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An Overview of USDpy
Summarize in ChatGPTThe USDpy token elegantly amplifies yield on USD, harnessing the funding accrued from perpetual trading arenas.
USDpy generates yield by shorting an asset on a perps market with a favorable funding rate, while holding that asset in spot or yield to be delta neutral against USD.
This asset performs best when many are going long on the underlying asset, as traders pay the short market in funding rate.
When the funding rate is unfavorable, leverage is reduced to limit losses on yield.