#USUAL走势分析
Yesterday, some friends were asking about YT and PT related to $PENDLE . I believe many friends may not have encountered this before, so today I will explain it in the simplest way possible for everyone. Of course, if you find it helpful, please give me a follow, like, and share. This would greatly motivate me to continue serving you all.
First, we need to understand
What are YT and PT.
1. Let's talk about PT first. Suppose today the market is selling an apple for $1.2, but I agree to sell it to you for $1.00 now, with the condition that you have to wait 50 days to receive the apple. After 50 days, if you receive the apple without any price fluctuation, you will earn the price difference in between. (Fixed income)
2. For YT, we express it as, I want to plant apples today, but I don't have a place, so I can only rent someone else's space. I rented from the landlord for 50 days, with a cost of 50 apples. However, the landlord tells me that within these 50 days, I could grow 100 apples, but there are many variables during these 50 days, so no one can guarantee that I will definitely grow 100 apples. YT is about taking the risk; as long as I exceed 50 apples by the due date, I will earn.
Next, let's look at the current price of $USUAL on Pendle. As shown in image one, if we buy PT and wait until maturity, we can get back 1.42 of $USUAL . Now looking at image two, we can see that currently, one usual can be exchanged for 4.5 usual returns. But note that when the maturity comes, your 1 usual (cost) will disappear, so we are hoping that this 4.5 usual will convert back to more than 1 usual at maturity. The excess part will be your profit.
Today, I have simply brought this to friends who have not encountered it before for better understanding. If the response is good, I will gradually write more advanced parts for everyone's reference. If there are any experts among my friends, feel free to leave comments for discussion.