According to ChainCatcher, according to RootData data, the Pendle token (PENDLE) fell 9.91% in 24 hours and is currently trading at $2.80.

Earlier news, Penpie, an independent decentralized financial protocol built on Pendle, was hacked this morning, and customer funds lost approximately US$27 million.

According to RootData, a Web3 asset data platform, Pendle Finance is a yield trading protocol that allows users to tokenize and trade future earnings by leveraging top yield-generating protocols such as Aave, Compound, and Wonderland. Similar to stripped bonds in traditional finance, Pendle divides yield assets into tokenized ownership (zero-interest bonds) and yield components (coupons), providing innovative yield trading opportunities.