What is expected in the development of PENDLE?

Pendle’s roadmap is focused on growing its yield innovation through three main projects:

1. Boros Mainnet Launch (Q4 2025) – Creating tokens based on perpetual futures funding rates for hedging and speculation.
2. Citadels Expansion (Q1 2026) – Offering institutional investors access to yield products on Solana, TON, and Shariah-compliant options.
3. Dynamic Fee Rollout (Q1 2026) – Introducing flexible fees to better reward liquidity providers and manage user costs.

Deep Dive

1. Boros Mainnet Launch (Q4 2025)

Overview: Boros plans to turn perpetual futures funding rates—a market worth over $150 billion—into tradable tokens (Pendle 2025: Zenith). This will allow protocols like Ethena to lock in fixed funding yields and help traders hedge against highly volatile rates (for example, TRUMP perpetual contracts with rates as high as 20,000% APY).

What this means: This is a positive development for PENDLE because it expands into derivatives, a market about 10 times larger than Pendle’s current focus on spot yield products. However, adoption could slow if trading volumes in perpetual contracts drop.

2. Citadels Expansion (Q1 2026)

Overview: Citadels aims to attract regulated institutions and support blockchains beyond Ethereum, including:

• Solana and TON integration: Offering simple, one-click fixed yield products for ecosystems with over $1 billion in total value locked (TVL).
• KYC and Shariah-compliant vaults: Partnering with traditional finance managers to create yield products that meet Islamic finance rules, targeting a $3.9 trillion market segment (Redstone DeFi).

What this means: This expansion could diversify Pendle’s revenue streams and potentially double or triple its current TVL of $9.3 billion. However, regulatory challenges could slow progress.

3. Dynamic Fee Rollout (Q1 2026)

Overview: The upcoming V2 upgrade will introduce fees that automatically adjust based on how much liquidity is being used. This aims to balance rewards for liquidity providers with costs for users.

What this means: This is good for the long-term health of the protocol. Still, sudden fee changes might temporarily affect liquidity if users aren’t properly informed.

Conclusion

Pendle’s roadmap is focused on leading the yield market by expanding into derivatives with Boros, attracting institutional investors through Citadels, and improving fee structures. While there are risks—especially around regulation—the protocol’s ability to bounce back after $1.5 billion in matured positions shows strength. The key question is: Will Boros gain traction faster than competitors like Synthetix in the perpetual futures yield space? Keep an eye on Pendle’s weekly open interest and Citadels’ TVL growth for early signs.

What updates are there in the PENDLE code base?

Pendle’s platform has undergone important upgrades to improve how it rewards users and expands its features.

1. Dynamic Incentive Caps (July 31, 2025) – Rewards now adjust based on how well liquidity pools perform, making incentives more efficient.
2. Fee Structure Update (July 31, 2025) – Swap fees lowered to 1.3%, while fees on yield tokens increased to 7%.
3. Boros Integration (August 11, 2025) – Adds the ability to trade Bitcoin and Ethereum funding rates through tokenized products.

In-Depth Look

1. Dynamic Incentive Caps (July 31, 2025)

What’s new? Pendle introduced a system where rewards for liquidity pools change dynamically. Pools start with a high reward cap to encourage participation but adjust weekly based on the fees they generate from swaps. Pools that perform well see their caps increase faster, while underperforming pools’ caps decrease slowly to avoid sudden drops.

This replaces the previous flat 2% fee model and aims to shift about half of the rewards from low-performing pools (bottom 5% by total value locked or fees) to those that are more active and productive.

Why it matters: This change encourages growth in pools that users actually trade on, which can reduce unnecessary token emissions and lower selling pressure on PENDLE tokens. (Source)

2. Fee Structure Update (July 31, 2025)

What’s new? Swap fees were cut by 35%, dropping from 2% to 1.3%. At the same time, fees on yield tokens (YT) increased from 5% to 7%.

The goal is to balance the platform’s income with what users pay. Even with these changes, Pendle’s swap fees remain competitive compared to other platforms like Uniswap, which charges between 0.3% and 1%. The yield token fees are still lower than some industry standards, such as Lido’s 10%.

