Compare EigenCloud and Pendle on TVL, fees, revenue and activity to understand how these projects stack up.
$5.034B
EigenLayer is a restaking marketplace on Ethereum that lets ETH validators and LST holders opt‑in to provide crypto‑economic security to external ‘Actively Validated Services’ (AVSs). Participants earn additional yield by subjecting their stake to slashing conditions defined by each module, creating a shared‑security layer similar to Polkadot’s parachains. Mainnet restaking went live in April 2024, and over 4 million ETH had been opt‑in restaked by Q2 2025.
Pendle splits yield‑bearing tokens into Principal (PT) and Yield (YT) tokens, enabling users to lock in fixed rates or speculate on future yield. A permissionless AMM with a custom logit bonding curve lets YT premiums track forward‑looking yield expectations. Pendle TVL grew 10× in 2024 on the back of LST and RWA integrations, and PENDLE governance now controls a large veToken bribe market.