Pendle posts first TVL gain in a year as real-world assets take over

• —TVL rose 43% QoQ to $1.16 billion despite a roughly 58% cut in PENDLE incentives
• —RWA markets reached 82% of TVL; RWA-backed tokenized dollars hit $949 million
• —Buybacks reached 3.2 tokens per token emitted, up from 1.6 in Q2
• —About $1.06 billion, or 91% of TVL as of September 30, matures by December 17