Gate News message, April 27 — Pendle announced it has distributed $7.49 million in CHIPS rewards to sPENDLE holders, funded by protocol fee revenue. The distribution was calculated based on time-weighted holdings during the previous cycle from April 7 to April 20.
The CHIPS distribution is separate from the existing buyback rewards mechanism and represents additional yield for token holders. Pendle said it will continue enhancing the reward structure through multiple channels including fees and buybacks to improve the protocol’s overall incentive sustainability.
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