Pendle price

Not sure it makes sense to compare prediction markets and DeFi in terms of TVL. As @MessariCrypto analyst notes, they are structurally different. Btw, Pendle strategies expire regularly as well.

Once upon a time, there was a king who had a "golden spring." This spring produced a little gold every day, as long as he was not greedy and did not disturb it, it would continuously yield. But the king was too impatient, always wanting the spring to flow faster, so he built canals, dug branches, and created machines, which instead made the spring muddy and difficult to control. It sounds like a fable, but in DeFi, this is actually reality. Many projects want to "squeeze out higher returns," but as the system becomes more complex, the risks increase. This morning, after breakfast, when I saw an update from @Theo_Network, I suddenly thought of this story. Theo is like that non-greedy king: not chasing high profits, but creating verifiable, composable, and self-consistent cash flow systems. S2 points have already started, and this season feels more like a game of "cash flow building blocks." You can use thBILL to earn base points; you can also lend USDC by putting PT-thBILL into Morpho; or go directly to Pendle to do LP and lock in ticket interest. Three paths connect with each other, forming a logical closed loop. At the same time, the 5th DRIP epoch is still progressing, favoring those users who truly have borrowing needs—especially suitable for using thBILL or PT-thBILL as collateral to stack external incentives. Looking ahead, Pendle's thBILL pool is set to expire later this month, and as it approaches, discounts and premiums will occur more frequently, making it a good time for monthly swaps and split arbitrage. In my view, @Theo_Network's core advantage lies in "composable real yields": On Morpho, the LTV of thBILL/PT-thBILL can reach up to 91.5%, with proper risk control; After stacking DRIP, efficiency, points, and stable returns can be obtained simultaneously. My thinking is simple: hold a small position → borrow moderately → choose the right time for LP, not being greedy, and prioritizing risk control. This is not investment advice, just a prudent way I found to draw water from this "golden spring." #thBILL #RWA #Arbitrum