PENDLE IS NOW LIVE ON HYPEREVM Time to do some points math. We're 1.5 weeks into the 6-week pre-deposit campaign for beHYPE. That means there's 75% left (~31 days). Here's what that means for liquidHYPE🧵👇

I'm assuming that after the beHYPE pre-deposit campaign ends, the only yield on liquidHYPE will be the native staking yield (2%). The current IY is 13.6%. SO, we can find out how the points campaign is valued by using a weighted average. 13.6% = (25% * X) + (75% * 2%)

In this case, X = 48.4% To reiterate, what I'm suggesting is the pre-deposit campaign (25% of the duration of the Pendle market) is being valued at 48.4% IY. And the rest of the duration (75% of the time) is being valued at 2% IY. (25% * 48.4%) + (75% * 2%) = 13.6%

That's actually pretty dang good. That's roughly an extrapolated $100M FDV.

That said, the IY is super volatile this morning, so let's see where it lands. There's also a good chance the Pendle position continues to be incentivized after the campaign with either a S2 or with token incentives. SO efficient markets will build in that speculative IY.

Note: Pendle Maxi and Ambassador, Hyperbeat Enjoyer