ethena trades at $0.20 below the $0.29 institutions paid in september's dat round. protocol generates $365m annually at 4.3x p/s ratio. jupiter launching jupusd next week backed by usde to 5m users. hyena on hyperliquid hit $130m volume in 4 days. megaeth using usde for their l1 stablecoin. berachain's honey 100% backed by usde. funding rates turning positive again. institutions don't buy 45% above spot to lose money. ...

jupiter lend accepting jlp as collateral creates a leverage loop nobody's pricing in. deposit sol for jlp, use jlp to borrow jupusd, swap jupusd for more sol, repeat. $600m jlp tvl becomes recursive liquidity. jupusd launches next week and early lenders get 3x the rates before competition notices the arb ...

jupiter launching jupusd with $750m backing to capture $303b annual solana stablecoin flows. they control the #1 dex aggregator interface. make jupusd the default pair across trading lending and perps and you force adoption through pure friction. $jup at $1.75b market cap controls the rails that process billions daily. ethena provides the treasury backing jupiter provides the distribution monopoly ...

🚨JUST IN: @ETHENA_LABS AND @JUPITEREXCHANGE PARTNER TO LAUNCH $JUPUSD, A NATIVE SOLANA STABLECOIN ...