I have listed my September-maturity sUSDf YT @FalconStable on @pendle_fi for sale and switched to placing buy orders for January-maturity sUSDf YT 🔷 My reasoning is as follows: In the early stage, the ratio of accumulated points to the loss in YT asset value is significantly higher than it will be later. Over the next few days, as the September pool approaches maturity, the “end-of-life YT effect” will gradually emerge, and the implied APY is expected to keep climbing. Shifting funds into a longer-dated pool at this point offers much better cost-effectiveness. 🔷 Key reasons: 1. Based on prior stablecoin projects, Falcon may eventually impose specific requirements on sUSDf holdings. YT is a cost-efficient way to meet such requirements. 2. YT assets that deliver high yields in the first TGE season often spark market FOMO in the second season. For example, Etherfi’s implied APY surged in S2, and Ethena’s Pendle pools in S2 launched with an astonishing implied APY above 300%. 🔺 NFA...
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