Pendle Ranks Second on XLayer by TVL in Under a Month

Pendle has climbed to second place among protocols on X Layer by total value locked, with roughly $37.5 million recorded in a DeFiLlama snapshot fetched September 7, 2026, trailing only Aave V3. The reported milestone arrived less than a month after Pendle’s X Layer TVL first registered, though the exact launch date remains unverified.

Pendle reaches second place on X Layer by TVL

Total value locked (TVL) measures the dollar value of assets deposited in a protocol. On X Layer, an EVM Layer 2 network that uses OKB as its native gas token, according to OKX’s network overview, Pendle V2 now sits second by that metric. For related coverage, see Harmony to Shut Down Network, Migrate ONE to Ethereum.

Where Pendle stands in X Layer’s TVL rankings

DeFiLlama’s protocols data showed Pendle V2 holding $37,503,317.62 on X Layer when fetched on September 7, 2026. After excluding entries categorized as centralized exchanges, Pendle ranked second, and grouping entries by parent protocol left it second as well. For related coverage, see Liquid Network Releases 3,996 BTC After L-BTC Burn.

Pendle V2 TVL on X Layer

$37.50 million

Aave V3 led the network with $106.97 million on X Layer in the same snapshot. Uniswap V3 held $31.28 million, below Pendle, with Uniswap V2 and V4 recorded as separate entries that stayed under Pendle even when summed. These figures describe X Layer TVL only, not each protocol’s total across all chains. For related coverage, see Liquid Network Hack: WatcherGuru Reports 4,000 BTC Withdrawal.

Aave V3 TVL on X Layer

$106.97 million

The ranking concerns protocols deployed on X Layer specifically. It does not describe Pendle’s position across all blockchains, where the protocol competes on a much larger stage. Pendle recently expanded its tokenomics with a new sPENDLE staking model.

The timeline behind Pendle’s under-a-month milestone

Establishing the start and end dates

Pendle’s X Layer TVL history begins at a data point dated August 19, 2026, with $6.14 million recorded, and the latest returned point, timestamped September 6, 2026, shows the same $37.5 million figure. That spans roughly 18 days between the first tracked reading and the recent snapshot.

The first DeFiLlama reading is not a verified deployment date. A single source reported that Pendle became second-largest within less than one month of launch, but no official announcement confirms when the protocol went live or when it first reached second place. Whether the clock starts at deployment, deposits opening or another event is unspecified.

What the TVL ranking can tell readers

TVL versus adoption and revenue

TVL captures the value of assets locked in a protocol. It does not by itself establish user counts, trading activity or revenue. Pendle’s own materials describe V2 as a product for trading spot yield and earning fixed yield, per its protocol overview.

Dollar-denominated TVL also moves with asset prices, so a rise in the figure does not by itself prove equivalent net deposits. Traders tracking PENDLE alongside other yield-focused altcoins should treat the X Layer ranking as one dated data point, not a complete performance measure.

What to watch next: a dated official launch record or deployment confirmation would settle the under-a-month claim, and further DeFiLlama snapshots will show whether Pendle holds second place or narrows the gap with Aave V3 on X Layer.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.