The Theo Network has launched Season 2 of its points program for thUSD, a yield-bearing asset backed by gold leasing, gold futures, and thBILL (T-bill reserves). Investors can earn yields ranging from 6.5% to 11% APY through specialized vaults (Core, Core+, and Boost) or by providing liquidity to the thUSD / USDC pair on Uniswap. Based on the performance of RE and USDAI, the author suggests a conservative $500M FDV for the project following its upcoming TGE.