Pendle processed $58b in fixed yield. $45m annual fees. 80% of protocol revenue now funds buybacks for sPENDLE stakers. emissions cut 30%. revenue up 790% in 30 days. Arthur Hayes sold at $990k loss. team dumped $10.6m to CEXs in January. insiders exiting but the flywheel is just starting to spin. you need to decide who's wrong.