pendle just hit $466m tvl on arbitrum.

but here is what most people miss:

84% of that tvl is just two tokens: usdai and susdai (usde-derived yield-bearers)

these are not random yield farming tokens. they are flowing directly into euler and morpho - two of the most sophisticated lending protocols in defi.

what this tells us:

• smart money is parking serious capital in yield-bearing stablecoins
• @pendle_fi has become the go-to platform for trading future yields
• the arbitrum ecosystem is maturing beyond simple dex trading

look at that chart. the hockey stick growth started in q3 2025.

that is not retail fomo. that is institutional capital finding yield in a low-rate environment.

the real story?

while everyone is chasing the next pump, serious players are building sustainable yield strategies through pendle yield tokenization.

$466m does not lie. this is where the smart money is positioning for 2025.

data as of oct 1, 2025