TN (Pendle) on Stable Yield (EP.623)

Bullish:

• $USDC - There's a shift towards USDC for protocol fee distributions, indicating growing preference for this stablecoin in the DeFi ecosystem.

  • “Previously up until recently, it was ETH, but this month onward, it would be USDC.”

    Tien·16:31
• $STABLES - Growing demand for USD-denominated stablecoins due to their global acceptance and ease of accounting, with protocols increasingly preferring stablecoin payouts.

  • “I think now more and more protocols generating revenue, they would prefer to do the payouts in stablecoins or one of the major assets.”

    Tien·14:47

  • “I think in the near term, the demand for US dollar denominated stablecoins will continue to dominate because it is still the most accepted currency anywhere, and it just makes accounting a lot easier.”

    Tien·16:45
• $ATHENA - Athena's team is praised for their competence, clear vision, and strong execution, suggesting potential for success in the DeFi space.

  • “I think they're not quite the first mover, but I wanna say they are definitely one of the most competent teams that we've worked with. Guy and his team, they have a very clear idea of where they wanna be, and their execution is actually very, very strong.”

    Tien·19:32
• $DEFI - DeFi activity is expected to concentrate around a few core protocols due to user familiarity and trust, with potential for Bitcoin yield generation in the future.

  • “So I maintain the view that yield on Bitcoin is quite inevitable. But right now, we don't have a very good way to generate yield on Bitcoin.”

    Tien·24:31

  • “I think activities will likely concentrate around a few core protocols. I think people generally gravitate toward familiarity.”

    Tien·28:49