Ena's spiral mechanism

After a large amount of hedging

The negative funding rate remains high. I spent two days studying this pledge mechanism

1:1 market value can maximize sats: To accelerate USDe, stable B originally only has 20 sats, which can be accelerated to 2.2 20*2.2=44 Wallet pledges 20% annualized 44%

This is the highest way to get sats. According to the current price, if airdrops are issued

The annualized rate may be 20%. Many people's Ena pledged in are borrowed

Or hedging is pledged, resulting in no B to borrow, or the annualized rate is too high, and there is a long-term negative funding rate. The last two days were as high as 100 years of annualized funding rate

If you just want to eat the increase and take the airdrop, it is the most cost-effective to directly exchange the spot for 1x*long, and settle the income in 4 hours

If you eat stable income, pendle pt should be fine to eat 30%, provided that the current B price is more than 20 stable, plus susde's 8.6