Pendle

Pendle has been featured in **Keyrock Trading's comprehensive Onchain Asset Management Report**. The report includes: - Pendle's perspective on the future of onchain asset management - Insights from major industry protocols and contributors - Analysis of the evolving asset management landscape This collaboration highlights Pendle's growing influence in the DeFi space and its role in shaping onchain financial infrastructure. [Read the full report](https://keyrock.com/onchain-asset-management-report/)

**Pendle has launched USDe (27 Nov 2025) trading** on HyperEVM, perfectly timed for Ethena Labs' upcoming S5 season. **Key features include:** - 60x Sats Rewards through Pendle's full toolkit - Fixed yield opportunities on USDe - Leveraged exposure to $ENA airdrops - vePENDLE voting already active **$PENDLE incentives begin Thursday at 00:00 UTC.** The launch builds on Ethena's recent Avalanche expansion, where USDe and sUSDe went live across major DeFi protocols. Users can access [PT-sUSDe on Aave](https://app.aave.com/reserve-overview/?underlyingAsset=0xe6a934089bbee34f832060ce98848359883749b3&marketName=proto_mainnet_v3) and utilize [one-click looping on Contango](https://app.contango.xyz/strategies/farming/usd-stablecoins) for enhanced strategies.

HyperEVM has demonstrated remarkable growth, accumulating over $300 million in Total Value Locked (TVL) within its first two weeks of operation. This rapid expansion has secured its position among the top 10 protocols on DeFiLlama. This achievement follows a broader trend in DeFi growth, as evidenced by Spark's earlier success reaching nearly $4 billion TVL with a 58.1% monthly growth rate. - HyperEVM: >$300M TVL in <2 weeks - Achieved top 10 ranking on DeFiLlama - Joins other fast-growing DeFi protocols *Data verified through [DeFiLlama](https://defillama.com/)*