The yield trading protocol Pendle announces the launch of a token economy upgrade, which will officially introduce the sPENDLE mechanism while deprecating the existing vePENDLE system.



This upgrade offers PENDLE holders a better way to participate in the ecosystem. The upgraded token model has two core features: first, the protocol-generated revenue will be directly used for market repurchase of PENDLE tokens, which will then be distributed to active sPENDLE holders; second, the newly launched sPENDLE will support deployment across 14 blockchains.

This means that ecosystem participants can participate in yield distribution more flexibly in a multi-chain environment, while the repurchase mechanism enhances the token’s scarcity expectations. This upgrade reflects Pendle’s redesign for sustainable ecosystem development and user incentives.
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