INTRODUCING SPENDLE

Summary from the TLDR Crypto newsletter

Pendle Finance is replacing its vePENDLE vote-escrowed token with sPENDLE, a liquid staking token that eliminates multi-year lock requirements in favor of a 14-day withdrawal period. The new tokenomics model redirects protocol revenue toward PENDLE buybacks rather than direct distributions. This transition improves capital efficiency for token holders while maintaining governance participation, marking a shift from traditional ve-tokenomics to a more liquid staking architecture.