For the first time in a long time, @pendle_fi now hits the top 10 by TVL pushing close to $5b Almost 50% of this comes in the form of sUSDe of @ethena_labs As Ethena grows, so does Pendle.

On 29 May 2025, $3.8B of TVL on @pendle_fi matured. At its lowest, TVL dipped from $4.61B → $4.10B (-11%) on the 1st day, as per @DefiLlama. But in just 7 days, it fully rebounded, marking our best ever post-maturity 7-day retention rate. Since then, TVL continued to climb despite the turbulent market and 2 weeks since the maturity event, Pendle is now sitting at ~$4.9B of TVL. This resilience signals a maturing fixed yield market (i.e. Pendle market), driven by real, sticky demand and supported by more predictable capital flows. Our strategic shift toward stablecoin-focused yield further strengthens this foundation, making Pendle’s TVL less sensitive to broader market volatility. In both bull and bear, the appetite for stable, fixed yield endures. We've spent years kneading in the yield sweatshop to reach this stage, and now the dough is set for us to finally start cooking - Boros, Citadels... Job's not done, Pendiddlers ~

vePENDLE thesis - Buffett's philosophy applies in DeFi The market has matured since the 2020–2021 bull run. Speculation-driven strategies like memecoins and airdrop farming often reward only early players, while point farming yields diminishing returns for most. So how do we build sustainable, long-term success in DeFi? This is when Buffett's principle still holds: invest in businesses with strong cash flow and high return on capital. @pendle_fi fits that mold. With vePENDLE, holders gain exposure to real yield, sustainable revenue, and growing integrations across LRTs, RWAs, LSDs, and stablecoins. Here’s why vePENDLE is the most underrated value play in DeFi right now:🧵