Pendle Finance has experienced a significant drop in its total value locked (TVL) over the past week. According to DefiLlama data, TVL decreased by 40% from $6.18 billion on June 27 to $3.7 billion on July 1.

This decline was largely due to some of Pendle's products reaching maturity at the end of June, resulting in around $3 billion being withdrawn from the protocol.

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