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Perhaps in seeking to maintain CR100, there is an argument

for having some exposure to fETH? Stable coin-like, but with 10% exposure to ETH's volatility.

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Is there any strategy at all atm though?

If you want that, you can just hold 90 percent stables and 10 percent eth… which both have way more liquidity and yield opportunities… then you also have much more upside if eth moons. Holding feth is like holding stable/eth LP in a 90/10 balancer pool… so you could just do that also. If you want people to hold feth, it will have to offer really high yields to compensate them for selling volatility in addition to all the lost opportunity cost.

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