Tokenomics
As of September 2024, all team and investor tokens have fully vested. Any increase to circulating supply will be contributed by incentives and ecosystem building.
Weekly Emission
Weekly emission as of Sept-2024 is 216,076 with a 1.1% decrease each week until April 2026. At that point, it will switch to a terminal inflation rate of 2% per annum for incentives.
As the industry matures, governance may propose changes based on the evolution of ecosystem best practices.
Circulating Supply
Circulating Supply refers to all freely circulating Pendle token which does NOT include:
- Pendle staked in sPENDLE contract
- Pendle in vePENDLE contract (winding down — users should migrate to sPENDLE).
- Pendle in Ecosystem Fund address.
- Pendle in Governance Multi-signature address.
- Pendle in Team Multi-signature address.
The total supply of Pendle tokens at any point in time is the Circulating Supply plus Pendle in the 5 addresses above.
