Really only 2 outcomes for participating in FT; 1. You take your original investment back (or any portion thereof) 2. FT performs well, profit. And if it just outperforms stablecoin yield (~2-3%), its profit. Realistically, considering stablecoins, you could either deposit into lending and earn ~3%, that means FT via all its buybacks just needs to go up 3.1% to outperform stablecoin yield and you have profit. Always liquid, available anytime. The model works. Even in these markets (and consider private only participation) the refunds have been tiny, because depositors can see they can get their funds back anytime.(Andre Cronje)