I promised to explain Yield Tokens (YT) on @pendle_fi. From today, everyone will understand Pendle's power. Understanding this is a must before the market goes up again. Let’s dive in. 👇

Pendle has been named to @FortuneMagazine Crypto Innovators list, recognized among 30 companies and projects selected from more than 150 nominations, including TradFi institutions such as State Street, DBS Bank, and SBI Holdings. For most of crypto's history, fixed income had no real equivalent onchain. Variable yield was everywhere, but locking in a known rate or taking a defined view on duration didn't exist at scale. Pendle was built to close that gap, and that work now supports billions of dollars of TVL, with a growing share coming from stablecoin yield markets and institutional allocators. Job's not done!

"I've made so many mistakes... Remember... slamming the office desk- freaking out- because I couldn't add collateral to my $BTC long... I developed panic attacks... Life was really good, but life was really hard..." - @molesy39 on the life of a trader, with @0xsmac

A few days more rest. So that I’ll be at full strength when magic internet tokens start to make sense again. I believe it will be soon. Enjoy your summer my friends! 💪

What happens when tokenised assets can be issued on-chain, but still cannot move efficiently? Most people think tokenisation's biggest challenge is issuance. It's not, it's liquidity. RWA-Fi has grown to ~$34B and continues expanding rapidly, yet many tokenised assets still operate with redemption windows ranging from T 1 to 180 days. This creates a structural problem. An asset without a reliable exit is harder to hold, harder to lend against, and harder to integrate into broader DeFi markets. And the market naturally prices this in as investors demand a liquidity premium, protocols become hesitant to accept RWAs as collateral which causes capital efficiency to suffer. This is precisely why only a small fraction of tokenised RWAs are actively utilised throughout DeFi today. The bottleneck is no longer asset issuance, but settlement infrastructure. This is where @symbioticfi Liquid Lane's design becomes interesting. Rather than forcing every issuer to maintain dedicated liquidity buffers or rely on fragmented OTC markets, Liquid Lane introduces a shared settlement layer powered by Symbiotic vaults. The mechanism is conceptually simple: 1️⃣ A holder wants to exit a tokenised asset. 2️⃣ Market makers compete through an RFQ process to price the redemption discount. 3️⃣ Once accepted, vault capital settles the redemption instantly on-chain while the market maker assumes the underlying redemption process. 4️⃣ Between settlement events, vault capital remains productive through lending venues such as @Morpho @aave , while simultaneously earning redemption spreads and participating across the broader Symbiotic ecosystem. In effect: Future liquidity gets pulled forward into the present. This effectively creates a new market for settlement itself. 🔸 Investors receive instant exits 🔸 Issuers gain broader distribution and deeper liquidity 🔸 Market makers capture settlement spreads 🔸 LPs earn from multiple yield sources simultaneously And that's the bigger unlock. Tokenisation solved ownership years ago, and the next frontier is mobility. Because the future of RWA-Fi won't be determined by how many assets come on-chain, it will be determined by how efficiently those assets can move once they're there. And sooner or later, instant liquidity won't be a competitive advantage. It'll simply be the industry standard 🫡

Linn's Leverage #1038 is out: (Link in tweet below) @boros_fi @pendle_fi @maplefinance @Theo_Network @KyanExchange @Mantle_Official Like/Repost to support:

Everyone's reading @SkyEcosystem' Fixed Yield as a product. In my opinion it's a price feed and almost nobody's treating it like one. See Sky's variable rate is ~3.60%. The same pool lets you lock around 5% fixed to November. For locking to be the wrong call, Sky's variable has to climb and average past ~5% for six months, from 3.60% today. So the spread isn't a yield. It's the market's live odds on what Sky governance does next and right now it's pricing a hike as unlikely and here's what it hands you👇 ➥ Think rates stay flat or fall? - Take the PT side - You lock ~170bps over variable with certainty and the market's leaning the same way you are ➥ Think macro forces Sky to hike? - The YT side is cheap optionality on a reversal the pool is underpricing - Small premium in, big payoff if you're right The bigger edge is what comes next. Note every stablecoin that plugs into @pendle_fi spins up the same rate-expectation feed. Learn to read it here, on the first one and you can read the whole category's bets as it consolidates. The pool's near around $14M today (which is looking small for now) so either side you take, you're on the signal before it gets crowded. NFA DYOR h/t to @DefiLlama for the data

