Pendle V2
$1.06B +0.5%24hValue locked
- Value locked
- $1.06B
- 7 days
- −4.5%
- 30 days
- −19.2%
- Fees per day
- $16.44K7-day average
- Fees / value locked
- 0.6%annualised
- Chains
- 13
- PENDLE price
- $2.16+5.2% 24h
- Token market cap
- $374.8M
About Pendle V2
Pendle Finance is a protocol that enables the trading of tokenized future yield on an AMM system.
As of 23 Oct 2026, Pendle V2 holds $1.06B in value locked across 13 chains, which ranks it #18 in DeFi by value locked. Thirty days ago it ranked about #41. 74% of that sits on Ethereum, its largest deployment. Among yield protocols it ranks #2 of 60 with 22.9% of the sector, between Spark Savings ($1.62B) and Convex Finance ($583.9M). Its value locked is down 4.5% over seven days and down 19.2% over 30 days. Users paid an average of $16.44K a day in fees over the last seven days; a year at that pace would equal 0.6% of its value locked, against a sector median of 0.6%. The PENDLE token, shared by the 2 Pendle products we track, is valued at $374.8M, 35% of their combined $1.06B in value locked.
Value locked by chain
Largest yield protocols
Full sector| # | Protocol | Chains | Value locked | 7d | Fees/day |
|---|---|---|---|---|---|
| 1 |  Spark Savings | Ethereum, Arbitrum +6 | $1.62B | −3.1% | – |
| 2 | Pendle V2 | Ethereum, Monad +11 | $1.06B | −4.5% | $16.44K |
| 3 |  Convex Finance | Ethereum, Fraxtal +2 | $583.9M | +2.2% | $60.80K |
| 4 |  Stake DAO Yield | Ethereum, Base +7 | $149.3M | +1.5% | $2.52K |
| 5 |  Avalon Superearn | Ethereum, Move +1 | $142.2M | 0.0% | – |
| 6 |  Lorenzo sUSD1+ | BNB Chain, Ethereum | $79.98M | −0.1% | $2 |
| 7 |  Concentrator | Ethereum | $79.72M | −14.1% | $572 |
| 8 |  Yuzu Money | Plasma, Monad +1 | $77.08M | −3.7% | $18.75K |
