Pendle Revamps Governance Token, Launches Liquid Spendle After Low Vependle Adoption
Pendle announced it will replace vote-escrowed vePENDLE with a liquid governance token, sPENDLE, as staking for sPENDLE opened on Tuesday, January 20, 2026. Pendle framed the redesign as a direct fix for low vePENDLE participation, noting that only about 20% of supply had been active in governance.