$PENDLE Farms

The information on this page was last updated: 2025-02-06

💡 Please note that there are many options available for $PENDLE beyond what's mentioned in this document, e.g. LP on liquidity pools, lend $PENDLE on lending markets, and more, to name a few. These strategies are developed by 3rd parties that are not part of the Pendle team, nor officially endorsed by Pendle. As always, do your own research and understand the risks when putting your assets to work in DeFi. Read the full disclaimer at the bottom of the page.

Vote-escrowed PENDLE (vePENDLE)

  • Developed by Pendle, vote-escrowed PENDLE (vePENDLE) represents your governance share, and gives you access to protocol revenue and reward boost on Pendle. Lock $PENDLE for up to 2 years, your vePENDLE value is proportional to the amount and duration locked. The value decays over time and when it reaches zero your PENDLE is fully unlocked.

  • Single-token exposure, so there is no impermanent loss (IL) involved.

  • Recent APR is around 5-7% (it may vary), yield is paid in $ETH:

    • Base APY

      • 3% fee collected from yield produced by all YT

      • 100% yield from all matured unredeemed PT

    • Voter’s APY

      • vePENDLE holders vote for and direct the flow of rewards to different pools, effectively incentivizing liquidity in the pool they vote for

      • earn 80% of the swap fees from the pools you voted

    • LP reward boost 🔥

      • $PENDLE incentives and rewards for all of your LPs will be boosted by up to 250% based on your vePENDLE value

  • Practically, this strategy is suitable for larger capitals who LPs into many Pendle LP pools because the LP reward boost is the most valuable benefit.

vePENDLE yields

💡 Learn more about the mechanics of vePENDLE in the documentations.

💡 DISCLAIMER This article is for informational purposes only and does not constitute financial, legal, or professional advice. Pendle is not responsible for any actions or consequences that may result from the use of the information or third-party integrations presented in this article. The third-party integrations are provided as examples and do not imply endorsement, recommendation, or affiliation by Pendle or the author. Users should do their own research and due diligence before using any third-party integration or service in the decentralized finance (DeFi) space. Pendle makes no warranty of accuracy, completeness, reliability, or suitability of the information or third-party integrations in this article. Pendle disclaims all liability for any loss, damage, injury, or expense that may arise from the use of or reliance on the information or third-party integrations in this article.

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