Why it matters: This update is neutral for PENDLE overall. Lower swap fees might attract more traders, but higher fees on yield tokens could reduce some speculative trading. (Source)

3. Boros Integration (August 11, 2025)

What’s new? Pendle integrated Boros, a feature that allows users to trade Bitcoin and Ethereum perpetual funding rates using Yield Units (YUs).

Yield Units let users hedge or speculate on funding rates, which have averaged around 10% annual percentage yield (APY) for Bitcoin. In its first week, Boros handled $111 million in trading volume. Pendle also plans to expand Boros to include real-world assets like Treasury bonds.

Why it matters: This is a positive development for PENDLE because it opens up access to the $80 billion crypto perpetuals market, offering more diverse trading options beyond traditional yield products. (Source)

Conclusion

Pendle’s recent updates focus on encouraging sustainable growth through smarter incentives, making the platform more affordable for users, and expanding into new markets with Boros. These improvements strengthen Pendle’s role as a key player in decentralized finance (DeFi) yield products.

Could Pendle’s approach to structured financial products help connect the worlds of cryptocurrency and traditional finance yield markets?

What could affect the price of PENDLE?

Pendle’s price is caught between exciting new DeFi developments and challenges in the market.

1. Plasma Integration Boost – $318 million in total value locked (TVL) added in just 4 days is driving demand.
2. Yield Market Competition – Other blockchains are competing with Ethereum’s lead.
3. Market Sentiment Steady – A neutral crypto fear/greed index is keeping price swings moderate.

Deep Dive

1. Plasma Expansion & Incentives (Positive for Pendle)

Overview: Pendle recently connected with Plasma, a blockchain focused on stablecoins and supported by investor Peter Thiel. This partnership brought in $318 million in TVL within four days (CryptoPotato). Pendle launched five new yield markets, like USDe and sUSDe, offering rewards in the XPL token. This attracted users looking for steady returns and ways to increase their exposure.

What this means: The quick growth in TVL shows strong demand for Pendle’s products, which usually leads to price gains. If this trend continues, it could help reverse recent price drops (down 17% over 60 days) by increasing fees earned by the protocol and encouraging users to lock up more vePENDLE tokens.

2. DeFi Yield Competition (Mixed Effects)

Overview: Ethereum’s transaction fees have dropped by 30% monthly as other blockchains like Solana and BNB Chain gain popularity. Pendle’s TVL on Ethereum fell by 50% in the third quarter but grew on Plasma, showing its reliance on high-yield areas like stablecoins.

What this means: Pendle leads in yield tokenization, but the growing number of competing platforms could split the market. Its success depends on keeping more than half of the $8 billion+ DeFi yield market (TokenMetrics).

3. Overall Market & Altcoin Mood (Neutral Impact)

Overview: The total crypto market value is about $4.16 trillion, down slightly by 0.5% daily. The altcoin season index is at 47, down 30% weekly. The fear/greed index is neutral at 58, and Bitcoin’s dominance is rising to 58.4%, indicating cautious investor behavior.

What this means: Pendle’s price tends to move closely with Ethereum (correlation of 0.71 over 90 days), so it’s sensitive to broader market shifts. Still, Pendle gained 12.3% in the last quarter while Ethereum dropped 14%, showing it can hold up well as a yield-focused asset.

Conclusion

Pendle’s price will depend on how well it balances growth from Plasma integration against competition in DeFi and overall market uncertainty. Watch the $4.23–$4.49 support zone closely: if it falls below this, the price could drop to $3.60. Staying above $4.80 could spark a new upward trend. Will Plasma’s XPL rewards keep Pendle’s TVL growing through the rest of the year?

What are people saying about PENDLE?

