Researching some stables yields now. An interesting one are @pendle_fi PTs, and the reUSD markets. It's 10.18% or 16.64% fixed until December, depending on which tranche you pick. The yield comes from real-world reinsurance premiums via @re. Not emissions, not points, not someone else's leverage. • PT-reUSD → 10.18% fixed, senior tranche, gets paid first if things go wrong • PT-reUSDe → 16.64% fixed, mezzanine tranche, higher yield because you're absorbing losses before the senior does So it's basically a question of what you're comfortable holding for 156 days. I lean senior for the bulk and I'm still deciding if the extra 6% is worth the mezzanine exposure. Honestly haven't landed on it yet. One thing worth watching are the borrow rates on Morpho. Right now USDC borrow against PT-reUSD is sitting at 8.87%, so looping the position barely pays. But if that rate drops back to the 4$-5%, the spread reopens and you can leverage the fixed yield. The risks are the usual PT stack. Exit before maturity and you're selling into whatever liquidity exists (reUSDe's pool is the thinner one). And you're trusting re's reinsurance book plus Pendle's contracts on top of it. Nothing crazy here, just fixed yield with a known end date, which is kinda rare in a market where every variable rate keeps getting repriced out from under you.(Edgy - The DeFi Edge 🗡️)