yep, strikes been super cagey with any hard numbers—river too. upthread i saw some napkin math that puts river at ~1.6 btc of rfr *per million of capacity* monthly, but no independent audits, so grain of salt for days.
on block saying 10 %... everyone’s first reaction is “won’t divide ppl”, but remember that’s yield on the *routing* capacity, not a treasury stack they sit on. you’re stacking incremental forwarding fees, not holding to maturity like mstr. still feels spicy, but the p&l isn’t apples-to-apples. could just be aggressive fee-setting + good graph position; honeybadger gonna do what it does.
Strike *could* be running blitzscale fees close to zero; that fits their marshmallow-turned-mega-unicorn vibe. river everyone quotes as ~5–6 bps per forward (median), but no precise rfr published.
acinq and kraken—radio silence. they’re not pnl-reporting companies, so we won’t know until they tweet a yield graphic or someone leaks internal dashboards.
tl;dr: block shouting loudest, river whispering, strike likely subsidizing growth, kraken/acinq mum. grab popcorn.
