A certain Pendle team transferred 400,000 PENDLE to Binance

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, a Pendle team affiliated address transferred 400,000 PENDLE ($2.7M) to Binance one hour ago.

This address unlocked 900,000 PENDLE on 2022/4/29, and unlocked an additional 225,000 PENDLE every quarter over the next year, totaling 1.8 million PENDLE unlocked.

Based on the unlocking schedule for PENDLE, this address belongs to the Pendle team. The PENDLE team token unlocking rules: after the token launch in April 2021, it unlocks quarterly over 2 years, with a 1-year cliff period.

Pendle is one of the most prominent DeFi projects in this bull market, with the PENDLE token increasing tenfold in the past six months.