USDai by @USDai_Official currently trading at $1.05, below Stephen's line in the sand for the trade becoming unprofitable. Meanwhile, PT-sUSDai expires in 44 days with 51% APY fixed yield to lock in: 🫡 @pendle_fi
"At what price of USDai does it become fully unprofitable to enter into the PT?" Assuming we repeg by maturity, the math is pretty simple. ROI over 45 days at 50% = 45/365 * 50% = 6% 1 - 6% = 0.94 1 / 0.94 = $1.065 At 1.065, you would be in the red if it repegs.
👋 For those wanting added protection in this PT yield, @NexusMutual offers depeg cover for USDai and the PT-USDai is covered as well at 1.5% APY premium. 🤔 So for $100k of USDai backing a PT position expiring in November, it costs $129. 🐢
@NexusMutual Correction: Above was for 30 days, for the next 45 days you'd pay... $194 USDC.
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