Pendle’s sPENDLE upgrade introduces transferable staking with protocol income rewards, algorithmic emissions voting, and a 14-day exit period, while granting boosted stakes based on January 29 snapshot locks.
Pendle announced it will fully replace vePENDLE with sPENDLE as its main governance token, introducing transferable and composable staking with a 14-day exit period. Protocol income will be used to buy back PENDLE tokens and reward active sPENDLE holders. Emissions voting will be shifted to an algorithmic model, reducing emissions by 30%. A snapshot on January 29 will provide up to a 4x virtual sPENDLE boost based on existing lock durations.