Quick heads up: Almanak's inaugural season wraps in about 30 days. Meanwhile, something interesting's happening on Pendle — the implied APY has been climbing steadily from around 15% to north of 19% recently. At one point it even spiked to 24%.

This upward trajectory suggests growing market interest in what Almanak's building. When yields climb like this, it usually means more participants are piling in, betting on the protocol's future value. Worth keeping an eye on how this plays out as we approach the season finale.