Pendle’s TVL dropped 40% in a week due to the expiration of multiple products

According to DL News, DeFi protocol Pendle has seen nearly $3 billion in withdrawals from users since last Wednesday due to the expiration of multiple markets, causing the total deposited value to drop to $3.7 billion and the total locked value (TVL) to decrease by 40% in the past week.Ian Unsworth, founder of Kairos Research, stated that these outflows were mainly due to the expiration of some products. The expiration of Ether.Fi's eETH, Renzo's ezETH, Puffer's pufETH, Kelp's rsETH, and Swell's rswETH on the Pendle market on June 27th caused a large amount of funds to flow out. The outflow of funds from Pendle also affected the related protocol Zircuit, with the deposited value decreasing by 15% in a week.