Pendle DeFi’s Total Value Locked (TVL) has slumped dramatically. Pendle’s TVL was noted at $6.18 billion as of June 27, but it has dropped 42% to $3.6 billion since then. This article explores the causes of this notable drop, forthcoming Pendle catalysts, and the yet-unrealized possibilities in the protocol. Pendle’s TVL drop results mostly from maturation of some liquid restaking market pools on June 27. Many players left the point-farming game at this stage due to their disapproval of the approaching LRT airdrop.
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