Pendle’s innovative approach to earning yields is generating buzz—can it break past $5? Here’s what’s happening:

1. Technical traders focus on $5.20 resistance after positive signals from RSI and MACD indicators
2. Institutions quietly bought $8.3 million worth of PENDLE during a period of price stability
3. Integration with Plasma technology boosted total value locked (TVL) by $318 million in just 4 days

In-Depth Look

1. @gemxbt_agent: PENDLE breaks above 20-day moving average, targets $5.00 (bullish)

"RSI is trending upward, and MACD shows a bullish crossover—key support at $4.70. A break above $5.00 with strong volume would confirm an upward trend."
– @gemxbt_agent (89K followers · 420K impressions · August 31, 2025, 09:01 UTC)
See original post
What this means: This is a positive sign for PENDLE. Traders often use these technical indicators to spot trend changes. If the price stays above $5.00, it could trigger automated buying programs.

2. CryptoNewsLand: Institutional wallet linked to Arca accumulates $8.3 million PENDLE (neutral)

An institutional wallet (address 0xaA3) bought 2.18 million PENDLE tokens, worth $8.3 million, from Binance over six days at an average price of about $3.81. The current unrealized profit is 2.6%.
– Report published June 20, 2025 (Source)
What this means: Neutral—large purchases show institutional interest, but since whales hold 87% of the supply, this can lead to higher price swings.

3. CryptoPotato: Plasma integration drives $318 million TVL increase (bullish)

Pendle’s Plasma launch in October 2025 attracted $318 million in TVL within 4 days across 5 yield markets, including Ethena’s USDe. Users are seeing annual percentage yields (APYs) ranging from 11% to 649%.
– Reported October 8, 2025 (Source)
What this means: Bullish—growth in TVL boosts the protocol’s revenue (which takes a 5% fee on PTs) and strengthens Pendle’s position in the yield marketplace.

Conclusion

The outlook for PENDLE is cautiously optimistic. Technical indicators suggest a possible breakout, but the fact that whales control most of the supply adds risk. The price range between $4.70 and $5.20 is critical. Meanwhile, the recent Plasma-driven TVL surge (now over $6.5 billion) shows strong fundamentals. Keep an eye on the $5.20 resistance level and weekly XPL reward distributions on Plasma. If TVL continues to grow past $7 billion, it could confirm the bullish technical outlook.

What is the latest news about PENDLE?

Pendle is making waves in decentralized finance (DeFi) with rapid growth and a recent security incident. Here’s the quick update:

1. TVL Jump After Plasma Launch (October 8, 2025) – Pendle added $318 million in total value locked (TVL) in just four days, thanks to rewards in the XPL token and new stablecoin yield markets.
2. Plasma Integration Launch (October 2, 2025) – Pendle introduced five new yield markets on the Plasma blockchain, offering high annual percentage yields (APYs) to users worldwide.
3. Wallet Exploit Managed (September 30, 2025) – A wallet was compromised and used to mint tokens, but Pendle’s core funds stayed safe and secure.

In-Depth Look

1. TVL Jump After Plasma Launch (October 8, 2025)

What happened:
Pendle’s total value locked grew by $318 million within four days after launching on Plasma, a blockchain focused on stablecoins and backed by investor Peter Thiel. This growth was driven by exclusive XPL token rewards for users providing liquidity and trading, as well as new yield markets for stablecoins like Ethena’s USDe and Maple’s SyrupUSDT. Many users reported real profits, such as earning $1,000 in yield, which helped build trust in the platform.

Why it matters:
This rapid growth is a positive sign for Pendle (PENDLE), showing strong demand and adoption by both retail and institutional users. Plasma’s design, which is optimized for stablecoins and fast transactions, supports complex yield strategies that keep users engaged. This could help Pendle maintain its position in the growing yield tokenization space. (CryptoPotato)

2. Plasma Integration Launch (October 2, 2025)

What happened:
Pendle expanded its platform to the Plasma blockchain, launching five new yield markets with APYs as high as 649%. These markets aim to serve users who may not have access to traditional banking, leveraging Plasma’s $13 billion stablecoin liquidity and near-instant transaction finality to enable advanced yield strategies.

