the structural edge everyone missed in pendle stablecoin yields most people buying treasury bills at 4.5% have no idea they could lock 20.71% fixed yield with similar risk mechanics. pt-âtvusdc on @pendle_fi has been sitting there for sometime, pricing in returns that make traditional finance look broken. the mechanics here are not complicated, but they are powerful. @aarnasays built âtvusdc as a usdc aggregator that routes capital through aave, morpho, and eigenlayer strategies. basic floating yields hit 12-20% already. but when you tokenize this on pendle, you split it into pt (principal token) and yt (yield token). the pt gives you fixed yield locked in at purchase. right now, with 56 days to maturity on november 12, pt-âtvusdc is pricing in 20.71% apy. this is not theoretical. this is the implied rate baked into the discount you pay when buying the token. you are purchasing 1 usdc at maturity for roughly 97 cents today. the comparison reveals the structural advantage....
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