New Destination for Stablecoins - Termial with Pendle In recent days, I have been thinking about one thing: how to find a beta investment opportunity for my stablecoin that falls between high-risk (buying and holding cryptocurrency directly) and low-risk (simply earning coins by throwing them into Okx) when the market warms up again. My simple definition of market heat here is: Funds began to participate more in market activities, funding interest rates began to rise, and financial levers such as Defi began to rotate (ENA began to rise, BFUSD returns increased, and stablecoin interest rates in Aave and CEX began to fluctuate upwards)... ） At this point, it is once again possible to set a stable coin yield target of over 15% annualized, rather than relying on ponzi type bets that run fast. After reading the article by @ endle_grandma and carefully studying the relevant information about @ Terminal_fi, I think this target is quite good and I have also put some funds into it. However, most of the content discussed in the market is quite rigorous and obscure, which may not be very user-friendly to read. Today, I will briefly explain Terminal based on my own understanding. ~~~~~~~~~~~~~~~~~~ To explain the status of Terminal, we have to mention two other companies: @Ethena_1abs and @ convergenchain (a settlement layer 1 that connects traditional finance (TradFi) with on chain US dollar assets) Terminal is the dex on the Converge ecosystem and also the liquidity hub. Imagine a future financial market: Ethena is like a 'mint', issuing USDe (stablecoins similar to the US dollar) and ENA (governance warrants). Converge is a "financial city" that includes both a "marketplace" where ordinary people can freely trade (permissionless DeFi) and a "banking area" dedicated to large institutions (licensed TradFi). http://Terminal.fi It is the 'financial supermarket' in this city, allowing users to conveniently buy, sell, store, and invest USDe and other assets. If described in a simple sentence, http://Terminal.fi Just like a "service area" on the Converge highway, it provides users with refueling (liquidity), rest (staking profits), and navigation (convenient trading experience). These three together form Ethena's grand Defi ecosystem and represent a major trend in DeFi: The integration of traditional finance and decentralized finance At present, the total lock up volume (TVL) of DeFi is about $100 billion, while the size of the global financial market is in the trillion dollar range. Converge hopes to attract institutional funds into DeFi and unleash enormous growth potential through Ethena's stablecoins and Securitize's tokenized assets. http://Terminal.fi Make this process more user-friendly for ordinary users. Everyone knows a truth, when a large piece of lard passes through your hand and is handed to someone else, your hand will also be covered in lard. So as long as there are no security risks, there is theoretical support for your stablecoin investment to have higher returns than other places. ~~~~~~~~~~~~~~~ After explaining the principle, let's take a look at how to play: Firstly, it should be noted that Converge does not have its own coins, so Terminal's TML is likely to capture most of the ecosystem's value. Therefore, we need to decide whether to fully invest in airdrops or steadily invest in APY. At present, @ Terminal_fi is in the pre deposit stage, but TVL has grown rapidly, reaching 141M in about two weeks. The assets that can be deposited currently include USDe ETH and WBTC. I would recommend storing USDe here because since the main focus is on the combination of traditional finance and Web3, they naturally prefer stablecoins with lower volatility risk rather than BTC and Ethereum. In fact, from the TVL ratio, tUSDe does account for over 70% of the market share. Of course, if you have ETH in hand for financial management, there is no problem, and you can also earn Etherfi points, so TVL is actually quite good now. Although it can be directly saved on the official website, as a senior user of @ pendle_fi, I strongly recommend that everyone use Pendle to play. reason: ▶️ You can choose your own risk preference. If you are more radical and want to gain profits from Terminal's airdrop TML. So you can buy Yt and get up to 60 times Roots points+50 times Sats points+floating annualized returns (Roots are TML points, Sats are ENA) If you are conservative and want a stable high annualized return on investment. So you can buy Pt, 14.5% is already several times higher than the stable earnings in most CEX. ▶️ Pendle itself is the most important revenue distribution center for on chain finance in the future, and currently accounts for more than half of Termial TVL. It is worth mastering participation skills proficiently, and the incentives are higher than directly depositing profits through official channels. I must remind everyone here: There are no rewards for purchasing both YT and PT at the same time, so if you want to do both strategies, it's best to split the numbers. ~~~~~~~~~~~~~~~ Here are several main portals: ✅ Pendle Deposit: https://app.pendle.finance/trade/markets?search=ter ✅ Official Termial: https://terminal.fi/?ref=IPYZSMWQ Pendle official guru's related tweets reference: ✅ https://((x.com))/ViNc2453/status/1943550630448238846 ✅ https://((x.com))/pendle_grandma/status/1943594283065368768