FluWhaleYo retweeted
Pendle is now the 2nd largest venue in DeFi for tokenized stocks, with ~17% market share 🏦
🔹7th → 2nd largest venue in one month
🔹1st in tokenized stocks TVL growth last month
FluWhaleYo retweeted
New milestone for $PENDLE 🔥
Total buyback has exceeded 3 million PENDLE, just ~8 months after the launch of sPENDLE.
Buyback is also outpacing V2 emission by 6x.
For every PENDLE emitted, 6 more gets bought back from the open market and distributed to sPENDLE stakers
FluWhaleYo retweeted
Some highlights from H2 2026 so far:
🔹Launched PendleLoop, one place to earn or trade with leverage, from looping PTs and sUSDe to going long/short BTC, ETH and the Mag 7 stocks
🔹RWA development - Listed tokenized funds from Janus Henderson (deJAAA), Franklin Templeton (FLHYon), Partners Group (NGI+) and Bitwise (PPLUS), plus tokenized stocks on Base and Robinhood Chain
🔹Started RWA Insights, our interview series with the institutions bringing assets onchain. So far we’ve spoken with Partners Group and Asseto, Franklin Templeton, Janus Henderson and Grayscale, with more to come soon
🔹Launched the Pendle Ecosystem USDC vault on @Morpho with Armitage by @wintermute_t, lending into our flagship PT markets to give PT loopers deeper borrow liquidity
🔹Followed it with the Pendle Ecosystem High Yield USDC vault, also curated by Armitage, which lends into PT markets picked for more upside
🔹Released Arbitrage with CrossEx, an open source terminal that turns cross-exchange funding rate arbitrage into a 2-click trade
🔹Launched spread markets on @boros_fi, allowing the funding gap between 2 venues to trade as a single position. Arbitrage with CrossEx gets simpler too and transforms into a 2 leg strategy (perps on CrossEx + spread market on Boros)
🔹Launched the Pendle Investor Portal, with protocol performance, revenue, buybacks and $PENDLE data in one place.
FluWhaleYo retweeted
These are the first cStocks Pendle supports on Base, and more are coming. The bigger opportunity is what gets built on top.
PTs like PT-NVDAc give you a fixed-yield position on a tokenized equity, a natural fit for @aave and other Pencosystem partners.
FluWhaleYo retweeted
Franklin Templeton’s high yield corporate bond ETF, now on Pendle.
Introducing @Ondo FLHYon (10 Dec 2026 maturity).
Bond desks have traded coupons separately from principal since the 80s, and now you can do the same onchain for RWA corporate credit on Pendle.
FluWhaleYo retweeted
Over $1B in RWA TVL and growing 🔥
94 of the markets we’ve launched this year are RWAs, from $STRC and T-bill dollars to stock tokens on @RobinhoodCrypto and Partners Group’s NGI+.
In the works now - permissioned instance for KYC products, RWAs directly from issuers (e.g. Franklin Templeton, SBI, Fidelity)
RWA DeFi TVL growth by venue, past 24 hours
@aave V3 led with +$8.6M, followed by @pendle_fi (+$5.9M) and @kamino (+$5.6M).
@aerodromefi Slipstream (+$790.7K) rounds out the list.
Data via @tokenterminal
FluWhaleYo retweeted
One of the many RWAs Pendle will be launching
Pendle x Partners Group opens doors for a various basket of tokenized yield coming from not only t-bills but also dividends
FluWhaleYo retweeted
I'm convinced RWAs are a 100x opportunity for crypto, and the best way to understand where it's heading is to get inside the minds of the people building it from the institutional side.
That's why we started RWA Insights. Vincent and Bridget were generous with their time and their thinking, and I came away having learned a lot. More conversations are lined up, including a few names I'm looking forward to sharing soon.
FluWhaleYo retweeted
I'm inevitable - said Thanos.
Now @pendle_fi wants to deploy their snap for the entire yield sector. Here's their plan:
+ Pendle V2 captures any yield that lives inside a token onchain
+ @boros_fi covers the rest, especially funding rates from perp markets
Detailed plan will come across 3 main assets:
+ Stablecoins (new players like USDG or USDe)
+ Tokenized RWAs (T-bills, private credit, STRC dividends, tokenized equities, and compute infra)
+ Equity perps which generate fuel for Boros
We're witnessing the big Pendle's snap.
FluWhaleYo retweeted
Pendle's five-year framing lands on the idea that yield doesn't care which trend wins, it just needs somewhere to get priced, fixed and hedged.
$PENDLE V2 handles the yield already sitting inside on-chain tokens and @boros_fi takes the rest, mostly perp funding.
The clever part is that this is a bet on the second derivative.
> Stablecoins (~$300 billion today, Citi sees $1.9 trillion by 2030)
> Tokenised RWAs (~$39 billion, up from $10 billion in early 2025)
> Equity perps (OI up more than 10x in six months)
Any of them throwing off yield sends flow toward Pendle, so it only needs the aggregate to grow.
And the capture mechanic is repeatable: a new yield token launches, PT/YT splitting pulls a majority of its supply onto Pendle within weeks, and liquidity follows the supply.
PTs clear as collateral across DeFi and CeFi, and the mechanics are now a flywheel where every 1 $PENDLE spent buys back 10.4 $PENDLE from the open market, emissions are down 93% YTD, and liquidity depth is still up ~40%.
Whichever mega trend wins, the yield underneath it converges on Pendle.
FluWhaleYo retweeted
I love betting on great founders instead of great product ideas.
A great example of this is @tn_pendle for ethereum:0x808507121b80c02388fad14726482e061b8da827.
Unfortunately I wasn’t that deep into DeFi last bear market so I bought during bull, but $PENDLE saw a huge run up into the bull after finding product-market fit.
@pendle_fi struggled during 2022-2023 bear market until they found something that works.
They basically allow you to split the variable yield from a yield baring token so people can speculate on yield with YTs or get a fixed yield with PTs.
After they found that market, they dominated and generated real revenue.
Not to mention they launched @boros_fi last bull too which allows you to trade or fix funding rates.
Currently they’re using some revenue to buyback $PENDLE and distribute to staked sPendle holders.
sPendle can be unstaked with a 14 day wait period or a 5% fee if instant.
It’s the perfect success story of how a giga chad founder persevered and found PMF after initial struggles.
That’s why I bet on strong founders.
FluWhaleYo retweeted
3 segments we’re confident to become supermassive this cycle, and we’ve positioned Pendle to absorb all of them:
(1) Stablecoins
(2) Tokenized RWAs
(3) Perps
With both V2 and Boros, the infrastructure is already built for us to Pendle every yield in the world. When these waves come, Pendle will be there for them all.
FluWhaleYo retweeted
gm to all budding financial criminals,
@pendle_fi has reached a level of efficiency that 10 PENDLE are bought back for every 1 emitted!
Thank you for your attention to this matter.
Nutoro
Let’s.
Fucking.
GOOOOOOOOOOO!
Finally glad to announce the next wave of assets coming to Pendle: institutional grade tokenized assets, starting with @PartnersGroup’s NGI+.
This is something we’ve been working towards for the past few months alongside @AssetoFinance.
Our thesis is that a significant wave of assets: Treasuries, bond funds, equities, ETFs and private market products is coming onchain. @Pendle_fi is positioning itself as the primary yield layer for these assets where future returns can be priced, traded and fixed.
This creates a new layer of DeFi utility for tokenized assets beyond simply issuing or holding them onchain.
NGI+ is an important first step, with many more assets already in the pipeline.
The next few months will be a major chapter for tokenized assets onchain, and we’re excited to help build the market infrastructure around them.
FluWhaleYo retweeted
Finally glad to announce the next wave of assets coming to Pendle: institutional grade tokenized assets, starting with @PartnersGroup’s NGI+.
This is something we’ve been working towards for the past few months alongside @AssetoFinance.
Our thesis is that a significant wave of assets: Treasuries, bond funds, equities, ETFs and private market products is coming onchain. @Pendle_fi is positioning itself as the primary yield layer for these assets where future returns can be priced, traded and fixed.
This creates a new layer of DeFi utility for tokenized assets beyond simply issuing or holding them onchain.
NGI+ is an important first step, with many more assets already in the pipeline.
The next few months will be a major chapter for tokenized assets onchain, and we’re excited to help build the market infrastructure around them.
Partners Group's Next Generation Infrastructure strategy is now live on Pendle as NGI+ (10 Dec 2026 maturity).
@PartnersGroup manages $186 billion across private equity, infrastructure, private credit, real estate and royalties for institutional and private investors worldwide.
NGI+ is the onchain token linked to the NAV performance of Partners Group Next Generation Infrastructure, the firm's open-ended fund that invests alongside that flagship program.
Private infrastructure of this calibre has historically been reserved for pensions, sovereign funds and family offices, and is now readily available through Pendle x @AssetoFinance, opening access to the fund's $1 billion AUM onchain.
In 2.5 years, the fund has returned 48.8% net with volatility below 2.5%, returns and yield that can now be priced and traded around the clock on Pendle. Fixed rate is also now available for anyone looking to a lock in a return, which at time of writing is at 19%, higher than the fund's historical performance.
This listing marks the point where private markets and onchain fixed yield meet at institutional scale. Pendle is proud to have brought a Partners Group strategy onchain. As the world's largest asset managers tokenise their funds, Pendle is the infrastructure that turns those assets into tradable yield, and we look forward to unlocking more of them alongside partners like Asseto 🤝
FluWhaleYo retweeted
$PENDLE emissions just hit a new all-time low, down 92% from the start of the year, against a target of 30%.
Buybacks now outpace new supply by ~10x:
🔹 0.2% annual inflation
🔹 2% annual buyback rate
