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

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.

You can see PIP 10 from Penpie here 
https://snapshot.org/#/penpiexyz.eth/proposal/0x9d0134ab2d2f105507d27b885a719735af4f449a6eca5791c10a350e08dc4004

mPENDLE is trading on Pancake Arbitrum
0xB688BA096b7Bb75d7841e47163Cd12D18B36A5bF

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.

These guys can strike it big in RWA. Imagine how big the global options market and they build what seems like the new era in this space, total disruption