AI by @DefiLlama incredibly powerful for research, latest info on @pendle_fi : - April 20 fee spike: Pendle generated $199K in fees in a single day — nearly 20× its average — signaling a major maturity event or PT/YT expiry-driven volume burst - Revenue ≈ Fees: Pendle's veToken model channels nearly 100% of protocol fees back to vePENDLE lockers, one of the highest revenue-to-holder rates in DeFi - $145.9M in 7-day volume shows the protocol is actively used, not just TVL-parked capital - TVL is down 28.5% over 30 days (likely from Ethereum yield compression and PT expiries reducing locked capital) YET fees and revenue are *simultaneously growing*. That means **Pendle is doing more with less TVL**, a rare capital efficiency signal. *Data as of Apr 30, 2026. Source: DefiLlama.* (oh and I went to ask @patfscott if I could get a free sub and turns out everyone gets 7 days free to try it out and like 1/2 queries free per day even without sub...but just subscribe, it's like $40 and can pay in crypto, they are one of the best teams in supporting crypto's success long term and deserve every penny)