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PENDLE Pendle's repurchase program exceeded US$3 million, pledging more than 100 million tokens
Pendle, an income agreement in the decentralized finance (DeFi) sector, announced that its repurchase program aimed at strengthening the ecosystem has reached an important milestone. A statement released through the official X account shows that the total value of Pendle token repurchase so far has exceeded US$3 million.
Pendle also released the latest data on the pledge plan. The announcement stated that since the Pendle pledge mechanism was launched about six and a half months ago, the total number of Pendle tokens pledged by users has exceeded 100 million. This figure accounts for approximately 36% of the total circulation supply of tokens, reflecting the community's continued attention to the project.
Theagreement states that the incentives provided to pledge participants continue to grow. So far, a total of $5.12 million in rewards and airdrops have been issued to pledgers. Pendle said the incentives are designed to support long-term user engagement and accelerate the development process of the ecosystem.
On the other hand, the project party also announced that the issuance of new Pendle tokens is continuing to gradually decrease. According to the statement, the output of new tokens has dropped to a record low, causing a significant decline in supply growth. The goal is to help the token economy develop more sustainably by implementing a reduced issuance rate combined with a repurchase program.
Recently, many DeFi projects have emphasized repurchase and destruction programs to support token value, and Pendle is one of the projects that adopts this strategy. Repurchase helps reduce the circulation supply, while the pledge mechanism encourages users to hold tokens for a long time and stay in the system.
* This document does not constitute investment advice.
