Not to say there wouldn't be any demand for a USDmanlet structured product, but also, if you're faced with a choice of earning yield for yourself (to buy SOL or anything else) or earning the same yield but forcefeeding through an inefficient DAT, then why at an individual level would you prefer the latter? That's without getting into the complexities involving shareholders with authority and ownership over DAT-bought tokens, which is arguably the bigger issuer. Distribution leverage is stable issuers going to chokepoints where the decision maker can force/incentivize OTHERS to utilize their balance sheet to earn yield for the decision maker (shared with the issuer). SOL-aligned DATs don't have that leverage, so it's functionally different.(Scott Johnsson)