A NetNet x Pendle collaboration is definitely not priced into $NET yet. What will happen when Pendle launches markets on Robinhood Chain: Robinhood Chain has USDG, Morpho, Uniswap and NetNet. There's yield on the chain, but no fixed income layer on top of it. Pendle showing up doesn't just add a venue, it creates a bridge for A LOT of DeFi users. Loopers, PT farmers, fixed income degens. People who already understand reserve mechanics and don't need it explained to them. While for most trenchers NetNet is just an OHM fork, this crowd will open the docs and actually understand it. They'll see backing that only goes up, emissions that shut off the second the premium disappears, and a treasury that can't print a token it can't stand behind. They'll LOVE NetNet. What PT-USDG on money markets and looping would mean for $NET: Looping is borrowing. More USDG borrow demand on the Robinhood chain means the Morpho lending rate goes up. NetNet has their almost $2M USDG treasury sitting in Morpho as a lender, so the rate the loopers pay is the rate NetNet collects. Which means more yield -> faster growth of $NET backing/treasury. NetNet wins here even if Pendle never lists $NET at all. What a $NET market would do for the token: Right now NET's yield is a rebase APY that moves with the premium and pays out in more $NET. Pendle turns it into a number an allocator can size: X% fixed, this date, done. And they can easily do this. Pendle needs a non-rebasing wrapper to split into PT and YT, and wsNET is live and already collateral in the Loopback facility. But most importantly, if Pendle will do this, they need to seed the pool. This means they'd have to buy a lot of $NET from the open market, and whatever goes in is locked until maturity. So, TLDR; Pendle coming to Robinhood and potentially collaborating with NetNet would mean: - more people being exposed to NetNet - big growth of the treasury, as more USDG borrow demand on the chain means the Morpho lending rate will go up - a lot of $NET bought from open market and locked to seed the pool We're just getting started. (🥅,🥅)