PENDLE vs UNI
Pendle Finance and Uniswap scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
PENDLE scores 160 of 250 and ranks 13th of 251. UNI scores 167 and ranks 9th. UNI leads by 7 points, which is inside the range where the individual variables matter more than the total. PENDLE takes 9 of the 25 variables, UNI takes 11, and 5 are level.
4 variables separate them by 3 points or more. PENDLE is clear on Real Staking Yield (7 against 3). UNI is clear on Revenue Trend (7 against 3), Active Users (8 against 4) and Regulatory Safety (9 against 6).
UNI is valued at $4.91B against $391.5M for PENDLE, a 12.5x difference. The larger of the two also scores higher, so the market and the framework agree on the ordering here.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 6 | 4 | PENDLE +2 | |
| Revenue Trend | 3 | 7 | UNI +4 | |
| P/S Multiple | 5 | 3 | PENDLE +2 | |
| Real Staking Yield | 7 | 3 | PENDLE +4 |
Supply
| Supply Inflation | 8 | 7 | PENDLE +1 | |
| Vesting Schedule | 9 | 9 | level | |
| Circulating / FDV Ratio | 6 | 8 | UNI +2 | |
| Buyback and Burn | 9 | 7 | PENDLE +2 |
Ownership
| Smart Money Flows | 6 | 7 | UNI +1 | |
| Insider Selling | 4 | 4 | level | |
| Holder Concentration | 5 | 5 | level |
Traction
| TVL Trend | 4 | 6 | UNI +2 | |
| Active Users | 4 | 8 | UNI +4 | |
| Developer Activity | 6 | 8 | UNI +2 | |
| Network Growth | 7 | 8 | UNI +1 |
Position
| Market Share | 9 | 8 | PENDLE +1 | |
| Competitive Moat | 9 | 7 | PENDLE +2 | |
| Institutional Adoption | 9 | 8 | PENDLE +1 | |
| Exchange Depth | 7 | 8 | UNI +1 | |
| Social Mindshare | 5 | 7 | UNI +2 |
Risk
| Regulatory Safety | 6 | 9 | UNI +3 | |
| Catalyst Calendar | 8 | 8 | level | |
| BTC Alpha Potential | 3 | 4 | UNI +1 | |
| Team Execution | 8 | 7 | PENDLE +1 | |
| Treasury Runway | 7 | 7 | level |
Bars read outward from the centre: PENDLE to the left, UNI to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| PENDLE | UNI | |
|---|---|---|
| Price | $2.25 | $7.84 |
| Market cap | $391.5M | $4.91B |
| Circulating | 61.7% | 62.5% |
| Dilution to full supply | 1.62x | 1.6x |
| Off all-time high | -70% | -82.5% |
| To recover the high | 3.3x | 5.7x |
| Total value locked | $1.17B | $2.77B |
| Network | Ethereum | Ethereum |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
PENDLE · HOLD
Solana/Hyperliquid/TON chain expansion, Fortune 2026 list, Vietnam IFC delegation, 21Shares ETP (APEN) on SIX, Boros funding rate scaling, KYC Citadels + Shariah, one-click leveraged PTs, RWA $151M growing
Revenue collapsed 87.6% from peak ($4.44M/mo→$552K/mo). TVL -91% from $13.4B. No max supply cap (perpetual 2% inflation). Team holds 15% circ (25.59M), consistently selling ($9.76M cumulative). Ethena 50-75% TVL concentration. Hayes partially exited.
UNI · HOLD
Bitwise spot UNI ETF (pending SEC), fee switch expansion to 11+ chains, BlackRock BUIDL integration + UNI purchases, Unichain UVN validators, V4 hooks marketplace, SEC safe harbor (5yr), CLARITY Act advancing
P/S 57-73x on actual protocol revenue ($26-61M not $1B), net inflationary +1.43%/yr (20M growth budget > 4.4M burns), $200M+ insider/VC selling in 2025, top 10 holders control 50.81%, Fluid took 55% stablecoin DEX share, aggregators route 50%+ of ETH volume
Common questions
- Is PENDLE or UNI the better investment?
- On this framework UNI scores higher: 167 against 160 of 250, and it is rated HOLD against HOLD. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and PENDLE still wins 9 of the 25 individual variables against UNI.
- What is the biggest difference between PENDLE and UNI?
- Revenue Trend. PENDLE scores 3 of 10 there and UNI scores 7, a gap of 4 points on a single variable.
- Which is bigger, PENDLE or UNI?
- PENDLE is valued at $391.5M and UNI at $4.91B on the latest market snapshot.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.