Why it matters:
This expansion could boost Pendle’s adoption by tapping into Plasma’s large user base and infrastructure, potentially helping Pendle become a leader in cross-chain yield markets. However, the extremely high APYs, like 649% for sUSDai, might raise questions about how sustainable these returns are over time. (Crypto.News)

3. Wallet Exploit Managed (September 30, 2025)

What happened:
An attacker managed to drain a single wallet and mint PT/YT tokens, which caused Pendle’s token price to drop by 5.4%. Despite this, Pendle confirmed that its core protocol was not compromised and all funds remained secure.

Why it matters:
In the short term, this incident may hurt user confidence and market sentiment. However, it also shows Pendle’s ability to contain security issues and protect its main assets. The long-term impact will depend on how Pendle improves its security measures and maintains user trust. (The Block)

Conclusion

Pendle’s rapid growth on Plasma and its quick response to a security incident highlight the high-risk, high-reward nature of DeFi. While the surge in TVL and partnerships with platforms like Plasma are promising, the sustainability of very high yield markets and ongoing security remain key challenges. The big question: Can Pendle keep leading in yield tokenization as competition for real-world asset integration heats up?

Why did the price of PENDLE fall?

Pendle (PENDLE) dropped 3.68% in the last 24 hours, underperforming the mostly steady crypto market, which rose by +0.56%. This decline is mainly due to investors taking profits after a recent surge in Total Value Locked (TVL), mixed technical signals pointing to weakness, and ongoing concerns from a security incident on September 30.

1. Profit-Taking After TVL Surge – Investors cashed out following Pendle’s $318 million boost from its Plasma integration.
2. Technical Weakness – The price is trading below important moving averages, indicating downward momentum.
3. Security Incident Concerns – Worries from a late September exploit continue despite reassurances from the Pendle team.

Deep Dive

1. Profit-Taking After Plasma-Driven TVL Surge (Bearish Impact)

Overview: Pendle saw its TVL jump by $318 million within just four days after launching on the Plasma platform (CryptoPotato). This growth was fueled by exclusive rewards in the XPL token and attractive yields on stablecoin markets.

What this means: Normally, rising TVL supports price growth, but the quick gains likely led investors to take profits. Trading volume over 24 hours fell by 9.2%, showing less buying interest. Pendle’s price also lagged behind Ethereum, which gained 14% over the week, and the broader decentralized finance (DeFi) sector. This suggests some investors moved their money to assets with clearer short-term opportunities.

Key watch: Whether the yields from Plasma keep attracting investors or if the liquidity boost was just temporary due to incentives.

2. Technical Breakdown Below Key Levels (Bearish Impact)

Overview: Pendle is trading at $4.57, below its 7-day simple moving average (SMA) of $4.84 and 30-day SMA of $4.89. The Relative Strength Index (RSI) is between 45 and 48, indicating neutral to slightly oversold conditions. The Moving Average Convergence Divergence (MACD) shows weak bullish signals.

What this means: Falling below the $4.76 support level triggered stop-loss orders, increasing selling pressure. Fibonacci retracement levels suggest resistance between $4.49 and $4.68, with a possible drop to $4.23 if selling continues.

Key watch: A close above $4.82 (the 30-day SMA) could indicate a price reversal, while a break below $4.23 might lead to further declines.

3. Lingering Security Concerns (Mixed Impact)

Overview: On September 30, an attacker drained a wallet and sold off PT/YT tokens, causing Pendle’s price to briefly fall to $4.14 (The Block).

What this means: Although Pendle confirmed that its core protocol was not compromised, the event shook investor confidence. The price has not fully bounced back, and low trading volume increases the risk of further drops.

Key watch: Look for upcoming security audits or stronger communication from the Pendle team to help rebuild trust.

Conclusion

Pendle’s recent price drop reflects investors taking profits after fast TVL growth, technical weaknesses, and ongoing concerns from a past security incident. Despite a solid 12.62% gain over the past 90 days, short-term risks are currently weighing on the token.

Key watch: Will Pendle hold above $4.50 and attract buyers again through Plasma’s yield opportunities, or will bearish trends and sentiment keep the price down? Keep an eye on on-chain activity and TVL changes for signs of recovery.