ICE BofA CCC & Lower HY Index Effective Yield: 11.7% @ethena_labs PT-USDe: 16.75% Fixed APY One is built on distressed companies on the brink of bankruptcy issuing junk debt as a last ditch effort. The other is governed transparently and permissionlessly by code. I’ll let you decide which actually carries more risk 🤷‍♂️
More than $54B of Fixed Yield derivatives have already been successfully settled on Pendle. This includes $ETH and $BTC derivatives, RWA, stablecoins and more. Pendle works.
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