> For the complete documentation index, see [llms.txt](https://docs.penpiexyz.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.penpiexyz.io/penpie-maximizing-benefits/decrease-pendle-circulating-supply.md).

# Decrease PENDLE circulating supply

When users convert their PENDLE tokens into mPENDLE, Penpie automatically locks all the converted PENDLE as vePENDLE on Pendle Finance while users get mPENDLE. This mechanism decreases PENDLE sell pressure in the long term.