Pendle
Yield trading protocol that splits yield-bearing tokens into principal (PT) and yield (YT) tokens.
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Pendle key facts
| Category | Yield platform |
|---|---|
| Chains | Ethereum, Arbitrum, Base, BNB Chain and other EVM networks |
| Platforms | Web, API |
| Custody | Non-custodial |
| Fees | 5% of yield accrued by YT, plus swap fees |
| Chains | Ethereum, Optimism, BNB Chain, Sonic, HyperEVM, Mantle, Base, Arbitrum, Berachain, Monad and others |
| Token | PENDLE |
What is Pendle?
Pendle is a yield trading protocol that splits yield-bearing tokens into principal tokens (PT), which lock in a fixed yield, and yield tokens (YT), which trade the variable yield. It charges a 5% fee on yield, including points, accrued by YT, plus swap fees. It is deployed on Ethereum, Arbitrum, Base, BNB Chain and other networks.
Pendle usage
From DefiLlama (TVL) (fees users paid), updated Sep 26, 2026.
Pendle pros and cons
- PTs lock a fixed yield until maturity
- Deployed on more than ten EVM networks
- 20% of swap fees go to liquidity providers
- 5% fee on all yield and points accrued by YT
- YT can lose most of its value if yields fall
- PT and YT concepts take time to learn
Pendle FAQ
What is Pendle?
Pendle is a yield trading protocol that splits yield-bearing tokens into principal tokens (PT), which lock in a fixed yield, and yield tokens (YT), which trade the variable yield. It charges a 5% fee on yield, including points, accrued by YT, plus swap fees. It is deployed on Ethereum, Arbitrum, Base, BNB Chain and other networks.
How much value is locked in Pendle?
$1.3B according to DefiLlama on Sep 26, 2026. It is deployed on 14 chains: Ethereum, Monad, Arbitrum, X Layer, Plasma, Hyperliquid L1 and others.
How much does Pendle cost?
5% of yield accrued by YT, plus swap fees, according to Pendle’s own page (checked Sep 26, 2026).
How much do users pay Pendle in fees?
$593,669 over the last 30 days, according to DefiLlama on Sep 26, 2026.
Does Pendle hold my funds?
No. Pendle is non-custodial: you keep your funds in your own wallet and sign each transaction.
Sources
How this page works
Sources: Pendle: official site, Pendle: Docs, Fees, Pendle: Docs, Deployments. Data as of Sep 26, 2026.
Not affiliated with any project listed. Educational content, not financial advice.