Pendle's TVL dropped 40% in the past week due to the expiration of multiple products

Odaily News DeFi protocol Pendle has withdrawn nearly $3 billion in deposits since last Wednesday due to the expiration of multiple market products, most of which are liquidity re-staking tokens. On Monday, the total value of user deposits fell to $3.7 billion, and Pendle's total locked value (TVL) fell 40% in the past week. Ian Unsworth, founder of Kairos Research, said that these outflows were mainly due to the expiration of some products. On the Pendle market, ether.fi's eETH, Renzo's ezETH, Puffer's pufETH, Kelp's rsETH and Swell's rswETH related products expired on June 27, resulting in a large outflow of funds. Pendle's capital outflow also affected the related protocol Zircuit, whose deposit value fell 15% in a week. (DL News)