The Smart Ape 🔥 Profile picture
Mar 21 16 tweets 11 min read
Last PART on @pendle_fi !

After the first two THREADs :
Part 1 :
Part 2 :

where we saw the principles of the protocol, let's see the last part on the Tokenomics of the @pendle_fi project.

So let’s dive into it !

THREAD 🧵🧵🧵
Let's start by watching TVL on @DefiLlama, we see a strong increase in this TVL from December 2022.
Surely the beginning of the #LSD narrative.

Logically @pendle_fi takes strength on this narrative because it allows to trade Yields from #LSDs.
Logically, the price has also had the same evolution as the TVL (narrative LSDs).
The distribution of the token is as follows:
- 10 % Incentives
- 65,1 % Circulating
- 5,7 % Team
- 19,2 % Ecosystem Fund

Team tokens vest up to April 2023, so be careful next month 5% of the supply will be released, which can create a slight dilution effect.
Weekly emission as of Oct-2022 is 667,705 with a 1.1% decrease each week until April 2026.

At this point, the current tokenomics allow for a terminal inflation rate of 2% per annum for incentives.
By staking and locking $PENDLE, you have a certain amount of $vePENDLE which decreases over time.
The $vePENDLE serves three purposes:
- 1: @pendle_fi collects a 3% fee from all yield accrued by YT.

By getting $vePENDLE you earn 100 % of these protocole fees. So the protocol collects no revenue.

All rewards are ditributed in $USDC (real yield).
- 2: $vePENDLE holders vote and direct the flow of rewards to different pools, effectively incentivizing liquidity in the pool they vote for.

Voting for a pool also entitles vePENDLE holders to 80% of the swap fees collected by the pool, distributed to all voters of the pool.
Base APY = Yield from 1
Max APY = Yield from 1 + 2
(see the graph)

$vePENDLE holders generate more returns (+10%) by also recovering swap fees by voting for a pool.

It is therefore important to vote to get some of these returns.
- 3 : If you LP in a pool while you are holding $vePENDLE, your $PENDLE incentives and rewards for all of your LPs will be further boosted as well, by up to 250% based on your vePENDLE value.
Personally, I don't think it's a good idea to enter now given the big increase we've had.

Many people can take profit (myself included), do as you want but be careful.

Personnaly I'll wait for a correction to increase my bag.
I think in the long term, the TVL of the protocol will increase with the LSDs narrative which for me will be one of the biggest narratives.

So more revenue for stakers !
If you buy $PENDLE I advice to put them to work, you have 100% of the fees generated by the protocol and 80% of the swap fees if you vote, that's huge!

The max supply is soon reached so no big risk of dilution.
Personally, I intend to recharge my bag at the first correction and put in staking to get the various revenue of the protocol.

I'm not telling you to buy, think, understand and then make a decision.
I hope you enjoyed it, don't hesitate to let me know in the comments, without forgetting to like and RT the first tweet of the thread!

Be strong 💪
#Cryptocurency #DEX #pendle #Arbitrum #RealYield #yield #blockchain #project #fees #earning

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More from @ed_Nuward

Mar 22
I'll show you how a friend foolishly lost several $BNB by getting scammed

AND

How it could have been easily avoided !

SECURITY THREAD 🧵🧵🧵 Image
Let's call this victim Paul!

Paul came across this Youtube video and followed the recommendations of this video.



DON'T DO IT !!!! IT IS A SCAM !!
It's just to show how you can avoid it
This video provides a so-called Arbitrage contract that it is possible to relaunch on Solidity to earn several $BNB per day from a single investment BNB.

Yes of course … we believe in it 🤬
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Everyone talks about @zksync or especially the potential #airdrop

BUT

Do you know what @zksync is? How is it different from @arbitrum ? How advanced it is ?

These are the questions you should ask before betting on a potential airdrop

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As you must surely know, @zksync is an L2 of #Ethereum.

I won't go back to what a Layer 2 is, I'll put you the link of the documentation if necessary:

academy.binance.com/en/glossary/la…
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It hasn't been long since I started making content on Twitter.

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I did a first THREAD to present the @pendle_fi protocol to achieve level 2 comprehension.

I complete this THREAD (to level 4) by finishing the presentation of this wonderful protocol !

Let's dive into it !

THREAD PART 2 🧵🧵🧵
In the last THREAD I talked about:
- #Yield Tokenisation
- PT (Principal #Token) Strategy

In this THREAD we’ll talk about :
- YT (Yield Token) Strategy
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On the same principle of the previous THREAD, I will try to be as simple as possible and will put a lot of examples to facilitate understanding.

Let’s GO !! 🔥🔥
Read 29 tweets
Mar 18
One of the protocols that I appreciate the most and which is also one of the most technically complicated : @pendle_fi

I think a lot still don't understand the principle of this amazing protocol.

Let’s dive into it !

THREAD 🧵🧵🧵
@pendle_fi is a technically quite complex protocol, it took me a while to understand it.

In this THREAD, I will do my best to be as simple as possible so that as many people as possible understand.
There is 4 levels of understanding on @pendle_fi, at the end of this THREAD my goal is that you are at level 2.

I will probably do another THREAD to complete.

Let's GO!!
Read 28 tweets
Mar 17
Everyone is talking about @RamsesExchange !

What is it and why does it make noise ??

Let’s dive into it !

THREAD 🧵🧵🧵
What is @RamsesExchange ?

RAMSES is a ve(3,3) DEX.

If you don’t know what is a ve(3, 3) I encourage you to read this article from @AndreCronje_dev  :

andrecronje.medium.com/ve-3-3-44466ea…
The important point here is that the $veRAM holder are protected against Token inflation.

Example: If inflation increases by 10% then your position ( $veRAM ) also increases by 10%.

$veRAM is the vested token $RAM, the token of the protocol.
Read 19 tweets

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