Pendle Ends vePENDLE Lockups, Launches sPENDLE Staking Program

The decentralized finance protocol introduces sPENDLE staking while discontinuing long-term vePENDLE token lockups.

PENDLE

Summary

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Terms & Concepts
  • Staking: The process of locking cryptocurrency in a blockchain protocol to earn rewards or yield.
  • Decentralized Finance (DeFi): A blockchain-based form of finance that removes intermediaries like banks, allowing peer-to-peer transactions and services.
  • vePENDLE: A voting escrow mechanism in the Pendle protocol that required multi-year token lockups to grant governance rights and reward boosts.