[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Cheeezzyyyy [@0xCheeezzyyyy](/creator/twitter/0xCheeezzyyyy) on x 6974 followers Created: 2025-07-25 01:33:36 UTC Pendle's early integration with @Terminal_fi is more than just another 'yield opportunity'. This signals the dawn of a new financial era: The convergence of TradFi <> DeFi-native primitives at the most foundational level. This is herald by Converge (built on @arbitrum): a strategic TradFi-oriented partnership with @ethena_labs @Securitize well-positioned for institutional money. The motivation stems from a strong 'new' thesis for institutional adoption as TradFi start recognising the the powerful synergies DeFi unlocks. The Converge ecosystem is led by some of the most institutionally-aligned forces in DeFi starting off with Terminal Finance, capitalising on Ethena & Pendle at the forefront. Its credibility stems not just from speculative traction, but from a well-engineered financial stack: 🔸 DeFi-native foundations with deep integrations + composability 🔸 Strong CeFi externalised distribution 🔸 Closed-loop early institutional participation All of this adds up to a robust primary layer that cements the structural groundwork for the wider institutional access. ------ The Next phase: Secondary Layer Formalisation This marks the final stage of externalisation towards a fully TradFi-attuned ecosystem, built on: 🔹 TradFi strategic distribution 🔹 Regulatory compliance architecture 🔹 Institutional-grade liquidity coordination With a bottom-up approach, Terminal Finance serves as the core anchor to Converge's TradFi-oriented liquidity hub of this whole financial stack designed for institutional trading. The entire ethos of ‘Money Legos’ that defined early DeFi was built on one principle: composable liquidity. But composability means nothing without accessible, deep & reliable liquidity. That’s exactly where TerminalFi steps in as a cornerstone of the Converge ecosystem. Far more than just another DEX, it is engineered to be: 1️⃣ Primary Ecosystem Enabler → Robust secondary marketplace tailored for insti-grade assets + YBS 2️⃣ Capital Efficient → Optimised design via mitigating price drift + IL for superior liquidity provision returns 3️⃣ Inclusive Accessibility → Both permissionless & eventually KYC/KYB-version for compliant institutional RWA trading It’s clear that Terminal is purpose-built as an institutional-grade primitive, offering a distinct & compelling value proposition. Moreover, in the absence of a token roadmap from Converge, Terminal effectively serves as the nearest native proxy for capturing Converge’s potential upside. ------ On Choosing a Strategic Dual-Synergy: Pendle x Ethena Terminal’s YBS thesis led to a strategic choice of sUSDe as the base asset, while launching in-tandem with Pendle on day-1 cements this alignment. And it’s no coincidence at all. While @ethena_labs scaled to over $6B supply in under a year, @pendle_fi has been instrumental in this growth: 🔸Over XX% of sUSDe supply was tokenised through Pendle during the climb from $1B → $4B 🔸 XX% peak utilisation at $6B supply This level of retentive utilisation on Pendle proves market fit for tokenised yield (fixed + variable) within DeFi-native portfolios. But more importantly, it highlights the flywheel effect between Ethena <> Pendle: A mutually reinforcing synergy where Pendle drives usage → Ethena scales supply → both amplify each other's value across the ecosystem. The synergy doesn’t stop there. Ethena & Pendle are poised to go far beyond DeFi users. Together, they aim directly at the institutional opportunity: X. Fixed-Yield Products ($190T market in TradFi) X. Interest Rate Swaps (Even larger $563T market segment) Through Converge's accredited & regulated distribution channel, the missing bridge to institutional allocators through is now in place. This unlocks broad access to crypto-native return sources that are faster, composable & yield-centric by design with Terminal as the key liquidity anchor & distribution layer. ------ On Early Opportunities: Roots Access Program Phase X Needless to say, Pendle's involvement which unlocks financial potential from the YBS primitive. Terminal’s simultaneously comes with Pendle's launch on pre-deposit for LP tokens for initial pools: 1⃣ $tUSDe: sUSDe/USDe pool 2⃣ $tETH: wETH/weETH (by @ether_fi) pool 3⃣ $tBTC: wBTC/eBTC (by EtherFi) pool *These pools are uniquely designed for single-sided beta exposure + minimising IL risk for convicted & retentive LP-ing. The early bootstrapping phase comes with exclusive multipliers on Pendle which are time-sensitive: 🔸15x-60x multiplier on Terminal Points (vs. 10-30x on direct deposit 🔸50x Sats multiplier for $tUSDe & 3x EtherFi multiplier for $tETH 🔸Up to XXXXX% LP APY on top of yield + points with single-sided exposure & negligible IL 🔸11.26% fixed APY on $tUSDe 🔸Highly capital efficient YTs exposure → 51%–340% (yield + points) Clearly, there is no other avenue offering such strategic opportunities on an early emerging institutional primitive. ------ Final Thoughts Zooming out, Converge establishment signifies the financial OS for the next economic primitive. Incase you still can't see it: ♦️Ethena brings the yield-bearing dollar ♦️Pendle enables the yield structuring layer ♦️Terminal leads the institutional market access Together, they form the backbone of a one-of-a-kind onchain interest-rate system that is composable, scalable & ready to meet the trillions in global fixed income seeking better yield. This is the real unlocking of institutional DeFi. And it's already begun.  XXXXXX engagements  **Related Topics** [money](/topic/money) [ethenalabs](/topic/ethenalabs) [convergence](/topic/convergence) [dawn](/topic/dawn) [signals](/topic/signals) [Post Link](https://x.com/0xCheeezzyyyy/status/1948557211674050908)
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
Cheeezzyyyy @0xCheeezzyyyy on x 6974 followers
Created: 2025-07-25 01:33:36 UTC
Pendle's early integration with @Terminal_fi is more than just another 'yield opportunity'.
