Pendle (PENDLE)

🧑‍💻 OGAudit Web3 Research 📢 Introducing @pendle_fi; Pendle Finance ($PENDLE) pioneers decentralized yield trading by tokenizing future yields, enabling fixed and variable yield strategies across DeFi with cross-chain compatibility. Category: DeFi Ticker: $PENDLE Market Cap: $307.07M Rank: #209 OG Score: 50.33 / 100 Reviewed by: 5 OGs 🔍 More info: https://t.co/zLrT4StYzF

Even in a sluggish market, the fundamentals for @pendle_fi and @boros_fi are moving the other way. The income statements show cashflow still flowing, and accelerating in the places that matter. 1⃣For Pendle, 2025 follows a clear cycle. Revenue came in at $12.88M in Q1, $7.52M in Q2, $16.17M in Q3, and $8.02M in Q4. With cost of revenue extremely low, gross profit stays close to revenue, so earnings are mainly driven by incentives: $5.00M in Q1, $0.43M in Q2, $8.50M in Q3, and $4.82M in Q4. Token holder net income tracks the same rhythm, moving from $10.02M in Q1 to $5.93M in Q2, peaking at $12.68M in Q3, then settling at $6.27M in Q4. Right now, vePENDLE signals relatively steady cashflow expectations across cycles, with a 25.73% historical APR, a 395-day average lock duration, and 67,439,133 PENDLE locked. 2⃣Boros has a shorter quarterly history, but the growth rate stands out. Revenue jumped from $92,987 in Q3 to $204,369 in Q4, more than doubling QoQ. Gross profit rose in tandem from $86,197 to $175,694, while the gross margin slipped from roughly 92.7% to 86.0% as token swap fees increased and were reflected in the cost of revenue, making that portion more pass-through than retained profit. Token holder net income remains at $0 in both Q3 and Q4, which fits a phase focused on scaling activity first. That focus is evident even more in operating metrics: open interest reached $200M and notional trading volume surpassed $6.3B in roughly 4.5 months since the August launch. This is the indicator that activity is compounding faster than revenue recognition on the statement. The clean read is this: Pendle v2 has already proven its ability to generate revenue and convert a large share into token-holder cashflow every quarter, while Boros is in a ramp-up phase, prioritizing market share and liquidity before optimizing capture and distribution. In a slow tape, the difference is simple: one side keeps producing "clean" cashflow that sustains APR and long-duration locking, while the other is building the trading flywheel that can translate operational growth into more durable revenue in the quarters ahead.

Hard to find a real yield that doesn't vanish when the market mood shifts? @pendle_fi consistently shows the same pattern: whether the market is euphoric or exhausted, it still offers some of the strongest stablecoin yields. In the current Top 10 stablecoin yield positions with more than $10M in TVL, Pendle takes 5 spots, meaning it holds half of the leaderboard. Right now, the two highest yielding positions on that list are: 🔹PT-sNUSD [05MAR2026] at 13.38% APY 🔹PT-sUSDai [19FEB2026] at 13.26% APY ❌Complex Farming in many DeFi Protocols ✅Just Farm on Pendle

$PENDLE #PENDLE It is expected to see a speculative rally capped at $3, which may not even be reached; afterward, a new decline will begin, targeting the red‑highlighted numbers, God knows. https://t.co/pjl6oUdBoh

《 Tribute to the eternal Pendle V god @ViNc2453 》 Pendle's November dividend is out ↳↳ 1700u (including airdrop) Due to market factors, returns have fallen by more than half Account return ranking #96, another at #129 Reviewing past return history October profit 4400u ; September profit 4600u ; August 4000u ✅ Grateful for the returns, but next month is not expected to be good either —————— Recent shocking news Nothing more shocking than ViNc leaving Pendle @pendle_fi ViNc's article: He once led a group of newcomers to explore the beauty of Pendle, gradually becoming die‑hard supporters. Regardless of the reason, his departure is lamentable and regrettable. Thank you for your contributions 🫡 『 ViNc rose like a blazing sun, illuminating the long, cold night of DeFi. The article spread, his fame rose far and wide. APY orbits around him. If one day the sun extinguishes, his resonant name will surely streak across the dark night like a meteor. '}

Gm Added $pendle Added $Mon again

Hayes deploying heavy