Check out my casting heat map generated via 2025 Farcaster Wrapped! 🎉
📊 654 casts
❤️ 1156 likes
💬 271 replies
🔥 33 day streak
My Besties in 2025 were @goldie@chicago@v@dwr@kompreni
Not a good look to arbitrarily stop a rewards campaign, especially when trust is such an important factor for a wallet. You clearly knew there was a limit, this should have been stated up front
Roughly 50% apy, so great return, but feels weird, why are you running this promo? Just to pump wallet usage stats and adoption? I dk if I trust the farplet with 5k yet, have you done independent audits? I'm worried about the extra insentive of compromising fc wallets now that many will have 5k of usdc sitting in them.
Pendel overall is a pretty simple concept, but it is a complicated execution (needs to be to achieve its goals)
First thing to remember is that almost all yield-bearing tokens like stETH are not a fixed apy. For stETH the yield can change over time from the underlying yield of the staked ETH and the demand for the token.
Pendel splits the underlying/principal token (PY) and the yield (YT) into their own tokens. So if you think the yield/apy of stETH will go down in the future, you can buy PY at a discount that is redeemable for the full price at maturity to lock in the current apy. If you think the yield/apy will increase you can buy just the rights to earn the yield through the YT token. This is typically priced at what the current yield is, so you can buy much more YT than PY as it is just the right to receive yield/reward of the staked token.
If you own PT and YT it would be the same as owning plain stETH.
