sb

Yield enjoyer and part time trader – Building @21Advisory1

[sb @sunboud0]

I can't tag because the account is banned, but a YAM member just signaled a potential exploit regarding @Ostium vault.

If you have any money inside, withdraw. Better safe than sorry.

[sb @sunboud0]

100%+ ROI YT play on @re via @pendle_fi

Two ways in, both maturing dec 10 2026:

1/ YT-reUSDe:
- 14.44x leverage $1K to $14,440 notional
- Yield at maturity: $767
- Net cost of points: $233
- Points earned: approx 85M

2/ YT-reUSD:
- 23.14x leverage $1K to $23,138 notional
- Yield at maturity: $598
- Net cost of points: $402
- Points earned: approx 102M

Season 2 allocation: 35M $RE out of a 1B total supply.

At today's price ($0.50–0.55/ $RE, basically my base case):
(i) reUSDe: $3,245.61 gain (324.56% ROI)
(ii) reUSD: $3,778.21 gain (377.82% ROI)

Worth knowing before you ape in:
$RE launched june 18 and only 16% of the supply is circulating today. The rest unlocks over the next 3 years, including the biggest season 1 farmers, who are still vesting their tokens on a schedule tied to keeping their money locked in the protocol.

Tight supply now ≠ tight supply forever.

Risks: RE price drops, protocol/TVL risk.
You don't get your notional back at maturity, only the yield.

@reintern where am I wrong?

[sb @sunboud0]

Crypto hasn’t achieved mass adoption or “trust” because it doesn’t really improve over time. Technical innovation in crypto/blockchain is pretty slow compared to AI or semiconductors. The improvements are more on how we design financial flows around blockchain technology.

AI + robotics have very good and simple everyday-life use cases, and their results will be exponentially better over time, which is not true with blockchain.

Example: My robot is doing my laundry. Today it can’t do the ironing; tomorrow it will. The next day it will detect stains, then learn how to remove them, then learn how to fold, etc.

AI will boost robotics. AI is a virtuous cycle, and robotics will just benefit from it.

[sb @sunboud0]

@MetamateDaz Way sooner than 30 years, Moore’s law is applicable to AI at an even greater scale.

I agree that it will concentrate power and wealth among fewer people.

[sb @sunboud0]

To keep you updated on this position:

I sold my YT position at an average cost per JANE of $0.0062.
In the meantime, I have decided to short the yield around 12% as I think it is overpriced.

Good calculations can be found on @jacq_capital on how to take advantage of such a setup.

[sb @sunboud0]

100%++ APY YT play on USD3 from @3janexyz

There's an asymmetric bet on YT-USD3-17DEC2026. Current leverage is 18.50×, you earn 18.5× the yield AND points on your notional.

What makes it unique: 3Jane pays YT holders 2 different $JANE streams simultaneously:
1. YT bonus JANE (on your notional)
2. Native USD3 JANE (also on your notional, not your capital, it's confirmed by the team)

Some calculations for $1K invested:
> $1K buys you around $18,500 notional.
> Native USD3 yield at maturity: $786. Net cost of points: only $214.
> JANE earned over 24.86 weeks: 52,116 tokens.

How to think about $JANE BE: $214 / 52,116 JANE = $0.0041 per JANE

BE FDV:

$4.6M at 1.111B TTS
$13.7M at 3.333B TTS
$27.4M at 6.667B TTS

My base case ($0.03/JANE, FDV $100M, TTS 3.333B):
$1,563 in $JANE + $786 yield = $2,349 on $1K invested (283% APY)

Even the bear case ($0.0075/JANE) leaves you profitable. The break-even is a $13.7M FDV. Almost nothing.

Disclosure: bet on $JANE having value at TGE.
Risks: TVL dilution, protocol risk, $JANE = $0. Maturity Dec 17 , you don't get notional back, only the yield.

@PendleIntern where am I wrong?

[sb @sunboud0]

@dcfgod Dcf didn’t seed Ethereum?

[sb @sunboud0]

This is your average protocol communication while their « stablecoin » is under peg for almost 2 weeks.

$apxUSD is trading 20% under peg.

[sb @sunboud0]

Demand for insurance contracts will last forever, and some insurance companies can go bankrupt (many with bad coverage are going to zero).

$BTC demand is not fixed forever, and the model that $STRC is building upon is nothing like insurance or what you described.

You are not a serious person.

