The pt-usde deposits that I wanted to grab before have still not been fully deposited after two days. Many people are not moving their positions for September. I calculated that the ena distribution rewards for the next year for yt-usde will be about 7.5%. The current borrowing cost is around 7%, so the returns for loop users are too low. (Algorithm attached at the end) There’s nothing we can do; ethena's TVL has surged to 15 billion, with too much meat and too little porridge. Fortunately, this deposit is relatively easy to exit; I can deposit first and wait for the plan to be announced. If the s5 rewards have a distribution of over 3.5%, there will still be some benefits. If not, compared to other competitors and the expected rewards from various new perps, it might not be enough. Here’s my rough calculation of the s5 rewards (calculated annually): Points currently grow by 0.6t daily, totaling 0.6*360=216t for the next year. Considering some funds will exit, the total for next...
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