The TAM stack for $PARE is massive > $1.8T/year in global dividends, grows almost every year, pays out in bulls and bears. > $560B in US Treasuries already sit stripped into principal + coupons > €72B/year in dividend futures already trades > Pendle did $1B+ deposits on crypto yield alone, and stock yield is larger If I can add some juice to the thesis: Right now @PareStocks lives on @RobinhoodCrypto Chain - what if you seamlessly split the stock on the app? what if it goes beyond the app? Imagine a "collect the dividend, skip the exposure" (or the reverse) toggle sitting inside the @RobinhoodApp itself, next to the buy button. You're combining consumer access + yield on tokenised stock, and if you have an rev split agreement akin to $LIT perps, RH could get another stream of income. Let RH be the testing ground before other chains. The biggest risk right now is Pendle capturing other chain volumes faster than Pare does and drowns it out. Disc: I hold both $PENDLE and $PARE