After researching the new launchpool project etena, I found that the timing of this project's launch is very clever.

As we all know, since February and March this year, the extreme tilt of bullish sentiment has led to a surge in long-selling rates, which has increased the yields of many quantitative teams, spot and current rate arbitrage, and the familiar USDT high-value financial management on exchanges. Its underlying assets are also a structure that aggregates multiple arbitrage products.

The Ethena project, on the surface, is an Ethereum stablecoin. The actual core is an arbitrage product, that is, a spot hedging contract with short orders. The profit and loss is balanced through an algorithm. The income comes from the long-term fee rate. This is a balance in the current bull market atmosphere. The dual advantages of high returns + financial security.

So I think this project has stepped into a good time point, because arbitrage income is inherently unstable. Some time ago, BTC fell from 7.3 to 6.1, and the rate visible to the naked eye quickly balanced, and then returned to the level as it rose. to a high position. The sUSDe Apy announced by the project team in the picture is 35.4%, but the annualized arbitrage rate was only 15% last year, but it can reach more than 100% from February to March.

As for the currency price expectations, if the market rises in the future, then ENA still has potential. Aevo quotes 1u, and the initial liquidity is 9.5%. I think 0.2-1 is a reasonable price, but if it falls below 0.2, you must be careful, because According to project financing valuation, 0.2 is a relatively conservative bottom price.