💡Supplementary explanation for not purchasing YT on PENDLE, but only pledging and locking USDE:

When locking USDE, 1 USDE earns 20 satoshis per day. If ENA is locked, 1 unit of ENA itself can earn 30 satoshis.

If the total value of locked ENA equals 20% of the total value of pledged USDE, a 1.2x satoshi bonus is obtained. If the total value of locked ENA equals 100% of the total value of locked USDE, a 2x satoshi bonus is obtained.

So, the maximum daily earnings would be 30 satoshis for ENA + 20 satoshis for USDE, multiplied by 2.

For example, if I hold 10,000 USDE and now want to deposit ENA worth 10,000, then my daily earnings would be (10,00020 + 10,00030)*2 = 100,000 satoshis.

In summary, with four months remaining until September, the time is sufficient, and the earnings are still quite substantial based on the yield ratio of the first quarter.

Here are some important risks to reiterate:

1️⃣ Systemic risks, such as a collapse in underlying ETH yields;

2️⃣ Major changes in project rules;

3️⃣ Excessive fluctuation in ENA price;

4️⃣ USDE unpegging.

Pledge and lock entrance: http://app.ethena.fi/join/7pwhw

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