Chapter 2, explained in one minute.
sUSDx is a dollar that earns. Hold it and the yield piles on top. Simple, until you want one without the other.
Drop it into PARE and it comes out as two tokens.
The p side is one dollar at maturity, bought today for less than a dollar. The gap is your fixed rate. Nothing to manage, nothing to claim. Hold it, collect the dollar.
The y side is every bit of yield that dollar earns between now and maturity. Want the upside without parking more capital? That's the one.
Put them back together and you've got your sUSDx again. Any time.
Same engine that splits stocks today. Different asset, same audit firm going through it right now. ๐
Soon.