Updates on my STRC DeFi positions + thoughts on STRC price/plays lately:

Starting with @apyx_fi, I've added more apyUSD LP (Pendle) to capture both ~22.85% APR + 11x Pips.
I want exposure to both the yield and the APYX token, as it could print if STRC demand keeps exploding through 2026.
I've also been looking at the new apxUSD and apyUSD markets with longer maturities on @pendle_fi. I think this is one of the best times to lock in ~12% fixed yield on apxUSD for the next 166 days. Liquidity on the pools is now deep enough to absorb high figures.
Now, let's talk about STRC price.
It's been trading in the sub-$100 range (98.5–99.4). If you look at SATA (Strive’s STRC-like preferred) for comparison, you can see how the price ran back to $100 after they announced the daily dividend.
I believe STRC will follow a similar path once the biweekly dividend voting concludes in about two weeks.
So what’s the play if we believe STRC is heading back to $100?
1. PT STRCx on Pendle for 12.65% fixed APY
STRCx is the tokenized version from @xStocksFi. It trades ~1:1 with STRC. Buying with USDC currently gets you STRC exposure at ~$99.40 (at time of writing) + 12.65% fixed APY for the remaining 96 days.
2. jrUSDat LP on Pendle for ~15.23% APY + 5x Saturn points
This is a degen play, you need to understand how @strata_markets tranching works. TL;DR: The senior tranche (srUSDat) gets 65% of the STRC dividend rate + downside protection, while the junior (jrUSDat) gets the leveraged remainder + full STRC price exposure.
The price of jrUSDat dipped ~4% and has started grinding back up. I entered the Pendle jrUSDat LP during the dip to get the 15%+ APY, STRC exposure, and Saturn points.
NFA. DYOR.