I just bought some more sNUSD YTs because Pendle is showing the wrong underlying yield and it's pushing IY down.
@Neutrl is actually yielding ~19% APY but is showing 6% APY because Neutrl just changed how they distribute yield.
Previously, they were distributing the prior week's yield in one 8-hour blast once weekly.
Now they're distributing the previous week's yield over a 7-day period (which is fairly industry-standard).
But, because Pendle hasn't accounted for this change yet, the "Underlying Yield" looks super low, despite being actually fairly high.
The low UY on the UI made the IY go down. Try explaining that sentence to your mom over Christmas dinner.
So, I snagged some YTs here assuming Pendle, the capital chaps that they are, will fix this soon and people will buy up the YTs again realizing they're currently getting paid to farm points.
Which means I'm currently getting paid about 44% APR to get free points.
Note: Neutrl enjoyer and ambassador
