digitalego

Someone asked, what do you think is driving this? This is obvious - the rise of Fixed Yield as a vertical in DeFi. Out of this, about ~$4.88B is in PTs. Of that, ~$3.87B is currently deployed as collateral in money markets like @aave @MorphoLabs @eulerfinance and fine I guess I'll toss him a bone too, @SiloFinance This implication goes far beyond just Pendle. The growth of Fixed Yield in this space is precisely what we need to advance DeFi to the Golden Age. One only has to look at TradFi to know that stability breeds scale. There's a reason why fixed income instruments like US Treasuries, corporate bonds, and structured notes dominate TradFi with over friggin $130 TRILLION in global market size. Now DeFi finally has its version. DeFi Fixed Yield, PT Fixed Yield, this is the key to the pockets of those institutions that we've been trying so hard to woo. I've said it once and I'll say it again. CCC junk bonds with super high risk of default issued by companies clinging desperately to life yield LESS than what Ethena PTs are offering. If these institutions and hedge funds and family offices could sprinkle in junks here and there for diversification's sake, then surely SURELY the blue chip yields of DeFi are worth at least a glance from them in the name of risk-adjusted returns? But back to the topic at hand. We're witnessing a paradigm shift in DeFi here. From rotating mercenary capital every 3 hours to chase after 6 digit APYs in random food farms during the height of DeFi summer, to whales and institutions deploying capital at scale into double digit PTs no longer for wild upsides akin to an all-in on GREEN in roulette, but for sustainable wealth preservation and growth. Monetarily, it’s a turning point. But more importantly, we’re maturing as a space culturally. This ladies and gents, is what it takes to defeat the "shitcoin casino" stigma of crypto. This is what it takes for the masses, your uncles, grandma, pop pop and that stuck up aunty part-timing as a receptionist in McKinsey to stop turning their nose up and start sticking their nose into the sweaty depths of DeFi in the hopes of outperforming their measly 3% APR term deposits LOL. And Pendle, being synonymous with fixed yield, the father of fixed yield, will be the first thing they lay their tearful, grateful eyes upon. PENDLE.