[Pendle Introduces sPENDLE Mechanism to Replace vePENDLE with Liquid Staking] According to Pendle's official announcement, the vePENDLE mechanism will be fully replaced by the sPENDLE mechanism. sPENDLE is a transferable and composable liquid staking token with a 14-day exit period. Protocol revenue will be used to buy back PENDLE and distribute it to active sPENDLE holders, while those not participating in governance will forfeit their rewards for the period. The original manual voting emission mechanism will be upgraded to an algorithmic model, with an expected 30% reduction in emissions. A snapshot of existing vePENDLE will be taken on January 29, and based on the remaining lock-up period, up to a 4x virtual sPENDLE boost will be granted, transitioning gradually over two years.