Users can lock their PNP tokens on Penpie to receive vlPNP at a 1:1 ratio. vlPNP is the locked version of the PNP token. Vote-Locked PNP, also known as vlPNP, enables PNP holders to earn rewards for their active user engagement and share governance benefits on Pendle Finance & Penpie.
The voting power that Penpie accumulates by holding vePENDLE is distributed among vlPNP holders, allowing them to participate in Pendle Finance's governance cost-effectively.
