RE 积分计划 S2 估值与收益分析

There have been fewer points programs lately with live tokens like RE, where you can attempt to gauge the future value of your points.

+ The FDV of RE is ~$450M + S2 is worth 3.5% of RE supply + That’s $15.75M at current price of RE + S2 will run an estimated 6 months + S2 has run 57 days since June 1st + S2 has awarded 238.9B points so far

If you check http://app.re.xyz/points, Re lists daily points awarded, so you can begin to estimate what % of the Strategy you are in, and what % that Strategy might pay out over the remaining 4 months, with 2 months locked in.

So let’s assume 2.33% of RE supply up for grabs with the remaining 4 months, and $10.5M worth of RE up for grabs for points farmers.

Reminder, just the base real yields: 1️⃣ reUSD earns 6.2% APY (senior) 2️⃣ reUSDe earns 12.2% APY (mezz)

There’s many different strategies (lend, borrow, LP, Pendle) to consider but one that sticks out to me if you deposit reUSDe in Beefy (underlying is a Pendle LP), you are earning about 18% APY, and then earning 40X points in Re S2.

I could be overlooking something here but the ability to earn that high of yield via Pendle, auto-compound in Beefy, and then be rewarded via S2, that looks really interesting to me.

Note: @re is a sponsor of The Edge Podcast. NFA, DYOR, lmk if you see anything differently here.