Pendle, a prominent DeFi protocol, has seen a dramatic 40% decline in its total locked value (TVL) over the past week. Since Wednesday, users have withdrawn nearly $3 billion, reflecting a noticeable decrease in interest in restaking airdrops. This decline is further compounded by the imminent conclusion of Renzo’s points program at the end of July. Pendle’s total locked value (TVL) has fallen 40% in the past week. Since Wednesday, users have withdrawn nearly $3 billion. The large-scale withdrawals reflect the user’s waning interest in restaking airdrops, and Renzo’s points program is about to end at the end of July.
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