think the bull case im imagining is where the fees generate more rev that gets plugged back into said coins; rather than all the fee redistributions we've seen get recycled every couple of weeks (which are really just returning you what you already paid for)
for the degen mode levs you're more likely to get liquidated (shiro did lol) but I think the pad just re-opens the position once enough fees accrue
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1May 27, 2026 10.9K 18
