Pendle, a decentralized finance (DeFi) protocol, experienced a significant decline in its Total Value Locked (TVL) over the past week. The TVL dropped by 40%, from $6.2 billion to $3.7 billion, as users withdrew nearly $3 billion in liquid restaking tokens. This decline is attributed to the fading interest in restaking airdrops and the upcoming end of the Renzo points program at the end of July.
I was off by a couple months 💀 but I suspected the Eigen points campaign ending would have a huge impact on $PENDLE TVL is also down 50% https://t.co/hAnVeLiwUX https://t.co/JAvU8xrlgU
$BLAST dips below $350M what went wrong?? https://t.co/kjjpFRCB7z
The announcement was, in fact, not bullish. Think the fact that $BLAST is not eligible for Jackpots was the last straw for a lot of large holders which is why the price dropped ~13%. I think the price may start to follow the same chart pattern as other new launches from here. https://t.co/FrcNb0fuHE https://t.co/yh1Bg4BIai
Lots of Wasabi liquidations of $BLAST after the blog post but coin rebounded a bit after. Still below $0.02. https://t.co/w8nvHmb7rc
I just read the @Blast_L2 announcement. Initial reaction: The Good: - Gold incentives for new builders - Gold incentives for unique dapps - More Gold transparency - More consistent reward schedule The Bad: - $BLAST earns points at the same rate $USDB. USDB yields 8%. Bearish… https://t.co/apxxqME4e2
Market absolutely HATES the @Blast_L2 announcement Everyone who was holding and hoping for a ponzi pop in the price is not getting it and choosing to GTFO Few notes: - Constant Rate of points for holding blast could give massive incentive if the constant rate is many multiples… https://t.co/1mmi7etweM
Pendle is one of the most innovative projects in this cycle imo. But the TVL and price decline due to the end of Eigen's and other products' points trading symbolizes an end of the points farming era.. https://t.co/CJLrApCBBz
This is $BLAST post-TGE. What went wrong? https://t.co/OAutowPXIx
Blur farming pre $blast TGE: -0.3E and 600 points per day. Blur farming post $blast TGE: +0.3E and 1000 points per day. What changed? https://t.co/WZI5fR62ce
Pendle, a DeFi protocol, took a hit as market expirations slashed user deposits by over a third on Thursday. In a whirlwind since Wednesday, nearly $3 billion, mostly in liquid restaking tokens, vanished. By Monday, user deposits sat just above $3.7 billion. https://t.co/FWy92dbG4a
PENDLE'S TVL FALLS 40% IN A WEEK: POSSIBLE REASONS - @pendle_fi, a DeFi protocol, saw its Total Value Locked (TVL) drop by 40% in just one week. - Users withdrew almost $3 billion in liquid restaking tokens since Wednesday. Pendle's TVL fell from over $6 billion to just above… https://t.co/dPBRxYAxgo https://t.co/xHXUELKcyJ
Pendle’s TVL drops 40% after certain LRT markets mature https://t.co/YWBurZrITg
UPDATE: PENDLE'S TOTAL LOCKED VALUE (TVL) DROPS 40% IN ONE WEEK; USERS WITHDRAW NEARLY $3B SINCE WEDNESDAY
.@pendle_fi TVL fell 40% in 2 days (from $6.2bn to $3.7bn) https://t.co/6UnPzB6Tiz https://t.co/ngzjycL8uz
Pendle's total locked value (TVL) has fallen 40% in the past week. Since Wednesday, users have withdrawn nearly $3 billion. The large-scale withdrawals reflect the user's waning interest in restaking airdrops, and Renzo's points program is about to end at the end of July. DLNews…
Post Blur & Blast incentives has seen a huge decrease in daily NFT volume and conversely an uptick in floor prices https://t.co/1Ey9NFqymG
Blast TVL is down about $1B in the past 10 days. And down about $450M since last Wednesday's airdrop. Daily transactions are down about 50% from peak as well. Very curious what incentives may reinvigorate this ecosystem... https://t.co/UkSPglUGuJ
In an effort to continue fostering the @Blast_L2 ecosystem, we have just added two new 3x vaults: Spot long $Blast & V3 Blast/wETH. Both vaults have been setup to delegated governance voting on accrued $Blast and will earn future $Blast points + additional Gold and Rewards 🧑🌾
Pendle hit with $3bn drawdown as restaking airdrops fade https://t.co/3vkidgavsI