Pendle Finance has executed a major tokenomics overhaul in 2026. Token emissions have been cut by approximately 93%, bringing annual inflation down to just 0.2%, well below Bitcoin’s 0.85% rate. The protocol directs 80% of its revenue toward open-market token buybacks at ten times the rate of new emissions, with estimated 2026 revenues around $13 million. Over 100 million PENDLE tokens are now staked through sPENDLE, representing 36% of total supply and nearly doubling participation compared to the previous system. Liquidity depth has increased by 40%, enabling larger trades with reduced price impact.
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