Pendle Vependle Governance Launch event
Overview
Pendle introduced vePENDLE, a vote-escrowed governance token, as part of its V2 upgrade on 29 November 2022. The mechanism follows Curve's veCRV framework: holders lock PENDLE for a predetermined period to obtain voting rights, a portion of protocol fees and enhanced liquidity-provider yields. Voting determines the allocation of liquidity-mining incentives among Pendle pools. The infrastructure includes token-locking contracts, cross-chain messaging systems and voting controllers. Subsequently, Pendle adopted a more flexible governance approach with the launch of sPENDLE, designed to reduce the drawbacks associated with extended lock-up periods.
Relations
No connections recorded for this entity in The Counterparty knowledge graph yet.
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.
Questions on the record
On what date did vePENDLE become available?
vePENDLE was introduced with Pendle V2, which launched on 29 November 2022.
What functions does vePENDLE serve?
vePENDLE is minted by locking PENDLE tokens. It grants governance voting power, a portion of protocol revenue, and enhanced LP rewards. Holders use it to vote on the allocation of liquidity-mining incentives across pools.
Which token later supplemented or replaced vePENDLE?
Pendle subsequently launched sPENDLE, a more liquid governance token designed to reduce the friction associated with multi-year locks and to increase participation.