Reading some things about $PENDLE and it’s correlation with STRC.

TLDR; most of the protocol’s revenue goes back to the holders through buybacks and staking rewards and not just emissions. As STRC usage and TVL grows -> creates more buy pressure on PENDLE and also boosts yield for people staking it. Basically a direct bet on STRC through PENDLE.

I’m going to scale bids on it from here down to $1.40’s with an invalidation at $1.20~