Real estate has a new look on @BNBCHAIN with @asx_capital. Invest in real estate backed tokens to earn automated monthly cashflow from real-yield earning assets. Swap today to earn 💸 🔗

How to understand 'real' yield trading - not just points farming Using @solsticefi eUSX on @ExponentFinance as an example Chapters 0:00 Intro 0:38 Brief on Farm (YT) and Income (PT) Positions 1:00 Understanding Implied APY 2:00 Implied APY Fluctuations 2:22 eUSX's Unique Case & Delta-Neutral Strategy 4:58 My Positioning on YT-eUSX 5:47 Closing Recap

Below is a longer view of real yields vs real potential GDP growth and R-Star. For the ever-rising debt burden to remain sustainable, it’s essential that economic growth remains above the country’s funding rate. Based on the CBO’s real potential growth rate of 2.5% (and falling below 2% in the coming years), that is no longer the case. Hopefully, the CBO projections are too low given the AI boom that is currently underway. If not, we run the risk that the rising cost of capital will choke off the economy’s formidable growth. Note below that the last few times that the real yield spiked to or above the real potential growth rate were 2007, 2000, and 1994. Those were either rate shocks or growth shocks.

Spiral Stake just crossed $150k in TVL. Every dollar in the protocol is real capital earning real yield, with a reserve already funding $SPRL buybacks and burns behind it. Thank you to everyone who deposited before it was obvious. Higher.

It is impossible for me to not be bullish on Bitcoin right now. Bitcoin is RISING through a real-yield regime it has literally never seen before. The 10Y real Treasury yield hit 2.68% this week - the highest level of the entire Bitcoin era. But the crazier number is 2.44%. That’s the average 10Y real yield over the last 40 Treasury sessions. The highest sustained 10Y real-yield regime in Bitcoin history. Bitcoin is up 17.4% over those same 40 sessions. This matters because real yields are the hurdle rate. When the government will pay you ~2.5% above inflation to sit in Treasuries, the opportunity cost of owning a non-yielding monetary asset is enormous. For much of Bitcoin’s history, collapsing or negative real yields were gasoline. Right now the gasoline is gone. The macro headwind is sitting at a record. And Bitcoin is going up anyway. The lazy model that “Bitcoin only goes up when money is cheap” just ran into a very inconvenient chart: