Actually pretty simple stuff. Sell me your YT-srEHYUSD at 13.3% Buy my YT-srEHYUSD at 13.6% +$1000 so far market making for @hylo_so though limit orders on @ExponentFinance There’s a TON of rewards while you wait for the orders to get filled.

3 Tranching Markets on @ExponentFinance All over 1M in market size. Junior tranches printing 20%+ APY Senior tranches ~7-9% APY So incredibly early. These will each grow to 10M, 50M and eventually 100M+ markets. Plus, there’s more on the way.

I believe value, like energy, cannot be created or destroyed. It can only be transferred. A good product doesn’t create value but instead pulls value from lesser products. Money represents value and is meant to work the same way, except value is finite while money is infinite.

A quick cheat sheet and a long explanation for yield trading. Markets The inversion of Implied APY and PT value can be trippy sometimes. The idea to wrap your head around is: The lower a PT's value is, the higher the fixed rate. Meaning a token that goes from 0.95 → 1.00 has a higher fixed rate than a token that goes from 0.98 → 1.00. The end point is always the same, and the market fluctuates how far from 1.00 it can go during the maturity. Limit Orders This is just a reminder on which direction to set limit orders if you're not trying to size in at the current market price. The typical reasoning is to get a better entry, so for YTs you want the lowest IA, and for PTs you want the highest. Liquidity This one I have some more thoughts around. First, I believe that providing liquidity in a general wide range is under the assumption that the market is pricing the asset's yield relatively correctly and that you want to capture fees in the fluctuations. You would want to exit the LP around the same implied APY or lower than you entered if there are no plans to hold to maturity. The directional option is to provide liquidity when the implied APY is higher than what you believe is the fair price, so you can capture the fees and profit on the LP's value increase as the implied APY drops. This is because the LP will be converting its fixed-rate portion into the underlying token, almost DCAing out of a PT position that is growing in USD value. Being in a full PT position (higher than your range) presents a negative PnL because your position is essentially a DCA into PTs and the PT's current market value in USD is lower than your entry. Think of it as buying PTs at 0.98, 0.97, 0.96 and the current market value is 0.96. You would simply have to wait until maturity to capture the profits.

What a great breakdown of fixed rate borrowing/lending on Morpho. It takes time to completely learn, breakdown and create this kind of content. Milos is saving you all the work in a 20min video (10min watching on 2x speed)

I’m here enjoying my Acai bowl and smoothie and the two guys beside me are talking about an STI one of them got from his girl. He’s been doing research about it through Reddit threads and now they’re planning how to find out her history. wtf is going on.

The premium (or cost) for Solstice flares is pretty easy to eyeball because there are two markets live: USX and eUSX. eUSX 7D trailing APY 6.34% eUSX implied APY 7.30% 15x flares cost = 0.96% USX 7D trailing APY 0% USX implied APY 4.88% 30x flares cost = 4.88% The only caveat, is that eUSX underlying yield fluctuates, the 1D shows 5.47% and if it were to drop that low than it’s more closely priced to USX flare cost.

The $STRCx rate market is live on Exponent Strategy's STRC perpetual preferred stock, tokenized on Solana by @xStocksFi Lock a fixed rate, or take leveraged yield exposure with 2x xPoints on Farm and Liquidity positions ↓

Seems the market caught on and adjusted accordingly. Money was made by knowing: - What the IA (implied APY) represents - What is the yield source of an asset - Expressing that view in YTs

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