$ENA surged 15% after they announced their 2025 Roadmap The 2025 plan is to package $sUSDe into a compliant iUSDe Advancing CeFi/TradFi traditional financial products and funds such as ETFs The goal is to grow 4x through this strategy While @pendle_fi's Ethena system on YT has recently fallen to low levels Those who want to capture the potential of the $ENA Q3 airdrop can keep an eye on it

2/ For example, this March YT-USDe Although there is no underlying sUSDe interest But there is 50x Sats (sUSDe YT is only 30x at most) Purely optimistic about $ENA This USDe YT is now a little cheaper than sUSDe

3/ This February sUSDe YT Because the underlying interest income from the funding fee has recently declined, it has also fallen a lot If you are optimistic about the bullish return of the funding fee, and you are optimistic about $ENA YT-sUSDe, you can double-click

4/ Other Ethena YT references Based on the current $ENA $18B FDV valuation Overall, these YTs are not too expensive Of course, DYOR I plan to add some positions when gas becomes cheaper NFA End🔚

In other words, FDV has doubled compared to November, but YT valuation has only increased by about 30% compared to November. Of course, this may reflect the market's conservative view on future airdrops or unlocking factors.