ChainThink report, August 18, Pendle founder TN posted on social media that three weeks ago, Pendle Finance completed the liquidation of $1.5 billion in expiring assets, after which TVL (Total Value Locked) quickly rebounded to a new all-time high (ATH) of $7 billion. Last week, another $898 million in assets matured, and Pendle once again strongly rebounded, setting a new record of $9.2 billion in TVL. During the week of August 14, approximately $1 billion in funds had already started to rotate/migrate. Combined with this liquidation, the total scale reached $1.81 billion, becoming the second-largest maturity event in Pendle's history. Even so, the outflow was only $260 million (-2.9%), and it lasted only 2 days (August 13-15). The focus of this maturity is Ethena Labs' USDe (maturing in September 2025), which has now become the largest fund pool in Pendle's history, with a TVL of $3.36 billion. This growth is attributed to: · No deposit cap in the market · Aave increased the deposit cap for this PT to $1.4 billion · A fixed annual percentage yield (APY) of 14.5% in stablecoins, which is considered the best (or close to the best) risk-return ratio in the current DeFi market. Looking ahead, Pendle is working to expand more assets and exchanges on Boros, enriching market options. In the PT (Principal Token) space, Pendle's next step is cross-chain expansion. Earlier this year, Pendle mentioned the intention to go beyond Ethereum (including EVM and non-EVM chains), and this is just the first step. Despite the increasing size and frequency of maturities, funds continue to flow back, and the stickiness is constantly increasing — this proves that Pendle is increasingly trusted and adopted, becoming the core infrastructure driving DeFi yields.