The DeFi yield protocol said staking reached 36% of total supply within six and a half months, alongside $5.12 million in cumulative rewards and a record low in new issuance.
Pendle said cumulative buybacks of its PENDLE token have surpassed $3 million, adding that staking (locking tokens to earn rewards) has drawn more than 100 million PENDLE within six and a half months of launch. The DeFi (blockchain-based finance) yield protocol said that total equals 36% of supply. It also said stakers have received a cumulative $5.12 million in rewards and airdrops, while new PENDLE issuance has kept falling and reached a record low. The update points to a tightening token supply profile as more tokens are locked and fewer new ones enter circulation.