Bullish
PENDLE Circulating Supply Hits All-Time Low as Buybacks Outpace Issuance by 5x
2026-08-04 09:38
Protocol fee-funded buybacks exceed secondary issuance fivefold, driving circulating supply to record lows while 92% of holders remain staked.
Woofun AI reports that PENDLE's circulating supply has reached an all-time low. Revenue from protocol transaction fees finances token buybacks at a rate five times higher than the secondary offering pace.
Additionally, approximately 92% of PENDLE holding addresses have never unstaked.
WOOFUN AI
Impact Assessment · Quick Read
The aggressive buyback mechanism, funded directly by protocol revenue, creates significant deflationary pressure on circulating supply. With the vast majority of holders remaining staked, sell-side liquidity is constrained, potentially amplifying price volatility on any demand shock. This structural shift highlights a move toward sustainable tokenomics driven by actual usage rather than inflationary incentives.
Generated by WOOFUN AI · For reference only, not investment advice
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