$USUAL As expected, Binance will drop as soon as it opens, and Gate has already made a short arbitrage in advance. This wave has already risen by a small 30%. Gate must mint at a price of 1u, which has reduced the utilization rate of the principal.

BTW, Gate's price has always been higher than Binance, which can also be arbitraged.

It is estimated that there will be a drop when the official TGE occurs.

In terms of market capitalization comparison, isn’t everyone looking at MKR? Are they only looking at ENA? Shouldn't the RWA stablecoin be focusing on MakerDAO? Ethena doesn’t really count as RWA; it’s just a funding rate arbitrage model.