FluWhaleYo
1.8K posts
You have to think of markets in terms of a pendulum. It swings from high, to low over a large period of time. The pendulum is just the momentum of it. You can often feel the shift as momentum stalls, and the pendulum begins to swing the other way and the momentum shifts again
There are times where you will see me not take trades for months, or very few trades like in crypto for the better part of the last year now having been more equities focused
It's all at the end of the day some form of human psychology right. The cycle is just greed to fear and fear to greed over and over. I know my strengths and weaknesses. Being in a trade every day isn't one of them. So I try to avoid the chop and wait for those signals. A balance of offense and defense. and putting yourself in a good position to win. not forcing things that aren't there
Right now there's a lot of greed in AI, and a lot to support that. Bc this time, it's real. Whether it's government spending, future cost of buildouts etc. Money printing, it's all pretty supportive of that. So I think any big dip given is a huge gift if you've not ridden that momentum. A good strategy from here is probably bitcoin:native as it's likely to swing back the other way. And some ai stocks on any decent dips. So I will try to cover both of these from here on. BTC + equities
English
FluWhaleYo retweetledi
FluWhaleYo retweetledi
Welcoming another RWA addition - loAZND.
Institutionally managed credit from the Asia Pacific region, backed by a diversified portfolio of USD-denominated fixed income instruments
Managed by Mu Digital in partnership with Golden Hill Asset Management, a Singapore-regulated fund manager.
Mu Digital@MuDigitalHQ
Mu Digital × @Pendle_fi Institutional grade Asia credit is now live on Pendle. 🔹 Provide liquidity to LP-loAZND Earn base yield + trading fees. Currently ~13% APY 🔹 Lock in PT-loAZND for fixed yield ~8% fixed APY, redeemable 1:1 as AZND staked in Mu Digital at maturity 🔹 Go with YT-loAZND for yield + points upside Currently ~6.95% APY on-chain yield, plus 40 loAZND Points through maturity Real world yield. Flexible exposure. 🔗 Enter the pool here: app.pendle.finance/trade/pools/0x…
English
FluWhaleYo retweetledi
FluWhaleYo retweetledi
@Nomaticcap @pendle_fi @pendle_grandma @saturn_credit @_whalebird @PendleIntern @0xanonnnn Hehe yw. Most of the time it is just a temporary thing and it recovers quite fast, so you won’t be hurt by it too badly. (Or even notice it 🙃)
English
@FluWhaleYo @pendle_fi @pendle_grandma @saturn_credit @_whalebird @PendleIntern @0xanonnnn Appreciate you this is perfect. Also funny I didn't know this when rlp was one of my fav YTs ever lol
English
最近很多小伙伴询问 @saturn_credit 的独特设计下，Pendle sUSDat PT和YT在各种情况下的收益机制是什么。
譬如说最近除息期间， YT-sUSDat 的收益暂停，因为 4 月 14 日 STRC 除息，导致 sUSDat 的汇率掉到Watermark「水位线」下面。只要 STRC 涨回 $100 （rate完全恢复而且STRC的分配收益率不变，Saturn规则也不改变），Watermark就自动抓回来，收益继续累积，而且YT仔之前少掉的全部会补回来。
📍到底是怎么回事？
sUSDat 是一种「会生利息」的资产，它的汇率（1 个 sUSDat 可以换多少 USDat）同时受两个东西影响：
- 它自己每天累积的收益
- STRC 这支股票的价格
这两个东西加在一起，才决定汇率会涨还是跌。
🍎拿 wstETH 来比：
wstETH 的汇率永远只往上爬，因为它只跟累积的质押奖励有关，不会往下掉。
但 sUSDat 不一样，当 STRC 股价低于 $100 以下（比如这次除息），汇率就有可能往下掉，这就是为什么需要「Watermark」这个机制。
🤽♀️Watermark水位线是什么？
就是 sUSDat:USDat 历史上曾经到过的最高汇率。
一旦汇率低于这个最高点，YT-sUSDat 就暂停累积收益（保护机制）。
🛑那暂停期间怎么办？
只要 STRC 之后涨回 $100，Watermark就会被重新抓到：
收益立刻继续累积
而且之前暂停期间「少掉」的收益，也会一次补给你！最后你拿到的总收益，跟没发生除息、没掉Watermark的情况一样。
❗️❗️❗️不过有一个重点：
这一切都要建立在 STRC 真的回到 $100 才行。
