Pendle — Staking Pools & DeFi Yield

Explore all yield opportunities on Pendle — 100 active pools across 6 blockchains with a combined TVL of $825.33M. Find the best Pendle pool for your risk profile and start earning passive DeFi income today.

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Protocol Overview

Total Pools

100

Total TVL

$825.33M

Best APY

37.12%

Chains

Stable Pools

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Top Pendle Pools

The table below shows up to 20 of Pendle's highest-TVL pools. Click any pool for its full APY history, risk analysis, and step-by-step staking guide.

Pool	Chain	APY	TVL	Tags
USDG	Ethereum	6.15%	$59.14M	Stable
USDG	Ethereum	4.21%	$59.14M	Stable
USDAI	Arbitrum	5.66%	$35.88M	Stable
USDAI	Arbitrum	0.88%	$35.88M	Stable
SNUSD	Ethereum	8.57%	$28.80M	Stable
SNUSD	Ethereum	7.28%	$28.80M	Stable
SRUSDE	Ethereum	4.27%	$20.95M	Stable
SRUSDE	Ethereum	5.11%	$20.95M	Stable
SUSDE	Plasma	3.70%	$19.21M	Stable
SUSDE	Plasma	3.74%	$19.21M	Stable
KHYPE	Hyperliquid L1	2.75%	$17.22M
KHYPE	Hyperliquid L1	4.36%	$17.22M
USDAI	Plasma	13.46%	$14.94M	Stable
USDAI	Plasma	3.11%	$14.94M	Stable
SUSDE	Ethereum	4.68%	$14.80M	Stable
SUSDE	Ethereum	4.52%	$14.80M	Stable
SUSDAI	Arbitrum	7.65%	$12.36M	Stable
SUSDAI	Arbitrum	7.89%	$12.36M	Stable
JRUSDE	Ethereum	6.97%	$12.34M	Stable
JRUSDE	Ethereum	7.33%	$12.34M	Stable

View all 100 Pendle pools →

About Pendle

Pendle is a decentralized finance protocol operating across 6 blockchains including Ethereum, Arbitrum, Plasma. The protocol enables crypto holders to earn yield through automated smart contracts — no custodians, no KYC, and full transparency via on-chain data.

With $825.33M in total TVL across 100 pools, Pendle represents a significant segment of the DeFi yield landscape. Users interact directly with the protocol's smart contracts via any compatible Web3 wallet, maintaining full custody of their assets throughout.

How Pendle Generates Yield

Pendle creates yield for depositors through primarily stablecoin-focused pool mechanics. Yield sources include trading fees from every swap routed through liquidity pools, interest paid by borrowers in lending markets, and protocol incentive distributions to attract and retain liquidity. The specific yield source varies by pool — check each pool's APY breakdown (Base APY vs. Reward APY) to understand where the yield comes from.

Base APY represents sustainable fee income; Reward APY comes from token incentives that can change as protocol programs evolve. For long-term positions, prioritize pools with strong base APY. For short-term yield farming, high-reward-APY pools can be lucrative if entered and exited strategically before incentive programs wind down.

Pendle Across Blockchains

Pendle is deployed on 6 chains: Ethereum, Arbitrum, Plasma, Hyperliquid L1, BSC, Base. Each deployment offers different pools, liquidity levels, and gas costs. The Ethereum mainnet deployment has the deepest liquidity but higher gas costs. Layer 2 deployments offer similar opportunities with significantly lower transaction costs. Choose the chain that best matches your position size and fee tolerance.

Security & Risk Profile

Before depositing into any Pendle pool, assess the specific risks. Pools with the IL tag involve multi-asset positions where price divergence can reduce your effective return. Pools with the Stable tag use stablecoin assets, minimizing price volatility risk on your principal. All DeFi pools carry inherent smart contract risk — verify Pendle's audit status from their official documentation before depositing large amounts.

Pendle Pool Risk Summary
Pool Type	APY Range	IL Risk	Recommended For
Stablecoin pools	3–15% typical	None	Conservative yield, capital preservation
Single-asset pools	Varies	None	Yield on existing holdings without ratio risk
Multi-asset AMM pools	Higher	Moderate–High	Active yield farmers comfortable with IL

How to Use Pendle Effectively

To maximize returns on Pendle: start with pools that have high TVL (lower exit slippage), check whether APY is fee-based or emission-based, and review the protocol's incentive program timeline. For multi-asset pools, calculate your expected IL at various price scenarios before committing — many DeFi calculators are available online for this purpose.

For tax purposes, each reward claim from Pendle pools is typically a taxable event in most jurisdictions. Keep records of your deposits, withdrawals, and reward harvests with timestamps and USD values at the time of each transaction.

Frequently Asked Questions

What is Pendle?

Pendle is a DeFi protocol offering 100 yield pools across 6 blockchain networks. It enables crypto holders to earn passive yield through stablecoin pools, liquidity provision, and protocol incentives. Total TVL across all Pendle pools is $825.33M.

What is the best APY on Pendle?

The highest current APY on Pendle tracked by APY Hub is 37.12%. Rates vary by pool and change daily based on utilization, trading volume, and incentive programs. Browse all Pendle pools sorted by APY to find the current best opportunity.

How do I stake on Pendle?

To start earning on Pendle: acquire the required tokens from an exchange, set up a Ethereum wallet, visit the official Pendle app, connect your wallet, select a pool, and deposit. Your yield begins accruing immediately with no lockup period in most pools.

Is Pendle audited and safe?

Most established DeFi protocols like Pendle conduct regular security audits. Verify audit status on the official Pendle documentation or their GitHub repository. The protocol's TVL of $825.33M indicates significant user trust, but always check audits and never invest more than you can afford to lose.

On which blockchains does Pendle operate?

Pendle is deployed on Ethereum, Arbitrum, Plasma, Hyperliquid L1, BSC and 1 more chains. Cross-chain deployments allow users to access Pendle pools on the chain with the most suitable fees and liquidity for their needs.

Pendle Tokens Available on These Exchanges