How deep in the red must the people who bought the top be? I bought the bottom and I'm already down 50%.

There can always be another "IT'S SOOOOO OVER" after "IT'S SO OVER"

The truth is generally seen, rarely heard.

It's so over. It's the right time to go on holiday, win some money in the casino (NFA), take some recreational drugs (NDA), and have fun with loved ones (NLA). You will never forget those moments. Stop losing your money in crypto at this moment. Enjoy life a bit.

I'm surprised by how many people in crypto don't know about @Trezor. Until today, I thought almost everyone used Trezor as their primary hardware wallet. @satoshilabs has created several products that became part of my daily life. Another example is @vexl. This isn't an ad. I simply think crypto space lacks products that truly embrace the original values cryptocurrencies were built on. Many products have drifted away from those principles. SatoshiLabs remains one of the few that hasn't.

Most DeFi lending protocols walk around at 60–75% utilization and call it huge. @maplefinance' $SYRUP is running at 90.9% utilization and $1.3B in active loans with $3.8B in AUM. The capital that's working is genuinely working. That's not a lending protocol. That's a credit engine. Also onchain institutional credit is now pricing real-world rates (syrupUSDC yield rate is offering 4.62%) making it a different category entirely. h/t to @Dune for the data

. @Strategy's STRC-based primitives on @pendle_fi continue to dominate the yield leaderboard, with STRC-linked TVL more than 2x over the past month. 🔸Top fixed yields reaching ~21.2% APY with ~$27.6M of scaled depth 🔸~95% effective APY achievable through recursive borrowing strategies via @apyx_fi 🔸Enhanced rewards of up to 52x APYX Pips and 24x Gravity Points via @saturn_credit What's interesting isn't just the yields themselves, but how quickly the surrounding ecosystem is expanding. As more Pendle integrations emerge around STRC-based primitives, it'll continue to compound on one another which creates a powerful flywheel for capital inflows. This is precisely the kind of pattern we've seen before: New yield primitive emerges → Pendle financialises it → ecosystem integrations accelerate → capital concentrates around the most efficient access points. Given the current trajectory, it wouldn't be surprising to see STRC-linked TVL push toward $1B by June. Pendle

Win through your actions, never through argument.

So many empty wallets could have been prevented with one simple step: using a hardware wallet. If you're still debating which one to buy, @Trezor has been setting the standard since introducing the world's first hardware wallet in 2014. - Born in Prague and created by @satoshilabs, Trezor continues to stand proudly independent - In 2014, Trezor introduced the world's first hardware wallet, the Trezor Model One - Trezor began as a side project in 2011, created by its founders, @PavolRusnak and @slushcz - Trezor, which means "vault" in Czech, is designed with security at its core - Trezor's hardware and firmware are completely open-source, giving you full transparency and control - Trezor's initial prototypes were created on Raspberry Pi boards - Trezor played a key role in shaping industry wallet standards, including BIP-39 and BIP-44 - Trezor co-founder Marek "Slush" Palatinus launched the first Bitcoin mining pool - Since 2023, Trezor has taken direct control of its chip supply chain to enhance security - Trezor has earned the trust of users in over 150 countries worldwide - In January 2025, Trezor introduced the Trezor Safe 5 Freedom Edition, a limited release of just 2,100 devices The only hardware wallet I've used daily for years.

God always has a plan. Trust it. Live it. Enjoy it.