we love 'up only' numbers but if its structural, then we're talking different Q3'25 was one of @pendle_fi strongest quarters, behaving like a full-on yield infrastructure layer for the entire ecosystem 👇 1. TVL explosion • $8.75B TVL in Q3 → +118.8% QoQ • up from $3.99B → one of the fastest-growing TVLs in DeFi • 80% of TVL now stablecoins, showing product-market fit for yield-bearing stables • #2 protocol on @Plasma with ~$1B TVL (≈30% of chain) 2. trading volume going orbital • $23.39B notional volume in Q3 → +236.1% QoQ • daily volume in 2025 averages $148M vs $95M last year • $11B ATH month in September • @boros_fi hit $1B in 1.5 months (10× faster than V2 launch) 3. Fees + revenue entering “real business” territory • $9.53M fees in Q3 (+58% QoQ) • $9.14M revenue (+54.1% QoQ) • beyond Q3, October 2025 alone hit an all-time high in organic fees + revenue (ex-MegaDrop) 4. user growth • 29.2K MAU → +13.6% QoQ • Ethereum leads with 18K MAU • HyperEVM shows strong early adoption (launched in Q3) 5. structural wins • $75B fixed yield settled historically • 45%+ of PTs deployed as collateral → real integration into money markets • major stablecoin protocols ( @USDai_Official , @capmoney_ , @kinetiq_xyz , @FalconStable , @almanak ) bootstrapping liquidity through Pendle did you get more bullish as you read on? ze pendle flywheel: TVL growth → deeper liquidity → more trading volume → higher fees → stronger vePENDLE yields → more users → more integrations what to be excited for: Boros becoming a monster + multi-chain expansion + upcoming non-EVM push (Solana) + planned token mechanism revamp pendle (not ashamed to say that 'pendle' is the easiest and seemingly the most profound one worded comment one can give)

Pendle loverssss @tn_pendle @PendleIntern @Rightsideonly @pendle_grandma @ViNc2453 @Neoo_Nav @MeshClans @Jonasoeth @cryptovishal7 @crypto_linn @0xCheeezzyyyy @kenodnb @Defi_Warhol @DeFi_Perryy @Eli5defi @0xgilllee