching its high of $2.45 on May 5, 2021. PENDLE’s price then sank to a low of $0.53 on May 24 before it promptly rebounded to $1.27 the next day. Its price continued to fluctuate wildly over the next few weeks, remaining between $0.60 and $1.14. In July 2021, PENDLE began to gradually decline to a low of $0.31 before recovering to a high of $1.27 on Aug 24. This was then followed by another decline to $0.43. October 2021 was the last time PENDLE’s price came close to the $1 mark, declining further from November due to the bear market at that time.

PENDLE rallied to a low high of $0.60 on Jan 6, 2022, but it couldn’t maintain it and quickly fell once again. Its decline was further exacerbated by the Terra LUNA crash in May. The token eventually found support at the $0.04 mark by June 2022, and its price remained relatively constant with no huge spikes for the rest of the year. However, in the middle of January 2023, PENDLE started to show signs of recovery as it increased in value from $0.04 to $0.09 by mid-January. It doubled its price to $0.18 on Feb 20 and, despite a slight dip in price, PENDLE has continued to rally to $0.33, its highest price in months, by mid-March 2023.

What Is PENDLE Used For?

PENDLE is the main platform token of the Pendle Finance ecosystem. Users who choose to stake their PENDLE tokens receive vote-escrowed PENDLE, or vePENDLE, in exchange. These vePENDLE tokens allow users to access new features, such as earning rewards and participating in governance.

Pendle (PENDLE) Tokenomics

PENDLE has a total and max supply of 231,725,335 tokens, with a circulating supply of close to 97 million and a 24-hour trading volume of slightly more than $1 million.

The tokens are distributed as follows:

• Circulating: 65.1%
• Ecosystem Fund: 19.2%
• Incentives: 10%
• Team (Vested): 5.7%

Until April 2023, team tokens will gradually become available, and after that, the circulating supply will be boosted by incentives and ecosystem growth. As of October 2022, weekly emissions are at 667,705. However, the emissions will decrease by 1.1% every week until April 2026. Then, a sustainable 2%-per-annum inflation rate will kick in, dedicated to incentives. As the ecosystem evolves, users can participate in governance to propose possible changes and align with the best practices in the industry.

Who Is the Founder of Pendle (PENDLE)?

Pendle was founded by a group of anonymous individuals who go by the pseudonyms TN Lee, GT, YK and Vu.

Read more: Pendle (PENDLE): Unlocking the Full Potential of the Yield Market

How to Store PENDLE

You can store PENDLE tokens in Trust Wallet, with more options being made available soon.