Another beta bet on ETH is $PENDLE

🎯 It hits many narratives: yield, defi, restaking, RWA, POINTS!

The valuation is appropriate for both market capitalization and FDV. All the big token unlocks are over. What's left are incentives.

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If you want to fuck the sky, you must teach your penis fly / $ENA $PENDLE $ETH $EIGEN maxi

You can buy it at a discount through Penpie's liquid wrapper, mPENDLE. It trades at a 50% discount to the original. Usually the discount held around 70-80%.

Penpie owns 35% of all vePENDLE tokens.

I'm betting the discount will converge to 80-90% over time benefiting from the proposal that was passed about 1 month ago by PIP 10. Half of Penpie's income from vePENDLE will go towards buying back and burning mPENDLE and over time mPENDLE will own more than 1 PENDLE in a lock.

Discount converge to 80% or 20%? Some confusion here

TradFi since 2013, Crypto since 2017. Author of Telegram channels t.me/chipda t.me/momentum t.me/iintellect t.me/bizlikecrypto