More USDT exists than there are US dollars in the M0 base of several mid-sized countries.
More USDT exists than there are US dollars in the M0 base of several mid-sized countries.
The Pendle WBTC vault curated by MEV Capital is dedicated to providing capital to the BTC LSTs PT markets from Pendle. This vault serves correlated markets only and aims to optimize both liquidation risk management and APR from leverage loopers.
The honest version. Every structural failure mode this vault is exposed to, ranked by severity. If you want to know whether to invest, start here.
Cap-weighted utilization is 95.5%, leaving little idle buffer. Large same-day redemptions may queue behind active loan repayments.
Weighted LLTV across markets is 94.5%. Sharp collateral drawdowns can trigger cascading liquidations faster than vault parameters can be adjusted.