PT tokens surge to 15%+ fixed yield rates during market panic, with only 8-9% during normal times. The Ethereum Foundation just allocated $7.5 million to Morpho vaults using PT strategy.


Institutions need fixed rates, while retail investors want floating rates. The price spread between PT-USDG panic pricing and normal pricing is DeFi's cleanest volatility trade.
crvUSD maintained $1.00 with zero bad debt when ETH crashed 30%, while DAI depegged to $0.95. That's the difference.
ETH-2,11%
MORPHO-2,41%
CRVUSD0,43%
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