OKX Group LP Strategy Real Time Yield 72.6% - Exchanges Compete for After hours Pricing Power, Chain Stocks Embrace Their DeFi Summer Stock tokenization extends trading time onto the chain. After the US stock market closes, whoever can provide continuous quotes, low slippage, and deep liquidity will be closer to the center of post market price discovery. OKX is accelerating this process through subsidies. The current activity covers 53 Uniswap pools on X Layer, with a total prize pool value of $220000. The rewards are distributed according to the proportion of transaction fees generated by each position. This set of rules brings a direct conclusion: the narrower the interval, the higher the efficiency of generating transaction fees per unit of funds; The higher the share of transaction fees, the more subsidies will be obtained. High returns also mean a higher probability of exiting the range. My real earnings - annualized approximately 72.6% I invested about 10000 U on the first day and added about 16000 U the next day. The current OKX page shows that the total value of Uniswap V3 positions is about $26545. The income that can be confirmed on the page includes: 1. Activity subsidy: 54.48 US dollars 2. Unclaimed handling fee: $17.08 3. Total: 71.56 US dollars Based on a principal of approximately $26000, the cumulative return on the page is approximately 0.275%. Considering the different entry times of the two funds, it is estimated that "10000 US dollars will run for two fund days, and 16000 US dollars will run for one fund day": 71.56 ÷ (10000 × 2+16000 × 1) ≈ 0.199%/funding day The simplified annualization rate is about 72.6%. After deducting activity subsidies, the commission income is approximately 17.08 ÷ 36000 × 365 ≈ 17.3% This still does not deduct impermanent losses, slippage Gas、 Changes in basis and borrowing costs. Long term sustainable returns need to be re observed after the subsidy ends. Why focus on configuring Coca Cola I first choose stocks with high current page returns and fundamental support. When choosing stocks, I first ask a question: After the price falls below the range and all positions are converted into stock tokens, am I willing to continue holding? KO's answer is relatively clear. The company's Q2 revenue increased by 7%, organic revenue increased by 6%, EPS increased by 16%, operating profit margin rose to 34.9%, and the full year guidance was raised. The company has increased its dividend for 64 consecutive years, with an annual dividend of $2.12 per share for 2026. Based on a stock price of approximately $89.88, the stock dividend yield is approximately 2.36%. Whether stock tokens transmit dividends depends on the issuer's terms and cannot be directly equivalent to holding US stocks. KO's current P/E ratio is about 27 times, with a profit return rate of about 3.7%. The fundamentals are stable, and the valuation is already not low. It is suitable as a defensive asset that is willing to take on after falling below the lower edge, but it is not suitable to ignore the continuous price pursuit. KO's LP returns and risks I have currently configured two KO-USDG intervals: The current value positioning of the position range is a narrow range of 90.2133-94.5543 $1319.31, which improves the efficiency of handling fees. The wide range is 86.0716-96.2716 $8701.20, covering the main fluctuation range. The total amount of two positions is approximately $10020, with a promotional subsidy of $22.91 and an uncollected handling fee of approximately $1.19. The total identifiable income is $24.10. The cumulative revenue of the page is approximately: 24.10 ÷ 10,043.43 ≈ 0.24% Based on the estimated capital occupation time of two positions, the daily return is about 0.21%, and the simplified annualization is about 77.6%. About 95% of the income comes from activity subsidies. Only calculating the handling fee, the simple annualization of KO position is about 3.8%. This indicates that the current high returns are mainly contributed by short-term incentives, and after the subsidy ends, the attractiveness of the strategy will significantly decrease. How is the interval determined by the support and resistance levels KO has recently stopped falling multiple times around $86, forming strong support; After the breakthrough, around $90 became a new short-term price hub. The recent high of $92.49 constitutes the first pressure. The on chain interval also needs to include the basis difference between stock tokens and spot goods. The implied price of wKOx in the current pool is about $91.31, while the spot price of stocks during the same period is about $89.88, and the on chain quote is about 1.6% higher. Therefore, I divide the interval into two layers: a. 90.2133-94.5543: Set around short-term support and upward pressure, and add on chain basis buffering. The capital efficiency is high, but the current price is only about 1.2% away from the lower edge, making it easy to fall out of the range. b. 86.0716-96.2716: The lower edge corresponds to stronger support, while the upper edge covers the extension space after breaking through the pressure level. Low yield density results in longer effective market making time. Narrow range is responsible for negotiating transaction fees and subsidies, while wide range is responsible for accommodating fluctuations. The closer the position is to the bottom, the more cautious I am in increasing new narrow range funds. After falling below the lower edge, the KO-USDG position will gradually convert to KO. As long as the fundamentals remain unchanged, this is equivalent to completing a fixed investment at the preset price; If there are changes in profitability, cash flow, or token redemption mechanism, it is necessary to exit and cannot continue to mechanically replenish positions. My warehouse building process First, purchase stock spot or corresponding tokens on the OKX exchange during the trading session. The main trading session has better liquidity and more stable price anchoring, which can usually reduce the slippage and basis loss caused by direct currency exchange on the chain. Subsequently, the assets will be transferred to X Layer and a layered LP will be established based on support, resistance, and on chain basis. Funds will not all be placed in the same narrow range to avoid a normal fluctuation that would cause all positions to stop earning fees. USDG can be lent out by mortgaging eligible assets, with reference to Aave's floating loan APY, which was about 2.70% at the time and was originally cheaper than ETH's 9% on the chain! Whether to use leverage depends on the following relationship: Expected handling fees+subsidies>impermanent losses+loan interest+slippage+gas+risk premium The current annualized handling fee of KO, excluding subsidies, is about 3.8%, which is only about 1.1 percentage points lower than the borrowing cost of 2.70%. After taking into account other costs, the safety margin of long-term leverage is very thin. During the subsidy period, it can be used tactically, but it should be re evaluated after the subsidy ends. The core of maximizing profits The optimal strategy does not pursue the narrowest range, but rather the highest risk adjusted net return: a. Only choose stocks that are willing to hold for the long term after falling below the range. b. Determine the lower edge using the support position, and determine the upper edge using the resistance position and the baseline on the chain. c. Balance rate efficiency and online time through two layers of wide and narrow positions. d. Separate the calculation of subsidy income and actual transaction fees. e. The borrowing cost must be covered by income without subsidies. f. Stop fixed investment when fundamentals fail and exit promptly. The DeFi Summer for on chain stocks has already begun. Subsidies can create high annualization, and the sustainability of the strategy is still determined by the quality of the target, interval discipline, and judgment of the risk price.