Tokenomics of $PENDLE. 🧵

II. - Maximum supply: 281,527,448 - Circulating supply: 165,790,532 (58.89%) - 8.33% of the supply remains locked (dedicated to liquidity incentives) - Emission 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.

III. "What about vePENDLE?" Holding vePENDLE entitles you to: - Vote to channel $PENDLE incentives into a pool - Vote to receive voter's APY (80% of the swap fees of the voted pool) - Receive base APY - Boost LP rewards (up to 250%)

IV. vePENDLE holders vote for and direct the flow of rewards to different pools (often, it's the pools they are farming themselves). A snapshot of all votes is taken at the start of every epoch on Thursday, 00:00 UTC, and the incentive rates for each pool are adjusted accordingly.

V. "Does @pendle_fi take fees?" Yes, @pendle_fi collects a 5% fee from all yield (including points) accrued by YT, but 100% of this fee is distributed to vePENDLE holders, while @pendle_fi collects no revenue.

VI. "What about vePENDLE APR?" It's kind of crazy; the APR is 23.37%, and on top of this, there was a MegaDrop ($6.9M distributed), which made even more APR back then.

VII. "What about boosting LP rewards?" If you LP in a pool while you are holding vePENDLE, your $PENDLE incentives and rewards for all of your LPs will be further boosted as well, by up to 250% based on your vePENDLE value.

VIII. To obtain the maximum boost, you have to own an equivalent % supply of vePENDLE as your ownership % of LP in the pool.

IX. Although your vePENDLE value decays over time, your LP boost rate is calculated at the time the boost is first applied. The boost rate will remain constant until you update your LP positions, in which case the rate will change based on your current vePENDLE value.

X. For cross-chain reward boosts (e.g. boosting LP positions on @arbitrum), you will first need to to synchronize your vePENDLE balance from @ethereum before the boost can be applied.

XI. TL;DR: Holding $PENDLE is not enough, go stake it and receive juicy APR (23.37%, just to remind you). Q4 will be generous for the entire market, and as the market rises, yields will rise, and @pendle_fi is one of the first to profit from it. Pendle.

What do you, ladies and gents, think of $PENDLE tokenomics? @splinter0n @0xDefiLeo @the_smart_ape @0xCheeezzyyyy @DOLAK1NG @YashasEdu @0xAndrewMoh @eli5_defi @_SmokinTed @RubiksWeb3hub @kenodnb @lstmaximalist @PendleIntern @tn_pendle @pendle_grandma

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