Compare Pendle and Sky Lending on TVL, fees, revenue and activity to understand how these projects stack up.
$1.103B
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.
Sky Lending is the flagship product of StableLab’s Sky ecosystem, enabling over‑collateralised borrowing of sUSDS and real‑world asset stablecoins. Interest accrues per‑second and can be paid in advance, allowing negative interest or fixed‑term loans. An on‑chain risk oracle adjusts LTV caps daily based on market volatility metrics sourced from Chainlink and Pyth.