Earning yield from $158,957 with $10,000? That's yesterday's news.
This Pendle user just one-upped by spending less, earning more ๐ฅ
With just $9,880, 0x733 is now earning yield from $182,400, leveraging capital 18x with no liquidation risks.
Here's how ๐งต
This Pendle user just one-upped by spending less, earning more ๐ฅ
With just $9,880, 0x733 is now earning yield from $182,400, leveraging capital 18x with no liquidation risks.
Here's how ๐งต
But first, if you need a refresher on what happened previously with another earlier user, here's the thread ๐๐ป
Yesterday, the Implied Yield for @StargateFinance USDT on Arbitrum broke below the previous ATL to 4.16%, which essentially means that the price of YT was the cheapest it has been.
Noticing this, 0x733 swooped in for the opportunity.
Noticing this, 0x733 swooped in for the opportunity.
With 9,879 $USDC, the user initiated a transaction to purchase 182,400 YT-USDT, essentially buying the rights to collect all the yield generated by 182,400 @StargateFinance USDT
๐arbiscan.io
๐arbiscan.io
If the Underlying APY remains at the current level (5.72% APY), the user is on track to earn ~$2,849 in profit, more so if Stargate USDT yield goes up.
Annualized, that's 22.9% APY - not bad for a stablecoin position.
Annualized, that's 22.9% APY - not bad for a stablecoin position.
And that's not all!
As it appears, this Pendle user is also a practitioner of the "free money arts", courtesy of @Flashstake and yours truly.
If you're in need of a refresher, here's the strategy by yield master @gabavineb ๐๐ป
As it appears, this Pendle user is also a practitioner of the "free money arts", courtesy of @Flashstake and yours truly.
If you're in need of a refresher, here's the strategy by yield master @gabavineb ๐๐ป
TL;DR of what the user did:
1๏ธโฃ Flashstaked 21,210 $GLP on @Flashstake for 6,155 $USDC upfront
2๏ธโฃ Purchased 39,231 YT-GLP with 7,065 $USDC on Pendle
1๏ธโฃ Flashstaked 21,210 $GLP on @Flashstake for 6,155 $USDC upfront
2๏ธโฃ Purchased 39,231 YT-GLP with 7,065 $USDC on Pendle
Doing so lets the user essentially earn extra yield for free (plus a little top-up in the YT purchase), getting 39,231 GLP's yield instead of just 21,210 GLP ๐ฅ
With Pendle, you have the tools on hand to control and manipulate yield - hedging, leveraged exposure, optimization, yield stacking... you add the element of #DeFi composability in there and possibilities become endless, even more powerful
You just have to start looking ๐
You just have to start looking ๐
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