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*Inflation figures shown here reflect circulating (market) inflation and may differ from a coin’s projected, policy (planned) inflation.

What is Pendle?

Pendle is a DeFi protocol on Ethereum that tokenizes the future yield of yield-bearing assets by separating yield from principal into distinct tokens. This enables yield trading, hedging, and more flexible exposure to DeFi yields. The native PENDLE token powers governance, staking rewards, and incentive programs to bootstrap liquidity and adoption.

Why does Pendle have inflation?

Pendle has inflation because it mints PENDLE tokens to reward liquidity providers, stakers, and participants in its governance and incentive programs. These emissions are designed to bootstrap liquidity and platform adoption, typically with a decreasing emission schedule to gradually reduce inflation over time.

How is Pendle inflation calculated?

Pendle inflation is calculated by comparing the circulating supply from one year ago to today’s supply. The percentage increase in supply over that period is the annual inflation rate. Learn more in our guide: What is cryptocurrency inflation?.

How is Pendle emission calculated?

Pendle emission refers to how new coins enter circulation, usually through mining or staking rewards. The emission rate depends on the project’s monetary policy and block reward schedule. Learn more in our guide: What is cryptocurrency emission?.

FAQ

We calculate our own inflation and emission data via our algorithms. You can learn more about how we derive our data in the learn page.

We encourage the usage of any data available on this website. You may use it for your personal or educational goals, but do not use it commercially unless you purchase the CryptoInflation API.

We strive to make the data as accurate as possible, but some blockchains have limitations on how precisely supply, inflation, and emission can be calculated. Moreover, the data on this website often has to be averaged and approximated, therefore the data can be a bit off sometimes.

Cryptocurrency emission and inflation aren’t inherently bad—they’re part of how many blockchains secure their networks and incentivize miners or validators. Moderate inflation can help distribute coins fairly and keep the network active, but excessive or poorly managed emission may dilute value and hurt long-term sustainability. You can learn more about how issuance affects price here.