[sb @sunboud0]

@thedefivillain @FarsideUK I think they are making a good point in the article that I haven’t seen on CT yet: STRC is basically a loan for Strategy to buy bitcoin at 11.5% per year.

Question: Is 11.5% too high for buying bitcoin?

[sb @sunboud0]

Pete, how have you not assumed by now that creating a stablecoin backed by STRC was a terrible idea?

The underlying thesis of APYX is good, but my god, apxUSD is a terrible design. You made a mistake, find solutions, take responsibility, and move on. Even if STRC repegs, it won’t change the fact that the design is stupid.

[sb @sunboud0]

Emitting a stablecoin relying on a volatile asset is reason enough not to trust you.

This aged well, garbage protocol.

[sb @sunboud0]

@bas3dp0tat6 Selling $BTC is the ultimate solution for Saylor.
There is no other way out for him.

The only way out for him is to wait for $BTC to bounce and get his mNAV above 1.2 to restart the $MSTR ATM selling going.

Other than these 2 options, it goes lower.

[sb @sunboud0]

@YuzuMoneyX's accountable dashboard should be the standard. You can actually delve into where the money is deployed, not just vague labels.

Good work by @0xRamenUmai and the team.
Dashboard: https://t.co/0NGoHuGMme

[sb @sunboud0]

Fair point, IY is elevated rn, which makes YTs more expensive than they could be.

I think the team will keep pushing to grow PT TVL, which should sustain demand and keep IY high for a while.

That said, even at current levels the risk/reward remains interesting, break-even on $JANE is $0.0041, well below any reasonable FDV scenario.

The tweet was meant to highlight the strategy, not necessarily the perfect entry. Waiting for a lower IY would definitely optimize the returns, fair criticism.

[sb @sunboud0]

100%++ APY YT play on USD3 from @3janexyz

There's an asymmetric bet on YT-USD3-17DEC2026. Current leverage is 18.50×, you earn 18.5× the yield AND points on your notional.

What makes it unique: 3Jane pays YT holders 2 different $JANE streams simultaneously:
1. YT bonus JANE (on your notional)
2. Native USD3 JANE (also on your notional, not your capital, it's confirmed by the team)

Some calculations for $1K invested:
> $1K buys you around $18,500 notional.
> Native USD3 yield at maturity: $786. Net cost of points: only $214.
> JANE earned over 24.86 weeks: 52,116 tokens.

How to think about $JANE BE: $214 / 52,116 JANE = $0.0041 per JANE

BE FDV:

$4.6M at 1.111B TTS
$13.7M at 3.333B TTS
$27.4M at 6.667B TTS

My base case ($0.03/JANE, FDV $100M, TTS 3.333B):
$1,563 in $JANE + $786 yield = $2,349 on $1K invested (283% APY)

Even the bear case ($0.0075/JANE) leaves you profitable. The break-even is a $13.7M FDV. Almost nothing.

Disclosure: bet on $JANE having value at TGE.
Risks: TVL dilution, protocol risk, $JANE = $0. Maturity Dec 17 , you don't get notional back, only the yield.

@PendleIntern where am I wrong?

[sb @sunboud0]

100% agree and don’t even think that TVL growth gives you a linear FDV upside.

All this being said, these are only good scenarios. If TVL grows over time, I don’t mind my JANE rewards diluting.

Again, this tweet was showcasing what a good bet YT might be (paying near or over 100% APY). Do you disagree on that?

[sb @sunboud0]

I don’t think YTs are really expensive.

I agree that it was a better deal last week or before. When assessing the BE price of JANE, this strategy stands to perform very well.

Also, I hope that wumpy will use tools to push TVL, as the success of the protocol is my financial success :)

[sb @sunboud0]

@Web3man1020 @3janexyz As I said, you can also check the doc, YTs are earning through 2 different streams.

1. Native USD3 $JANE emission
2. YT emission

Both are based on notional.

[sb @sunboud0]

I 100% agree with that, which is why I started the tweet with “100% APY ++” instead of the 283% displayed by the moonmath below.

That said, it’s the same for all forecasts with points/airdrop farming. Conditions vary with growth and TVL, but it doesn’t mean we can’t make some assumptions.

I think the forecast still holds, meaning YTs are a very good farm.

[sb @sunboud0]

@Web3man1020 @3janexyz Why would we be able to only earn 0.04 JANE per YT?

I am happy to share the spreadsheet so you can check the formulas.

YTs receive 2 streams of $JANE (native USD3 + YT bonus, both based on notional).