Hey BOZO small correction: I am using SY ratio-adjusted figures for the 9.31% APY
> 60x Sats * 58.45% (SY Ratio) = 9.31% APY
> 60x Sats = 15.92% APY
Using akshual ENA/USD spot price (0.69) this is:
> 60x Sats = 21.97% APY
> 1x Sat = 0.367% APY
NFA NLA NMA MDMA etc
Pendle
Regarding YT-tUSDe
Fresh calcs are out from @PendleIntern valuing 60x Ethena Sats at 9.31% APR (at a conservative $0.5 $ENA price)
That would be 12.84% APR at the current price of $0.69 $ENA
YT-tUSDe is currently trading at 15.12% Implied Yield,
And gives 50x Sats and 60x Terminal points
Value of 50x Sats = 12.84*50/60 = 10.7% APR
Implied Yield YT-tUSDe = 15.12% APR
This means that we would estimate to get 70% of our YT investment back in $ENA airdrop
It also means that the implied yield of 60x Terminal points are 4.42% APR, which i think sounds ridiculously low
Do you really think that @Terminal_fi airdrop will yield only 4.42% APR?
If you think more, buy @pendle_fi YTs
If you think less, buy PTs so i can get more cheap YTs
Note: YTs with no underlying yield (only points) expires worthless, and there's always a risk that the yield doesn't hit the estimates by the pendiddler. You are basically buying points and betting on future airdrop values. NFA, but i'm a degenerate gambler and own a lot of YTs, and bought even more while calculating this
DeFi Magic
Pendle
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