RECALCULATE SPARK AIRDROP FOR PENDLE POINT FARMING
With Spark's TGE yesterday, the time has come to recalculate your point farming strategy on @pendle_fi - with real numbers.
Although the point program won’t be included in the initial airdrop, we now have a breakdown of @sparkdotfi’s token distribution, which helps us zero in on Pendle’s share more accurately.
Let’s break it down👇
🧾What we know so far:
🔹Total SPK supply: 10B
🔹Sky farming has not been activated, with an allocation of 6.5B
🔹Initial supply is 1.7B (not including Point Farming from Pendle), which is from the Ecosystem category
🔹Remaining for Ecosystem category: 600M (a portion of this likely goes to Pendle campaign)
⚠️Important: Sky farming will be in its separate category, which means it doesn't include point farming or pre-farming, as the allocation for point farming or pre-farming will fall under the ecosystem category.
Additionally, SPK Staking went live on June 17th with a 3x multiplier. Currently, ~25.91M SPK have been staked.
Assume the maximum SPK staked will be around 100M. With a deadline of August 17th, the total points for SPK Staking are shown below.
Currently, we have the metric for Pendle:
🔹Total points: 146,961,446,627
🔹TVL of USDS pools on Pendle: ~$385.2M
With the projection scenarios for each TVL level, we have the metrics as shown in the figure.
Correspondingly, we will have the total farm points from SPK staking as well as from Pendle farming.
🧮 Recalculating ROI for YT strategy on Pendle
Let's walk through a simulation:
🔹YT price: 0.007088
🔹Capital invested: $1,000
🔹YT acquired: 141,083
🔹Farming duration left: 56 days
🔹Points multiplier: 25x
🔹Maturity date: August 14th
Assume the airdrop allocation for Pendle is around 16.67% of the Ecosystem allocation (1% total supply). We will have ROI breakdown for each End TVL scenario.
With the current Spark FDV at $500M, the BE for this strategy will be at $750M TVL.
With YT-USDS at ~4.8% Implied APY, the yield breakdown will show as below.
📌Conclusion
If Spark maintains a decent FDV and Pendle captures even a modest allocation. Pendle’s Point Farming still has a real upside.
⚠️Note: Estimates are speculative, NFA NBA NLA
Link to the sheet:
Tagging Pendle's chads and fellows:
@tn_pendle
@Rightsideonly
@PendleIntern
@hzl123331
@Jonasoeth
@crypto_linn
@quant_sheep
@LisaFlorentina8
@0xCheeezzyyyy
@Milk_Trudge
@NaveenCypto
@DeFi_Perryy
@Alvin0617
@YashasEdu
@belizardd
@chutoro_au
@kenodnb
@leo_escobar_
@NewPaguinfo
@JasonvuTech
@EthereumThaila1
@TheDeFinvestor
@TheDefiDog
@0xAndrewMoh
@monosarin
@ViNc2453
@imkenchia
@eli5_defi
@Nomaticcap
@PhenVentures
@mattdotfi
@0xgilllee
@heyjxck_
@thelearningpill
@KazumaxCrypto
@pendle_grandma
@DaoChemist
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