DeFi protocol Pendle revamps governance token, citing low adoption

Pendle has announced the introduction of a new governance token, sPENDLE, which will gradually replace the current vePENDLE. This move aims to enhance adoption, which has not progressed as expected thus far. The new model is designed to offer more flexibility, providing users with increased options and opportunities. As a result, liquidity and transaction volume are anticipated to improve, revitalizing the Pendle ecosystem and boosting community engagement. Pendle's intention to optimize the token's functionality based on community feedback could contribute to evolving token design and user experience in the DeFi market, potentially setting a ripple effect throughout other projects in the space.