BlockBeats News, July 22, Pendle's total locked value (TVL) reached a new high this year at $5.59 billion. The total amount of Pendle PT in the lending platform ecosystem has exceeded $3 billion, with Aave accounting for the largest share, and the total collateral for PT surpassing $2.46 billion. The collateral scale of Pendle in Morpho and Euler has also reached $442 million and $67 million respectively, indicating that Pendle's structural yield strategy is growing synchronously across multiple protocols.
The annualized yield of PT-sUSDe (Sep 2025), currently in focus in the market, has risen to 11.11%. As the returns from the July contracts have been mostly released, prices are close to the principal. Pendle reminds users to migrate funds to the September contracts as early as possible to lock in fixed returns. Current on-chain data shows that about $1.9 billion is about to flow out from the July series and be redeployed, which is expected to dilute the yield of new PT, making this a low-competition, high-yield strategy deployment window.
In addition, Pendle announced a collaboration with HyperEVM, expecting more new assets to be launched, including Hyperwave (hwHLP), Kinetiq (kHYPE), and Hyperbeat Ultra (HYPE), aimed at further expanding its asset base and ecological impact in the structured yield market.