Pendle says cumulative PENDLE buybacks top $3M

Pendle says cumulative buybacks of its PENDLE token have topped $3 million. The DeFi yield protocol said on its official X account that more than 100 million PENDLE had been staked within six and a half months of the launch of PENDLE staking, equal to 36% of total supply. Pendle added that it has distributed a cumulative $5.12 million in rewards and airdrops to stakers, while new PENDLE issuance has continued to decline and hit a record low.