@lordjorx

Money markets are sleeping on Senior tranches. A Senior tranche is about to come through a genuine stress event without taking a single loss. Share value held through weeks of STRC volatility. That's a proof of concept most collateral types can't claim. Why it matters: > Downside protection. > Competitive yield. > Cheap borrowing against the position. Once @apyx_fi apyUSD's Observation Period ends and @MicroStrategy raises STRC dividends, yield flowing to tranches will be even higher. The catch: During the Observation Period, all Senior yield is redirected to Junior. That can temporarily create negative carry. It's the tradeoff: lower yield during stress in exchange for downside protection. @Morpho curators, money markets, and CDPs should be paying attention. If you're interested in distributing Senior tranches, my DMs are open.

Every protocol with redemption queues needs this. @roycoprotocol vaults have 30-day redemption periods. @agra_gg adds a secondary market for those shares so holders can exit early at a discount. Royco already had a secondary route through Curve. Agra is another one. Some Royco markets can also freeze during Observation Periods. During these times, either juniors nor seniors can interact with the market at all. Through Agra, shares can still change hands at whatever discount or premium the market agrees on. What I think is more interesting: > Juniors could exit during observation periods (if minimum coverage was met) realizing losses, but couldn't enter. Agra provides this entry route. > If MicroStrategy STRC repegs to $100, the junior tranche could roughly a 2x. With Agra, you can start trading these things. Super interesting collab here.

Bluewater bought every layer of Sui DeFi. @suilendprotocol, @steammfi (AMM), and @springsui_ (liquid staking) are now under the same company. Suilend is Sui's main money market, built by the Solend team (very famous on Solana). The borrow rate on USDsui sits below 1%. The Sui network subsidizes borrowers with ~4% in sSUI rewards, which is what produces that number. > @EmberProtocol strategies, my favs on Sui, already yield ~10%. Borrow at 4% on top, and can be easily looped. > Isolated market depositors earn 7.7% on USDsui > BLUE token incentives pull stablecoin liquidity into those markets Names don't change. They just build together full-time now and work together to grow. Cross-protocol cooperation is what we need.

Junior up 50% from the low. Still 9 days left. @roycoprotocol Junior tranche moved from 0.42 to 0.61 today. The trigger was $STRC bouncing from sub-$72 to above $82 after @saylor posted an update on how he's managing the situation. The observation period is doing exactly what it's supposed to. Compare to @strata_markets: their Junior sits at 0.22. Royco's is 3x that right now. One thing easy to miss: share price movement here isn't linear. As juniors withdraw capital, coverage shrinks, and swings in either direction become sharper. > Fewer juniors in = higher yield per unit for those who stay > But thinner coverage also means harder drawdowns when things go the other way $STRC is the only variable that matters now. 9 days until the Observation Period ends.

Hyperliquid Outcomes daily volume is nearly $5M. A few weeks ago it was barely $1M. The gap to @Polymarket is now less than 20x. > $51M in Open Interest, but ~$25M of that is the World Cup final market alone. Don't take that number seriously; I guess @DefiLlama is wrong here. > @Kalshi is currently #1 in prediction markets and growing faster than Polymarket. > Everything live right now is sports. Political events and major global moments haven't opened yet. The $HYPE weekly chart shows RSI divergence, and I expect the price to range around this level for some months. However, fundamentals keep growing, and that's what I want to see.