This signals the dawn of a new financial era:
The convergence of TradFi <> DeFi-native primitives at the most foundational level.
This is herald by Converge (built on @arbitrum): a strategic TradFi-oriented partnership with @ethena_labs @Securitize well-positioned for institutional money.
The motivation stems from a strong 'new' thesis for institutional adoption as TradFi start recognising the the powerful synergies DeFi unlocks.
The Converge ecosystem is led by some of the most institutionally-aligned forces in DeFi starting off with Terminal Finance, capitalising on Ethena & Pendle at the forefront.
Its credibility stems not just from speculative traction, but from a well-engineered financial stack:
🔸 DeFi-native foundations with deep integrations + composability 🔸 Strong CeFi externalised distribution 🔸 Closed-loop early institutional participation
All of this adds up to a robust primary layer that cements the structural groundwork for the wider institutional access.
The Next phase: Secondary Layer Formalisation
This marks the final stage of externalisation towards a fully TradFi-attuned ecosystem, built on:
🔹 TradFi strategic distribution 🔹 Regulatory compliance architecture 🔹 Institutional-grade liquidity coordination
With a bottom-up approach, Terminal Finance serves as the core anchor to Converge's TradFi-oriented liquidity hub of this whole financial stack designed for institutional trading.
The entire ethos of ‘Money Legos’ that defined early DeFi was built on one principle: composable liquidity.
But composability means nothing without accessible, deep & reliable liquidity.
That’s exactly where TerminalFi steps in as a cornerstone of the Converge ecosystem.
Far more than just another DEX, it is engineered to be:
1️⃣ Primary Ecosystem Enabler → Robust secondary marketplace tailored for insti-grade assets + YBS
2️⃣ Capital Efficient → Optimised design via mitigating price drift + IL for superior liquidity provision returns
3️⃣ Inclusive Accessibility → Both permissionless & eventually KYC/KYB-version for compliant institutional RWA trading
It’s clear that Terminal is purpose-built as an institutional-grade primitive, offering a distinct & compelling value proposition.
Moreover, in the absence of a token roadmap from Converge, Terminal effectively serves as the nearest native proxy for capturing Converge’s potential upside.
On Choosing a Strategic Dual-Synergy: Pendle x Ethena
Terminal’s YBS thesis led to a strategic choice of sUSDe as the base asset, while launching in-tandem with Pendle on day-1 cements this alignment.
And it’s no coincidence at all. While @ethena_labs scaled to over $6B supply in under a year, @pendle_fi has been instrumental in this growth:
🔸Over XX% of sUSDe supply was tokenised through Pendle during the climb from $1B → $4B 🔸 XX% peak utilisation at $6B supply
This level of retentive utilisation on Pendle proves market fit for tokenised yield (fixed + variable) within DeFi-native portfolios.
But more importantly, it highlights the flywheel effect between Ethena <> Pendle:
A mutually reinforcing synergy where Pendle drives usage → Ethena scales supply → both amplify each other's value across the ecosystem.
The synergy doesn’t stop there.
Ethena & Pendle are poised to go far beyond DeFi users. Together, they aim directly at the institutional opportunity:
X. Fixed-Yield Products ($190T market in TradFi) X. Interest Rate Swaps (Even larger $563T market segment)
Through Converge's accredited & regulated distribution channel, the missing bridge to institutional allocators through is now in place.
This unlocks broad access to crypto-native return sources that are faster, composable & yield-centric by design with Terminal as the key liquidity anchor & distribution layer.
On Early Opportunities: Roots Access Program Phase X
Needless to say, Pendle's involvement which unlocks financial potential from the YBS primitive.
Terminal’s simultaneously comes with Pendle's launch on pre-deposit for LP tokens for initial pools:
1⃣ $tUSDe: sUSDe/USDe pool 2⃣ $tETH: wETH/weETH (by @ether_fi) pool 3⃣ $tBTC: wBTC/eBTC (by EtherFi) pool
*These pools are uniquely designed for single-sided beta exposure + minimising IL risk for convicted & retentive LP-ing.
The early bootstrapping phase comes with exclusive multipliers on Pendle which are time-sensitive:
🔸15x-60x multiplier on Terminal Points (vs. 10-30x on direct deposit 🔸50x Sats multiplier for $tUSDe & 3x EtherFi multiplier for $tETH 🔸Up to XXXXX% LP APY on top of yield + points with single-sided exposure & negligible IL 🔸11.26% fixed APY on $tUSDe 🔸Highly capital efficient YTs exposure → 51%–340% (yield + points)
Clearly, there is no other avenue offering such strategic opportunities on an early emerging institutional primitive.
Final Thoughts
Zooming out, Converge establishment signifies the financial OS for the next economic primitive.
Incase you still can't see it:
♦️Ethena brings the yield-bearing dollar ♦️Pendle enables the yield structuring layer ♦️Terminal leads the institutional market access
Together, they form the backbone of a one-of-a-kind onchain interest-rate system that is composable, scalable & ready to meet the trillions in global fixed income seeking better yield.
This is the real unlocking of institutional DeFi.
And it's already begun.
XXXXXX engagements
Related Topics money ethenalabs convergence dawn signals