Pendle Co-founder: Pendle's TVL hit a new high of $7 billion after over $1.5 billion in locked assets expired. The increased TVL
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最新报道：According to Bijie.com, on August 4th, Pendle co-founder TN announced on social media that last week Pendle experienced one of its largest expiration events to date, with over $1.5 billion in total value locked (TVL) expiring. However, Pendle Finance's TVL still climbed to a new all-time high. Notably, $1.3 billion (87%) of the expiration TVL came from Ethena Labs assets. Following the recent market decline over the weekend, Pendle and Ethena were the only top-ten protocols to achieve positive seven-day TVL growth. As of now, Pendle holds and contributes approximately 48% of Ethena's TVL. Even at this scale, the peak-to-trough TVL drawdown was minimal and lasted only one day—a mere $189 million (-2.8%) drop from $6.827 billion to $6.638 billion. Furthermore, vePENDLE's fee revenue surged 80% month-over-month to $2.85 million in July 2025. Even excluding airdrops, July fee revenue remained healthy at $2.28 million. TVL retention has significantly strengthened over the past year, even with larger and more frequent maturities. This shift reflects growing market trust in Pendle's assets and the ascendance of Pendle PT (the principal token) as the preferred yield vehicle in DeFi. A key driver behind this trend is the growing synergy between Pendle, Ethena Labs, and Aave, a flywheel effect that is unlocking new levels of yield utility for Pendle PT.
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