Cena Wrapped eETHweETH

Not sold. Not staked. Not locked. Just… gone. Some were sent to the wrong address. Some locked behind lost keys. Some burned as part of Ethereum’s transaction mechanism. But the result is the same: those tokens are permanently out of circulation. And when you zoom out, the numbers get even more shocking. Including EIP-1559 burn mechanics, over 5% of all existing ETH has been removed from supply forever. For traders, this isn’t just a fun fact. It’s a signal. Because in markets, scarcity drives value. And Ethereum is getting scarcer every single day. Since the London hard fork (EIP-1559), Ethereum started burning a portion of the base fee with every transaction. During periods of high activity, this mechanism burns tens of thousands of ETH in a matter of days. The higher the gas usage, the more ETH is destroyed. But that’s just the mechanical part. Outside of EIP-1559, thousands of ETH have been permanently lost due to simple user errors sending funds to unspendable contracts, wallet mishandling, or cold storage that’s been permanently disconnected. These are mistakes that can never be reversed. On-chain forensics has verified many of these wallets haven’t moved in years and likely never will. That changes Ethereum’s narrative. It’s no longer just the fuel for Web3 it’s becoming a deflationary store of value, in real time. traders should take note. When supply is actively decreasing and demand trends upward especially with growth in L2 usage, DeFi, NFTs, and RWAs the long-term value proposition strengthens. It’s not just about ETH’s current price action; it’s about a structurally changing asset that could mimic Bitcoin’s scarcity dynamics in a more programmable way. In the short term, ETH may still fluctuate with macro trends or risk appetite. But this long-term deflationary pressure acts like a coiled spring and could explode when network activity surges again. If you're trading ETH on Bitget, watch for gas spikes. Monitor burn rates. And most importantly, factor in the decreasing float. Because every lost or burned ETH increases the value of what’s left. Ethereum isn’t just being used. It’s being erased. $ETH $BTC $NEIROETH $ADA $BGB $XRP $DOGE $WEETH

The difference between an AAVE and Morpho on Base is that Morpho users tend to heavily borrow alt. tokens other than ETH and stables and then deposit more stables. Aave users usually deal with stables and ETH. This means that Morpho's main advantage on Base is in alternative tokens like cbETH, BTC, and weETH, and fighting an incentive war on stables and ETH may be wasteful. However, not all is lost because, if you twist the scenario, Morpho subtly counter positioners AAVE when it comes to these alt. tokens. In terms of cross selling, sequentially speaking when they first handle these alt. tokens, they tend to trade more of them then move into stable deposits. Therefore, the incentive might be to get these users to deposit or borrow more stables after they have borrowed or deposited these alt. tokens. It's trickier for AAVE to cross-sell these alternative tokens towards other tokens, which again confirms that fighting a war directly on stables and ETH is difficult. They should focus on cross-selling. (Likewise, incentivising for such tokens on Arb may not be very helpful, especially when fighting against the entrenched AAVE.)

