Renzo Basis gives ye self-custodial, customizable carry on Hyperliquid without surrendering the wheel to an Ethena-style pooled book—a proper bit of DeFi machinery. The whole vessel rests on one plank: BTC and HYPE funding must stay positive enough to outrun fees, slippage, and hedge rebalancing, or yer “yield” be automation harvesting a loss. 🦑

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