Note: The strategy from the past two days needs to be adjusted due to interest rate reversal! The previous "Stablecoin 20% APY" and "ETH 10% APY" both need adjustments. However, the APY can still be maintained around 20% and 10%, but the core of depositing USDC to borrow USDT0 needs to be changed to depositing USDT0 to borrow USDC. The ROE in the attached image is very high, but participation is not recommended! This is because Euler's strategy is not a circular loan, but a circular swap. Swapping will incur losses, and after circular collateralized lending, it evolves into going long on collateral assets and going short on borrowed assets, which can also lead to losses due to the exchange rate issues between the two assets. Stablecoin 20% APY: ETH 10% APY: Note: The above is for information sharing only and is not investment advice. Please do your own research! DeFi Enthusiast: BitHappy

Big Mine: Unichain's ETH yield opportunity, 10% APY! This strategy is the ETH version derived from the "stablecoin 20% APY" posted the day before yesterday, with the core protocols being Morpho and Euler. 📝 Strategy Logic: 1️⃣ Provide ETH in Morpho and borrow USDC without paying interest, or even receiving interest; 2️⃣ In Euler, the APY for depositing USDC is 7.85%, and the APY for borrowing USDT0 is 4.28%; 3️⃣ In Morpho, the APY for depositing USDT0 is 9.38%; Based on the APY at the time of posting, by calculating through the table: investing $10,000 worth of ETH and only borrowing 70% of USDC, the APY can reach 10%, with daily earnings of $2.69. Tip: You can directly withdraw ETH to Unichain through OKX, and the lossless cross-chain for USDC can be done through Unichain's official Superbridge. Note: The above is for information sharing only, not investment advice, please do your own research! DeFi Enthusiast: BitHappy

Is Ethena considered a reverse merger? A Web2 company acquires a Web3 protocol, achieves a listing on the US stock market, successfully issues stocks, and then comes to Web3 through tokenization on the US stock market. Having a protocol with both tokens and stocks might be what US stock market tokenization is all about?

Unexpected BNB HODLer Returns: Caldera ($ERA)! This should be the biggest benefit for BNB holders after stepping into 2025, aside from Alpha. Is it due to the recent surge in ETH, bringing back the focus on infrastructure and narratives, or did Caldera's TGE align perfectly with the timing and circumstances? Four months ago, I paid attention to Caldera and posted an introduction: In one sentence, Caldera: a Rollup engine that supports the rapid creation of any number of high-performance new chains, enabling seamless interaction between multiple chains through the Metalayer full-stack universal cross-chain interoperability solution. Caldera is an integration of the entire Ethereum Rollup solution, very similar to OP's Superchain, but goes beyond just Superchain. According to this research report from Binance: Caldera has provided technical support for about 25% of Rollups, and as Ethereum continues to strengthen, it will awaken everyone's interest in Rollups again, allowing Caldera to continue expanding its share in the Rollup space. However, even with the above background and expected supplements, facing a new coin with an FDV exceeding 1 billion USD, there is some concern about its sustainability. 📝 Analyzing from two perspectives: 1️⃣ From the token unlock perspective, the recent larger unlock will come from 5.16% on 10.17, and before that, there were two unlocks of 1.31% on 8.17 and 9.17; 2️⃣ From the token empowerment perspective, it mainly serves as the universal cross-chain Gas for the Caldera ecosystem and ensures the security of the Caldera network through staking, with other aspects including participation in governance and ecosystem support; ERA's current circulating market cap is 183 million USD, accounting for 14.85% of the total share. Based on proportional calculations, future unlock shares will dilute by about 10% each time over the next two months, but the most concerning is the 5.17% unlock on 10.17, which will directly dilute by about 35%. The consumption and locking of ERA will depend on whether this TGE can drive strong exposure and boost Caldera's market share in Rollups, but more importantly, how long this bull market can last! Note: The above is for information sharing only and is not investment advice. Please do your own research!

Yala has opened airdrop queries yesterday～ To be honest, I knew it would be quick, but I didn't expect it to be this fast, so fast that my account from Sunday wasn't even included in the snapshot (snapshot time 7.8). The first post was on June 28, which means my fans and community partners only had 10 days to get on board, and according to the snapshot rules, many of my friends have been complaining. 📖 The general rules can be summarized in three points: 1️⃣ Participation guarantees a minimum allocation; 2️⃣ If the points are below 1M, the airdrop will be a fixed number of tokens, and the return on investment is far lower than the minimum allocation; 3️⃣ Only those with points exceeding 1M will proportionally share the airdrop; These rules have led to a lot of complaints from those who only meet condition 2 during this period. Based on the time when Yala became widely known, those with a capital amount between $2,000-$20,000 basically fall under condition 2, so they do have an airdrop but it's not the best outcome. 📈 This method can be praised in the following ways: 1️⃣ It protects the project's interests while rewarding all participants in the ecological construction, and it provides sufficient returns for large holders. 2️⃣ Even under condition 2, if small funds participate early enough, they can advance to condition 3. Overall, this time, the interests of medium holders from June 28 to July 15 were sacrificed to ensure the rights of small and large holders. 📉 But what is the reality? Are there any insider trades among conditions 1 and 2? Perhaps only the project team knows. After all, the airdrop is inherently a matter of luck and working with the market makers. Most of my accounts fall under condition 2, and I haven't gained much from the airdrop, but fortunately, as a DeFi farmer, my focus is on APR (I can only comfort myself this way). Note: The above is for information sharing only, not investment advice, please do your own research! DeFi Enthusiast: BitHappy

