TechFlow news, January 20 — According to The Block, DeFi project Pendle announced the launch of sPENDLE, a liquid staking token that officially replaces the original vePENDLE multi-year locking mechanism. The new system reduces withdrawal periods from several years to just 14 days and introduces transferable, composable token features, simplifying user participation. Pendle revealed that the previous vePENDLE system attracted only about 20% of the token supply—among the lowest adoption rates in its category. The new mechanism will allocate up to 80% of protocol revenue toward PENDLE buybacks and implement an algorithmic emission model, expected to reduce total emissions by approximately 30%. Existing vePENDLE holders will receive reward multipliers of up to 4x based on their remaining lock-up duration, with the multiplier decaying linearly over two years.
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