Pendle's TVL Shrinks by 40% Amidst Withdrawals and End of Points Program

Pendle, a prominent DeFi platform, experienced a 40% decline in total locked value (TVL) as users withdrew nearly $3 billion, primarily liquid restaking tokens. This decrease reflects diminishing interest in restaking airdrops and the upcoming end of Renzo's points program in July. Market expirations contributed to reduced deposits, with TVL now stabilized at around $3.7 billion.