If I understand this correctly Only 15-18% of yield basis BTC is unstaked (dune dash in image). Which means those positions receive the LP yield while the rest - who staked - are opting for YB tokens. This is likely to create some eye popping yields. For YB, they can advertise about 6x higher yields since most LPs are electing to not earn that yield. And in the interm - before they unveil the unstaked trading yields - they can advertise big yields for those elected to rcv the YB token, which in turn creates more stakers... Which in turn boosts s00n TM yield once unveiled. Think of it this way... $100 distributed to 100 people (who deposited $100 each), 1% apy. Add the option to rcv secondary token, now it's: $100 distributed to 15 people, 6.67% apy. Straight up out of the unstaked USDe distribution yield playbook 🧠 (Ethena incentivized unstaked instruments via pendle). If early Pendle points days is any lesson here, grab the yield not the token.