Recently, I noticed that the YT (yield token) gameplay of stNUSD on Pendle is quite interesting.



The annualized rate of the neutral strategy given in the OTC market can reach 16-20%, and it also comes with a 25-fold point bonus. Now YT is priced at around 18%, which means that the market is valuing the 25 times points - about 5% annualized.

Calculated, if the income can be stabilized, this profit-loss ratio is quite cost-effective. However, the key is to keep an eye on whether the real yield fluctuates, after all, expectations are one thing, and real performance is another.
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