Is 154bps a fair spread on Pendle between sFRAX &

crvUSD? All I can think of is sFRAX has 92% CR where crvUSD is not backed by RWA? Am I missing anything?

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Maybe i'm not understanding what you're asking ser nor the comparison. Two diff classes of asset that are currently earning yield in diff ways. Indeed crvUSD is not back by RWA but crypto and some stables currently.

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