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Yield of the Day 📈 @pendle_fi srUSDat PT APY fixed for 73 days - 11.76% LP APY - 11.97% TVL: $8.78M srUSDat is the senior tranche on @strata_markets built on sUSDat (the yield-bearing version of Saturn Credit’s @saturn_credit USDat, which earns yield from STRC digital credit while being backed by tokenized U.S. Treasuries). Follow for daily research 🧵 Join Discord for alerts & comments 🚀 Stay SAFE 🛡️ #DeFi #RWA #Stablecoins #DYOR

🤣😂 hhh chass ni agayi usdat Aka asi muzahmat Kar aan 😝😝 Abhi to Kuch Kiya bhi Nahi ya to pehla hi Paron ma agay

1/ 1⃣空投積分(已用1500，剩餘1500) Polymarket $1000 (虧損386)、Saturn USDat YT $500(虧損107) 2⃣二級市場(已用1850，剩餘1150) 浮虧122 $1000 $PEAQ @ 0.031 $350 $PHA @ 0.049 $500 $CARDS @ 0.17

After reading "How Crypto Businesses Turn Products into Platforms" I realized that @pendle_fi may be one of the clearest examples of this evolution in DeFi ⤷ Product → Platform model In the beginning, Pendle was simply a product. A place to trade yield. Users came to Pendle to: • Lock fixed yield • Go long yield • Go short yield That was the product, but over the last two years, Pendle's role has changed dramatically. • Restaking emerged. • Yield-bearing stablecoins emerged. • Tokenized assets started gaining traction. And almost every major DeFi yield narrative ended up passing through Pendle. From restaking assets like eETH and rsETH, to yield-bearing stablecoins such as sUSDe, sUSDS, USD3, USDat, and apxUSD, and more recently the STRC, Saturn, and Apyx ecosystem, nearly every major yield narrative has found its way to Pendle. The interesting part is that Pendle did not create these narratives. But it became the place where these narratives were amplified. In the past, projects launched an asset and then tried to attract liquidity. Today, many projects launch an asset and a Pendle market almost at the same time. Because Pendle immediately provides: • Fixed yield • Yield speculation • Leverage strategies • Liquidity • Distribution In other words, Pendle is increasingly becoming part of the go-to-market strategy for new yield assets. That is the moment when a product starts becoming a platform. And the story does not stop there. Today, PTs are starting to appear outside of Pendle itself. • PTs are being used in lending markets. • PTs are being integrated into vaults. • PTs are being accepted as collateral. This shows that the value of Pendle is no longer limited to its yield trading interface. The value is increasingly embedded in PTs themselves. One of the strongest signals of this shift is seeing protocols like Sky use PTs as backend infrastructure for yield strategies built on top of them. When one protocol begins using another protocol's product as a building block for new products, that is often the clearest sign that the Product → Platform transition is underway.

The next evolution of finance may not be built on banks—it may be built on Bitcoin. While most people view Bitcoin as a store of value, @saturn_credit is building a much bigger vision: transforming Bitcoin into the foundation of a new global credit economy. Saturn isn't creating just another stablecoin. It's building a financial layer designed for the era of Bitcoin Credit, where Bitcoin becomes productive collateral capable of supporting lending, yield generation, and institutional-scale financial infrastructure. At the center of this ecosystem are: 🔹 USDat — a stable digital dollar backed by tokenized U.S. Treasuries. 🔹 sUSDat — a yield-bearing asset designed to provide exposure to institutional-grade digital credit opportunities. What makes Saturn stand out is its ambition to connect traditional capital markets, institutional credit, and DeFi into a single on-chain financial system. One of Saturn's biggest moves is pioneering infrastructure for Digital Credit Markets, creating new ways for capital to flow efficiently between Bitcoin-backed assets and decentralized finance. The vision is clear: ✅ Turn Bitcoin into productive collateral. ✅ Bring real-world financial assets on-chain. ✅ Build a transparent and scalable credit market for the next generation of finance. Backed by leading investors including YZi Labs, Spartan Group, Anchorage Digital, Sora Ventures, and Susquehanna Crypto, Saturn is positioning itself at the intersection of Bitcoin, institutional finance, and DeFi. The last decade was about building blockchains. The next decade may be about building global credit markets on top of them. And Saturn is working to lead that transformation.

4/ > $USDat is the liquidity layer. > $sUSDat is the yield layer. > And $sUSDat is where Saturn turns Strategy’s digital credit into onchain yield. That means Saturn is not just another stablecoin farm. It is packaging a credit trade into a stablecoin-native product.

saturn credit hit $205m TVL in 10 weeks. 127% growth in 30 days. $100m deployed through pendle in under a month. impressive until you look at what's underneath. 45% of USDat backing is STRC, a perpetual preferred equity instrument collateralized by one company's BTC holdings. strategy. on june 3 strategy sold $2.5m BTC and sUSDat depegged to $0.82. recovered to $0.95 in hours but the mechanism was exposed. your 11.5% yield on sUSDat is a leveraged single-name credit bet dressed up as diversified institutional infrastructure. strategy's CEO admitted the realistic forced selling scenario is 2028 when $3.5b in converts mature at $400 strike. if BTC is below that number saturn's entire yield structure gets stress tested for real. the pendle fixed rate markets at 14.2% are pricing in zero probability of sustained dividend disruption. that's a mispricing worth watching closely.

Simple as it's > $USDat for pts preferably > $sUSDat for 15% APY

分享最近的几个Defi生息去处（按风险从低到高排序）： 1. @Gate 上的USD1，年化20%，无需锁仓，风险较低，强推。参与的话记得现在币安买 solana:USD1ttGY1N17NEEHLmELoaybftRBUSErhqYiQzvEmuB ，再提到Gate，省下千1手续费。 2. @saturn_credit 的 $USDAT (非 $susdat )Pendle LP池子，吃积分，预估积分年化15%左右。 3. @lista_dao 上PT-sUSDAI循环贷，差不多能做到年化30%。 #Defitrade

Saturn的这个PT-USDat循环贷池机制不错，Wintermute的流动性支持能给用户更好的借贷体验，稳定币池子这样设计确实更抗风险

.@wintermute_t just launched their Arbitrage USDC Select v2 vault on @Morpho. Armitage Select strategy: blue-chip high-TVL markets a few selective higher-yield opportunities for better returns while keeping balanced risk. Current numbers: • Total Deposits: $32.32M • Liquidity: $26.53M • Net APY: 4.72% The vault is heavy in cbBTC, WBTC, wstETH and their own v-wmtUSDC (currently yielding 9.06%). The real juice comes from the two @pendle_fi PT positions: - @re PT-reUSD → 10.95% - @saturn_credit PT-USDat → 8.63% Higher yield than standard Prime vaults with smart risk management. Live on Morpho now.

Saturn 的 PT-USDat 循环贷池得到了 @wintermute_t 流动性支持，目前还有接近 $1M 流动性可借用 *USDat系产品不受 $STRC 波动影响 以下是Intern 提供的PT-USDat 循环指南 ⬇️ （分享项目信息，非投资建议，DYOR !） @saturn_credit $USDat

It's official - @wintermute_t has provided liquidity to PT-USDat on Morpho. Here's a step-by-step guide on how to loop PT-USDat for extra yield:

Armitage by @Wintermute_t now lends from its USDC Select vault to Saturn's PT-USDat market on @Morpho.

Users can supply PT-USDat as collateral or USDC as lending liquidity, accessing strategies backed by U.S. Treasury Bills. PT-USDat-27AUG2026 / USDC Market: app.morpho.org/ethereum/mark…