Stablecoin pairs have an APR of over 60% or even 300%? Mine was the riddle from the other day when it was the Riddler, an APT-kAPT trading pair from Hyperion. Take this opportunity to dish on Hyperion's APR flywheel logic: why the APR is so high! ➤ The following information is from Hyperion officials: 1) No TGE yet (rumor has it June/July); 2) A points/air drop program has been opened up, and the core of APR's flywheel is in the way points are earned; 3) One of the core rules: 5 points per $100 per day for LPs offered and within the valid range; 4) Core Rule No. 2: For every $0.01 you spend on transaction fees, you earn 1 point; ➤ Logical grooming: 1) Points have airdrops expected because they are not TGE; 2) Assume that the cost of funds is $100 and the time cost is 20 days to earn 100 points by providing liquidity; 3) Assuming, for example, that you want to get 100 points, the cost of trading is only $1, and the cost of time is almost zero; 4) So what's the quickest way to get points with the least amount of attrition? 5) Of course, choose to trade pairs with relatively stable prices and sufficient liquidity, such as USDt-USDC and APT-kAPT; 6) Then, from a purely mathematical calculation, both USDt-USDC and APT-kAPT have a fee rating of 0.01%, and to get 100 points, you need to consume $1; 7) Also due to the fastest way to gain points for airdrop anticipation and swiping volume, which brings enough volume to several stable pairs, indirectly making the gains from providing liquidity significant, (USDt-USDC APR has remained above 20% for a long time, and has dropped a bit recently, probably due to the rise of APT-kAPT); The simple logic of the above allowed Hyperion to develop an APR flywheel that exceeded expectations! But is it over? Not really! There's no denying that utilizing airdrop expectations to attract users is the most common way for Web3 to do this, and an effective means of making a project successful. For example, @KaitoAI, before TGE, used 1 cent $100 to get KOLs all over the internet to write articles for him in hopes of winning future airdrops, and Kaito has thus achieved a monopoly on attention, and even its current core remains the same, except that the airdrops are expected to be given by its partners. Although, no one is currently predicting how much Hyperion's points are worth, what is known is that the cost of points earned through trading is 1 point $0.01. So why are people willing to get these points? Much of this is because @Aptos needs a turnaround to regain lost hearts and minds, and @hyperion_xyz, as the backbone of Aptos at the moment, is in the best position to do so. If I were to think of the best way to win hearts and minds, it would be -- a big air drop! In addition to the underlying logic of the APR flywheel airdrop, Hyperion has also provided many incentives for a lot of liquidity, in addition to the official incentives, but also in other third-party activities, such as @okxchinese's coin-earning activities, as well as liquidity subsidies for xBTC! So, do you think Hyperion points will be less than $0.01? Addendum: Logic and understanding of the APT-kAPT token pair child: