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Pendle Team Moves $3.83 Million in Tokens to Bybit Exchange

Around 1.8 million PENDLE were transferred after vesting, marking a large shift of previously locked assets into circulation.

PENDLE

Summary

A Pendle team-associated address transferred 1.8 million PENDLE, valued at $3.83 million, to Bybit. These tokens were unlocked from Pendle’s vesting contract between April 2022 and April 2023, when they were worth about $266,000.

Terms & Concepts
  • Vesting Contract: A blockchain-based agreement controlling token release schedules for team or investor allocations.
  • PENDLE: The native token of Pendle, a decentralized finance platform enabling yield trading and tokenized yield strategies.
  • Bybit: A cryptocurrency exchange offering derivatives and spot trading services to global users.