$PENDLE Token Buybacks Exceed $3M as Pendle's Ecosystem Continues to Grow
Pendle, a yield protocol operating in the decentralized finance (DeFi) space, has reached a significant milestone in its buyback program. The project announced that it has surpassed $3 million in total value of $PENDLE token buybacks to date.
This figure represents a major step towards strengthening Pendle's ecosystem and reducing the circulating supply of tokens. The protocol also shared updated data regarding its staking program, which has seen approximately 100 million $PENDLE tokens staked by users over six and a half months. This amount accounts for around 36% of the token's total circulating supply.
Pendle stated that the incentives provided to stakers continue to grow, with a total of $5.12 million worth of rewards and airdrops distributed to date. The project aims to support long-term user participation and accelerate ecosystem development through these incentives.