现在这次掉汇率，就是因为 4 月 14 日 STRC 正常除息（所有分红股都会发生），不是什么大问题。如果 STRC 之后一直卡在 $100 以下，汇率也一直低于Watermark，那 YT 的收益就会继续暂停。
📍简单来说：
除息日期间只是「暂停」，不是「没收」。
只要 STRC 回 $100，你就不会少收益，反而最后全部补齐！
📍换而言之：
- 只要PT和YT一直持有不卖出的话，到期时，只要底层恢复正常（exchange rate above watermark rate），PT就会拿到fixed APR的收益，YT正常拿到底息和积分；但如果底层出了问题，两边都会亏损，底息会优先补贴PT；
- 如果整体价值一直稳固攀升，PT和 YT玩家可能获得超额收益，但这个premier是来自二级的sUSDat/USDat exchange rate，而不是来自于PT和YT的互相博弈。
- Pendle sUSDat 池子会在8月27日到期，所以8月中旬到期前会有最后一次除息期间，临期池子的交易就个人自己斟酌想走什么策略了喔。
📍本文旨在理性解释机制，不是投资建议喔。
如果想要尝试STRC系列的孩纸们还请多多做好自己的风控和投研考察。
中文
@Nomaticcap @pendle_fi @pendle_grandma @saturn_credit @_whalebird @PendleIntern @0xanonnnn See this ‘oldie’
Pendle Intern@PendleIntern
Some of you might’ve seen this lil’ warning pop up on @pendle_fi markets about “negative yield”... Yes, the yields look juicy. Yes, they 𝑢𝑠𝑢𝑎𝑙𝑙𝑦 print. But as "unlikely" as they are, negative yield can happen, and you should know exactly what you're signing up for 👇
English
English
FluWhaleYo retweetledi
Push for new integrations
Push for new Pendle pools
Push for new narratives (STRC and RWA)
Push for new funding rate markets (Oil markets)
Push for new distribution
Push for improved UX (PT bridging)
Now push for new Docs
PendleV2 and Boros Docs just got an omega upgrade
English
FluWhaleYo retweetledi
I’m starting to get early vibes of restaking/LRT wars back in 2024…except this time it’s STRC wars with @saturn_credit and @apyx_fi. Volumes have been crazy on these two markets despite being nascent pools.
Pendle is one of the most dynamic and omni-meta protocols in the space. LST/LRT, yield stables, BTCfi, L1/L2 predeposit vaults, and now RWAs with Tbill and STRC exposure, there isn’t a single meta that Pendle hasn’t been able to fully tap on.
If you knew how much value Pendle created in the restaking days, it’s definitely worth keeping watch on it right now. IYKYK
DeFi Dad ⟠ defidad.eth@DeFi_Dad
There's now almost $200M in tokenized $STRC on Ethereum, and close to $100M trading on @pendle_fi. We can lock in a fixed yield with @apyx_fi and @saturn_credit by swapping for these PTs on Pendle: PT-USDat = 7.85% for 134 days PT-sUSDat = 13.05% for 134 days PT-apxUSD = 14.39% for 64 days PT-apyUSD = 14% for 64 days 🔗 app.pendle.finance/trade/markets?… Reminder: Unless YT bidding goes sky high shortly after buying a PT, these PTs should gradually and steadily appreciate in price through maturity, meaning most days anyone can easily swap out of PTs before maturity without losing money. But, there is always a chance a surge in YT buying or someone dumps a ton of PTs and in that case, the PT holder would be smart to hold longer and potentially until maturity to exit in profits.
English
FluWhaleYo retweetledi
Institutional-grade yield strategies now have a fixed rate layer.
3 new @EmberProtocol vaults, spanning RWA private credit and delta-neutral stablecoin strategies, are live on Pendle:
• eACRED (2 Jul 2026)
• eEARN (2 Jul 2026)
• eTHIRD (2 Jul 2026)
English
FluWhaleYo retweetledi
Have been working with the team at @saturn_credit to make this happen over the past few months. @kevinlhr88 and @ellisp_osborn are some of the most ambitious and knowledgable guys in the space.
sUSDat will likely trade above STRC’s underlying yield as well from additional tbill yield funneled from USDat’s backing. I’m quite certain this will be a really popular market to trade on @pendle_fi especially with the high yields and gravity points.
