Imagine borrowing at 8% and locking 18% risk-free for 6 months. That’s not “investing.” That’s printing yield if you can stomach the wait. This is what Solstice is doing on Solana. Solstice’s eUSX has a fixed-rate PT on Exponent (PT-eUSX). Kamino lets you loop PT-eUSX: deposit it, borrow USX cheaper, buy more PT-eUSX, repeat. Is there demand? Yes! USX supply on Kamino just past $11M and is bumping into caps. Supplying USX there gets you a lending yield, 50k USX in monthly rewards, plus 5× Flares. A clean way for you to participate without looping if they don’t want to. Simple flow I’m seeing people run: ◾Swap stables → eUSX → PT-eUSX on Exponent (fixed rate). ◾Deposit PT-eUSX on Kamino, borrow USX. ◾Rebuy PT-eUSX, redeposit. Stop at a sane LTV. Where it breaks & some risks to manage: ◾If borrowed APY jumps above your fixed PT APY. ◾If you can’t hold PT to maturity (price can move). ◾Any stable/venue risk across USX/eUSX, Exponent & Kamino. If you’re not looping, just supplying USX on Kamino is the low-maintenance path with the Flares boost. If you are looping, size it so a rate spike or volatility doesn’t force you out early. Glad to partner with @solsticefi on this one to unpack how to play on this strategy.