Pendle Surpasses $3M in Token Buybacks, Staking Incentives Reach $5.12M

Pendle, a decentralized finance (DeFi) yield protocol, has announced that it has surpassed a significant milestone in its token buyback program. According to an official statement via the project's X account, the total value of PENDLE tokens bought back by Pendle has exceeded $3 million.

The protocol also shared updated data on its staking program, stating that approximately six and a half months after the launch of the PENDLE staking mechanism, the total amount of PENDLE tokens staked by users has surpassed 100 million. This figure represents approximately 36% of the token's total circulating supply.

Pendle reported that the incentives provided to staking participants continue to grow, with a total of $5.12 million worth of rewards and airdrops distributed to stakers to date. The project aims to support long-term user participation and accelerate the development of its ecosystem through these incentives.