Our research highlights risk watch points and does not give a verdict, even if the article title suggests otherwise. PT-collateralized USDe, diversified stablecoin debt, and liquid leverage create stabilizing flows. When yields compress, positions rebalance through debt swaps instead of disorderly exits. Historically, PTs reprice upward as forward yields fall, which improves unwind conditions. Liquid leverage loops repay stables into Aave, refilling liquidity and softening utilization spikes. Alongside publishing research, @chaos_labs has built a Principal Token Oracle and works closely with @ethena_labs and @aave to coordinate mitigations. The aim is resilience. Pressure points are addressed in systemic design, not in click-baity headlines.