Pendle's early integration with @Terminal_fi is more than just another 'yield opportunity'. This signals the dawn of a new financial era: The convergence of TradFi <> DeFi-native primitives at the most foundational level. This is herald by Converge (built on @arbitrum): a strategic TradFi-oriented partnership with @ethena_labs @Securitize well-positioned for institutional money. The motivation stems from a strong 'new' thesis for institutional adoption as TradFi start recognising the the powerful synergies DeFi unlocks. The Converge ecosystem is led by some of the most institutionally-aligned forces in DeFi starting off with Terminal Finance, capitalising on Ethena & Pendle at the forefront. Its credibility stems not just from speculative traction, but from a well-engineered financial stack: 🔸 DeFi-native foundations with deep integrations + composability 🔸 Strong CeFi externalised distribution 🔸 Closed-loop early institutional participation All of this adds up to a robust primary layer that cements the structural groundwork for the wider institutional access. ------ The Next phase: Secondary Layer Formalisation This marks the final stage of externalisation towards a fully TradFi-attuned ecosystem, built on: 🔹 TradFi strategic distribution 🔹 Regulatory compliance architecture 🔹 Institutional-grade liquidity coordination With a bottom-up approach, Terminal Finance serves as the core anchor to Converge's TradFi-oriented liquidity hub of this whole financial stack designed for institutional trading. The entire ethos of ‘Money Legos’ that defined early DeFi was built on one principle: composable liquidity. But composability means nothing without accessible, deep & reliable liquidity. That’s exactly where TerminalFi steps in as a cornerstone of the Converge ecosystem. Far more than just another DEX, it is engineered to be: 1️⃣ Primary Ecosystem Enabler → Robust secondary marketplace tailored for insti-grade assets + YBS 2️⃣ Capital Efficient → Optimised design via mitigating price drift + IL for superior liquidity provision returns 3️⃣ Inclusive Accessibility → Both permissionless & eventually KYC/KYB-version for compliant institutional RWA trading It’s clear that Terminal is purpose-built as an institutional-grade primitive, offering a distinct & compelling value proposition. Moreover, in the absence of a token roadmap from Converge, Terminal effectively serves as the nearest native proxy for capturing Converge’s potential upside. ------ On Choosing a Strategic Dual-Synergy: Pendle x Ethena Terminal’s YBS thesis led to a strategic choice of sUSDe as the base asset, while launching in-tandem with Pendle on day-1 cements this alignment. And it’s no coincidence at all. While @ethena_labs scaled to over $6B supply in under a year, @pendle_fi has been instrumental in this growth: 🔸Over 50% of sUSDe supply was tokenised through Pendle during the climb from $1B → $4B 🔸 40% peak utilisation at $6B supply This level of retentive utilisation on Pendle proves market fit for tokenised yield (fixed + variable) within DeFi-native portfolios. But more importantly, it highlights the flywheel effect between Ethena <> Pendle: A mutually reinforcing synergy where Pendle drives usage → Ethena scales supply → both amplify each other's value across the ecosystem. The synergy doesn’t stop there. Ethena & Pendle are poised to go far beyond DeFi users. Together, they aim directly at the institutional opportunity: 1. Fixed-Yield Products ($190T market in TradFi) 2. Interest Rate Swaps (Even larger $563T market segment) Through Converge's accredited & regulated distribution channel, the missing bridge to institutional allocators through is now in place. This unlocks broad access to crypto-native return sources that are faster, composable & yield-centric by design with Terminal as the key liquidity anchor & distribution layer. ------ On Early Opportunities: Roots Access Program Phase 1 Needless to say, Pendle's involvement which unlocks financial potential from the YBS primitive. Terminal’s simultaneously comes with Pendle's launch on pre-deposit for LP tokens for initial pools: 1⃣ $tUSDe: sUSDe/USDe pool 2⃣ $tETH: wETH/weETH (by @ether_fi) pool 3⃣ $tBTC: wBTC/eBTC (by EtherFi) pool *These pools are uniquely designed for single-sided beta exposure + minimising IL risk for convicted & retentive LP-ing. The early bootstrapping phase comes with exclusive multipliers on Pendle which are time-sensitive: 🔸15x-60x multiplier on Terminal Points (vs. 10-30x on direct deposit 🔸50x Sats multiplier for $tUSDe & 3x EtherFi multiplier for $tETH 🔸Up to 13.93% LP APY on top of yield + points with single-sided exposure & negligible IL 🔸11.26% fixed APY on $tUSDe 🔸Highly capital efficient YTs exposure → 51%–340% (yield + points) Clearly, there is no other avenue offering such strategic opportunities on an early emerging institutional primitive. ------ Final Thoughts Zooming out, Converge establishment signifies the financial OS for the next economic primitive. Incase you still can't see it: ♦️Ethena brings the yield-bearing dollar ♦️Pendle enables the yield structuring layer ♦️Terminal leads the institutional market access Together, they form the backbone of a one-of-a-kind onchain interest-rate system that is composable, scalable & ready to meet the trillions in global fixed income seeking better yield. This is the real unlocking of institutional DeFi. And it's already begun.

Other assets we are proud to support on @ethereum include: $mETH, $ETH, $WBTC, $USD1, $USDC, $CRV, $srUSD, $rUSD, $weETH, $sUSDe, $USDT, $LINK and $AAVE

Crazy new $UNI incentives have been added to new @bunni_xyz pools! - @EtherFi weETH-ETH on @unichain: 27.16% APY🤑 - USDC-USDT on Ethereum: 87.05% APY🤯 Don’t be late to the party😂