Pendle protocol
Overview
Pendle is a decentralized finance protocol that tokenizes and trades future yield. It splits yield-bearing assets into principal and yield tokens, enabling users to sell or leverage their yield exposure. The protocol operates on multiple blockchains including Ethereum.
Within the DeFi Intel graph, Pendle connects to 63 tracked entities, most strongly to Ethereum, Arbitrum, Base.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 9 of 63 total).
| Relation | Connected entity | Confidence |
|---|---|---|
deployed_on | Ethereum | 95% |
deployed_on | Arbitrum | 95% |
deployed_on | Base | 95% |
deployed_on | Optimism | 95% |
deployed_on | BNB Chain | 95% |
deployed_on | Avalanche | 95% |
deployed_on | Mantle | 95% |
lists_market_for | Ethena USDe | 95% |
partnered_with | Ethena | 95% |
In-depth guides on Pendle
- Pendle LP Strategy: PT/YT Rebalancing for Max Yield — DeFi Intel
- Pendle PT/YT Advanced Strategies for Fixed Yield — DeFi Intel
- Pendle Yield Tokenization Explained: PT, YT, EigenLayer Era, LRT Markets, and the RWA Pivot (2026) — DeFi Intel
- Pendle Finance Explained: PT, YT, Yield Tokenization, and PENDLE Token (2026) — DeFi Intel
Frequently asked questions
What is Pendle?
Pendle is a decentralized finance protocol that tokenizes and trades future yield by splitting yield-bearing assets into principal and yield tokens, enabling users to sell or leverage their yield exposure.
What chains does Pendle run on?
Pendle operates on multiple blockchains including Ethereum, Plasma, Arbitrum, Sonic, Hyperliquid L1, Binance, and Base.
What is Pendle connected to?
Pendle is mentioned in relation to DeFi traders stacking risks on top of Strategy’s risky STRC.