I think the premium is quickly getting eroded with the flurry of DATs that are emerging. But agree with @gdog97_ , if there is liquidity, there is nothing wrong with putting a wrapper on to appeal to a different set of buyer. Time will tell good assets apart from bad assets.
G | Ethena
G | Ethena25.7.2025
Seems as though the DAT phenomenon is quite divisive, wanted to share some thoughts on why we thought this was a worthwhile pursuit:
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