Pendle is entering a decisive new phase. The yield-trading protocol has officially unveiled sPENDLE, a liquid staking token designed to replace the long-standing vePENDLE governance lock model. The change marks one of the most significant structural upgrades in Pendle’s history, shifting the protocol away from rigid long-term lockups toward a more capital-efficient, revenue-aligned token economy. The announcement, shared by Pendle on X, confirms that sPENDLE will become the new core alignment mechanism for the ecosystem. Instead of forcing users into multi-year lockups, the protocol introduces a 14-day withdrawal period, automated emissions, and a buyback-driven reward system funded by real protocol
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