To t̶h̶e̶ ̶m̶o̶o̶n̶ Saturn! 🪐
Pendle@pendle_fi
Introducing @saturn_credit, Pendle's latest RWA listing: 🪐 USDat (27 Aug 2026) 🪐 sUSDat(27 Aug 2026) Saturn packages @Strategy's STRC dividend yield into a stablecoin. With Pendle, users can now fix that yield or take a directional view on where STRC-backed rates are heading
English
FluWhaleYo retweetledi
➥ Be $PENDLE
@pendle_fi holds ~50-60% DeFi yield trading market share - 98.5% in yield tokenization for years while everything else fights for scraps
- $1.73B TVL currently, still #1 in the entire yield category
- cumulative DEX volume now over $53B all-time
- generated ~$44.6M fees in 2025; holders rev hitting ~$34.9M
- still printing ~$6.8M annualized rev even in the softer macro
- sPENDLE accounts up to 80% of protocol rev now funneled straight into open-market PENDLE buybacks
- sPENDLE delivering ~15% buyback yield at current ~$180M mcap
- @boros_fi platform tokenizing perpetual futures funding rates
- it's already pulling hundreds of millions in OI as the go-to infra for onchain rates and RWA perps
- expanded across Ethereum, Plasma, Arbitrum and new chains
- @aave V4 just launched with native Pendle PTs baked in + deep control of 30-60% of multiple RWA stablecoin supplies across the board
- slashing emissions 20-30% and moving from rigid vePENDLE locks to liquid sPENDLE for way better holder retention
suddenly you have institutions, RWA issuers, stablecoin teams, and DeFi builders routing serious fixed-yield volume and real-world capital through Pendle
the protocol keeps expanding its surface area without heavy incentives
@pendle_fi is becoming the onchain fixed-income layer that survives cycles and pulls in real-world capital imo
English
FluWhaleYo retweetledi
Brutal markets, everyone's focusing on macro, but PENDLE keeps on PENDLING and oho are the yields tasty:
Le Highlighteroonies:
- Current accomplishments of 2026 Pendle roadmap x.com/pendle_fi/stat…
- PT crosschain is live x.com/BungeeExchange…
- Limit Order incentives available on all pools x.com/pendle_fi/stat…
- Pendle Q1 Report now available on VIP board x.com/pendle_fi/stat…
- PT-Strata upcoming listing on AaveV4 app.aave.com/governance/v3/…
TASTY on Pendle now:
- [ETH] PT-apxUSD 18-JUN 14.84% (loopable on Morpho)
- [ETH] PT-reUSDe 25-JUN 13.98% (loopable on TermMax)
- [ETH] PT-USDG 28-MAY 5.11% (loopable on Morpho)
Le Pendle Print #108 x.com/pendle_fi/stat…
Bungee 🕵️@BungeeExchange
Pendle PTs lived on 15 chains. Now they live in one deep pool on Ethereum. Access PTs from any chain. Any token. Deepest liquidity. @pendle_fi powered by @BungeeExchange.
English
FluWhaleYo retweetledi
Pendle did more in Q1 2016 than most projects do in 2 years (if they survive that long)
One of the hardest working, credible, security focused, chad teams in the space
Pendle@pendle_fi
3 weeks after we shared the big, scary mindmap and already our little Pendle elves have ticked off a huge portion of it, including: ✅ Pendle MCP + Skills ✅ Pendle VIP Board ✅ LO Incentives ✅ Universal PT swap and more... What we did in Q1 2026 👇🏻🧵
English
@crypto_linn It immediately sounds like a lifestyle.
Pendoru - the art of capturing yield opportunities.
English
FluWhaleYo retweetledi
Pendle PTs lived on 15 chains.
Now they live in one deep pool on Ethereum.
Access PTs from any chain. Any token. Deepest liquidity.
@pendle_fi powered by @BungeeExchange.
English