PENDLE is the native token of the Pendle Finance platform, which enables users to trade and invest in future yield from different DeFi protocols. The platform allows users to tokenize and trade future yield streams, providing a way for users to gain exposure to expected future earnings from various DeFi assets. PENDLE tokens serve as the primary utility and governance token within the Pendle Finance ecosystem. Holders of PENDLE tokens can participate in protocol governance, voting on proposals and shaping the future of the platform. Additionally, PENDLE holders can use their tokens to access protocol features, such as staking to earn yield distributions. In summary, PENDLE is a utility and governance token that plays a crucial role in the Pendle Finance ecosystem, allowing users to trade future yield and actively participate in protocol governance."