In a little over 6 months, $USDai has grown to $660m and cemented its position as a top 20 stable. While there's no single event that drove this, the impact of a Pendle listing clearly shows itself on the chart. Yep - 80c for every $1 in @USDai_Official comes from Pendle 👀

One of the underappreciated aspects of Pendle's design is that 5% of all yield - INCLUDING POINTS - accrues to the protocol as fees. This means every vePENDLE holder gets access to point programs ON TOP of the existing yield distributions. That's NOT BAD AT ALL.

How significant is this? Well, of the $28m that's been distributed YTD, ~$8.6m comes from point fees! It's a cool play on EVERY point program without needing direct exposure! NFA NLA NMA MDMA Pendiddler