The incentives for BGT-related tokens are about to drop by 33%! In the past couple of days, the market has been great, with other altcoins rising by ten points, but it only goes up two points before it starts to dump. Last night, it suddenly surged by 10 points, and within five minutes, it started dumping again. Just now, iBGT was affected by the proposal, and its exchange rate with BERA dropped by more than 4 points again! At this point! Community members who bought iBGT some time ago have already chosen to just lie flat. And I can only be thankful that during the last two large-scale discussions among group friends, when there was some FOMO, I didn't go all in! The biggest pitfall record for my friends:

What will Hyperion's FDV be? What are its expectations? Previously, the highest cost of obtaining points through trading was estimated to be around 110 million for its FDV. However, based on my actual Drips points to ROIN token ratio of 72:1, even at the highest point cost, as long as the FDV is above 72 million, everyone who earned points through trading can make a profit. So, as a DEX, how many people are just grinding for points? From a cost perspective, at least DeFi players receive their points for free, and even pure point enthusiasts can reduce their point costs by half in the subsequent xBTC double points event. Moreover, Aptos has always needed an opportunity to restore its reputation, and Hyperion, as the most important DEX protocol on the public chain, has its TGE as an excellent opportunity. Therefore, I speculate that its TGE will allow everyone involved in building its ecosystem to profit. Additionally, Hyperion's performance truly lives up to its status as Aptos's backbone! When I started mining on it at the end of April, its TVL had just surpassed 10M, and now it has reached 113M. Due to its APR flywheel design, its trading volume has consistently exceeded its TVL. However, for valuation analysis, people are more accustomed to looking for comparison objects, such as frequently comparing SUI, which belongs to the same MOVE system as Aptos. ➤ Currently, @SuiNetwork has two protocols that can be used for comparison. 1️⃣ The already issued Sui leading DEX @CetusProtocol: If Cetus hadn't been hacked, it wouldn't be a good comparison object since Sui is significantly stronger than Aptos. But after the hack, Cetus is still a suitable comparison object; its market cap has dropped from a peak of 490 million to now 100 million, while still bearing debts (as it slowly compensates user losses). 2️⃣ The strongest competitor among the unissued Sui leading DEXs @MMTFinance: Rumor has it that MMT's last round of financing was valued at around 170 million USD, so to ensure investors do not lose money, MMT's FDV needs to be above 170 million. Through the comparison of these two protocols, it can also be seen that Hyperion's estimated FDV is not an exaggerated figure. However, I prefer to believe in Aptos's determination to do well in its ecosystem this time. On one hand, the market cap needed to break even on points is 72 million; if it cannot reach that, Aptos will be drowned in criticism again! On the other hand, during the past two months of Hyperion's data surge, many new DeFi protocols have emerged on Aptos, continuously exposing some core protocols in the APR flywheel, which can revitalize the entire Aptos DeFi ecosystem. If Hyperion cannot maintain a good image/market cap, then Aptos's hopes will be dashed! That's all. I hope @hyperion_xyz's TGE goes smoothly, and I also hope @Aptos develops well, as only then can I have more mines to dig! Note: The above is for information sharing only and is not investment advice. Please do your own research! DeFi enthusiast: BitHappy

Yala's APR on Pendle as well as the spin-off protocol rises to around 20%! Compared to last week's APR, it's almost doubled! I would have guessed that the Yala team was bribing the election with the ability to pay money in Pendle, which increased the APR. Ask the community's Pendle and EQB OG and say it may have been because of the chaos in the Pendle vote last week, which led to Yala lying to win. Maybe it's a combination of both. But, in any case, Pendle-related APR is now more attractive than RateX. If you transfer your RateX position, you need to worry about the Pendle vote next week that may lead to a decrease in Yala's earnings (OG predicts that next week's vote will not be chaotic). However, today is a good time to change positions, after all, Ethereum's gas is relatively low over the weekend. As a further aside, Yala's TVL skyrocketed from 150M to 200M the other day, and with new Genesis NFTs tomorrow, there may really not be much time left. In addition, the PT part of Pendle LP cannot enjoy points, according to the current LP components, PT accounts for about 30%, so the actual points that can be obtained are only 70% of 6 times, that is, about 4.2 times. Note: The above is only for information sharing, not investment advice, please do your own research! DeFi enthusiasts: BitHappy

Yala Gives Genesis NFTs for Free? U-card? No, I think it's more like "the key to a good mine"! In Pump Pump's tweet, the use scenario of Yala, a genesis NFT, has been described in detail, with interest and U cards at its core. U cards solve the problem of crypto-native payments, and interest-bearing is Yala's core business. A few days ago, the Lite mode opened in Yala has a fixed APR limit of 12%, and many friends have not grabbed the quota. When similar good mines are opened in the future, Genesis NFTs can be used as the key to the mine. For example, giving preferential mining rights or additional interest rate hikes, this special benefit is worthy of the name of Genesis! So, the whitelist is definitely worth fighting for, and if you don't have a whitelist, you can also keep an eye on next Monday's free mint, and there are still 1200 slots. Also, will there be additional airdrop weights for this? Moreover, its TVL has suddenly soared in the past two days, and now it has reached 211M, and the expected two-month TGE is likely to be brought forward. I have already been given one of the white list slots for Pump Pump, and I will also give away four slots to my friends in the community today! Note: The above is only for information sharing, not investment advice, please do your own research! DeFi enthusiasts: BitHappy