Opened a long position in Pendle, simply sharing the logic.

Pendle came into the public eye during the last round of ETH re-staking, and later became a significant player in USDE and BTCfi. Who doesn't like stable returns for large investors?

Pendle's core competitiveness lies in fixed income wealth management, and the corresponding hedging method relies on speculators holding YT tokens. In theory, any income-generating asset can be played on Pendle, which opens up a vast imagination, especially for RWA, US Treasury token, and USDE token. From the TVL below, it can be seen that over 50% is USDE, with WBTC being the second largest. These two foundations are still very stable.

So why has it dropped so much since July 1st? The main reason is that USD0 exploded, and yields have dropped significantly, leading to a substantial decrease in trading volume and TVL. However, once it stabilizes, there will be a continuous stream of new projects entering, just like the recently launched trading pairs on Bear Chain, which have also seen high demand.

For Pendle, it is essentially an exchange; the failure of one or two projects does not affect its fundamentals. We can only enter the market when it makes mistakes. This round has seen a significant drop from the peak, and the cost-effectiveness has emerged, so we firmly bought the dip!
$PENDLE #加密市场反弹

Today I will share a copycat JUP.

This coin has a big pattern. It was airdropped on Sol in January 24, making many people rich. As for products, it is mainly an aggregated exchange, and the experience is the best, but TVL is not its own, so the valuation given by 1inch in the past is not high. But this story did not happen on JUP. JUP focuses on community and governance, and has given large rewards for voting. Even every retail investor has his own voting rights and does not need to be delegated.

He made up for the shortcomings of TVL by developing JLP Perp. Now he has almost the depth of the on-chain contract market, and the transaction fee rate is very low, almost dominating the transaction volume of the three major coins on the Sol chain.

Next, JUP will focus on the development of wallet business. With more and more local dogs today, if this sector is done well, it can compete with GMGN. Let's wait and see. JUP avoided competing with Ray for spot shares and walked out of its own way, which is quite efficient in terms of resources. This airdrop provides an opportunity to build a position. Buy on dips, hodl!

The picture shows the Wen Cat NFT I won last year. JUP is my lucky item!
$JUP

$SOL