The attacker moved 2,000 ETH through Tornado Cash and sold 1,422 ETH for $2.4M in DAI, with just 5 ETH left in their wallet.
The attacker behind the exploit of Ethereum MEV bot Jaredfromsubway has moved millions of dollars through Tornado Cash, despite a public offer to return half the stolen funds in exchange for a white-hat bounty.
The transfer suggests that the attacker may have little interest in negotiating, even with the bot’s operator offering rewards and claiming that they have had discussions with potential recovery groups.
How the Bot Got Beaten at Its Own Game The exploit, according to Peckshield, happened on June 20 and netted the attacker 1,474 WETH, 2.87 million USDC, and 2 million USDT, with apparently no code being broken.
Another blockchain security firm, Blockaid, explained that the person responsible built a number of fake wrapper tokens, including fWETH, fUSDC, and fUSDT, and paired them with fake liquidity pools that appeared to the bot’s automated scanning system as profitable MEV opportunities.
It then did exactly what it was designed to do: spot a supposedly juicy trade and grant token approvals to the attacker’s helper contracts. Per Blockaid’s analysis, during early test transactions, those approvals were consumed normally, meaning nothing flagged as suspicious. Later, the exploiter crafted routes where the bot kept granting approvals that were never revoked, building up spending rights over the bot’s holdings in the process while waiting for the right moment.
When that moment finally came, the attacker’s contract used those open approvals to pull WETH, USDC, and USDT directly from the Jaredfromsubway contract using standard transferFrom calls. Crypto researcher RaFi, who posted a detailed thread about the incident, described it as a “masterclass in social engineering on-chain.”
The bot’s operator’s response came in waves. They first offered a $1 million reward to the hacker to return the stolen money and another $50,000 for anyone that could help them find the attacker. Soon after, they offered a $3 million “time-sensitive” bounty for the funds, promising full confidentiality and no questions asked.
You may also like: BitMine, SharpLink, and Joe Lubin Back New Ethereum Nonprofit ETHLabs New Proposal Redirects 10% of Staking Rewards to Fund Ethereum Ecosystem The Revenue Divergence: Why Record-Breaking Ethereum Activity Isn’t Boosting ETH Price With no discernible response coming, the Jaredfromsubway operator decided to send an on-chain message saying that they would accept 2,150 ETH, which is about 50% of the haul, and gave the attacker 48 hours to respond, with plans to “pursue all available legal and law-enforcement remedies” if the deadline passed without a return.
But the attacker seems to have given a response of a kind, with Onchain Lens reporting that they recently moved 2,000 ETH, worth about $3.4 million, through Tornado Cash. They are also said to have sold 1,422 ETH for around $2.4 million in DAI, and had only 5 ETH remaining in their wallet.
White-Hat Contact As of the most recent update, the bot runner said that a self-described white-hat group had made contact and that negotiations were ongoing, although nothing had been confirmed.
Blockchain developers have been trying to find ways to reduce MEV activity, one such method being a proposal by Aptos to encrypt mempool systems so as to keep transactions private until they are executed.
The attacker who stole from Jaredfromsubway.eth Maximal Extractable Value (MEV) bot may have been actively working towards hiding the evidence of the exploit.
Specter, an on-chain investigator, is in the news today after he reported that out of the $7.5 million that was stolen, about $5.1 million has already been transferred to Tornado Cash.
Source: Specter/X Funds laundered in batches According to the latest transactions, the attacker used 20 different transactions, each worth 100 Ethereum [ETH], to deposit 2,000 ETH into Tornado Cash.
Remarking on the same, Specter noted,
It looks like the attacker has no intention of returning any funds to jaredfromsubway.
To lessen exposure to ETH price volatility and ease future fund transfers, the remaining 1,422 ETH were exchanged for roughly $2.44 million worth of DAI – A dollar-pegged stablecoin.
At the time of the attack, the price of ETH was trading close to $1,700. However, the price of Ethereum fell by more than 8% over the previous week to $1,656.04.
Notably, ETH’s price decline was not solely due to the attack rather the broader market downturn.
Details of the attack The attacker first imitated a lucrative opportunity by creating a liquidity pool and a wrapper token. Then, the wrongdoer altered the trading logic of the MEV bot to fool it into automatically approving transactions. All while the bot engaged with these opportunities.
This permanently allowed the attacker-controlled contract to take money out. The exploit itself brought in 1,583 ETH, $2.87 million in USDC, and $2.09 million in USDT.
Afterwards, the attacker combined the assets and exchanged them for 4,427 ETH, which lessened fragmentation and facilitated the money laundering process.
Impact of funds moving across chain after exploits The most recent actions of the attacker highlight a typical trend observed following significant crypto exploits. When attackers starts laundering funds, the stolen money is quickly split up. It is then exchanged and sent through several blockchains and privacy tools to complicate recovery and tracing.
When attackers bridge assets across chains and transform them into different tokens or stablecoins, such post-hack behavior frequently transcends a single network.
Recently too, two suspected cryptocurrency laundering service operators were charged by U.S authorities. This, after they allegedly processed over $389M in illegal digital asset transactions.
Final Summary Jaredfromsubway.eth Maximal Extractable Value (MEV) bot attacker has now started to launder funds after the exploit. All this has raised legitimate concerns about funds laundering.
PANews June 25 news, according to Peckshield monitoring, the KyberSwap attacker has once again transferred 2,000 ETH to TornadoCash. Over the past two years, the attacker has laundered 16,100 ETH (about $40 million) through the mixer, accounting for more than 80% of the $48.8 million stolen in the November 2023 attack.
According to PeckShield’s monitoring, an address identified as the KyberSwap attacker has once again transferred 2,000 ETH to Tornado Cash. Over the past two years, this attacker has cumulatively transferred and mixed 16,100 ETH via Tornado Cash, equivalent to roughly $40 million at current prices, accounting for over 80% of the $48.8 million lost in the KyberSwap attack in November 2023. Some of the stolen funds have not yet been fully transferred.
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Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
4 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
4 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
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Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
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SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
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The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
pSTAKE Finance, backed by Binance Labs and a prominent figure in the liquid staking sector, is set to introduce a novel liquid staking solution for Bitcoin, constructed on Babylon's framework. This development marks a significant extension of pSTAKE's offerings beyond its initial focus area within the Cosmos network, where it first introduced liquid staking in 2021.
In a strategic partnership with Babylon, pSTAKE Finance aims to streamline the staking process, thus enabling Bitcoin holders to engage in yield-generation activities without sacrificing the liquidity of their assets. This approach is anticipated to optimize yield opportunities for users and expand the utility of Bitcoin within the broader digital asset ecosystem.
Persistence Labs co-founder and CSO Mikhil Pandey noted that the initiative is poised to enhance Bitcoin's role within today's DeFi landscape by offering simple, efficient financial products. “Bitcoin's future has never been so exciting, with simple BTC-first financial products anticipated to bring much-needed liquidity and utility to today's DeFi landscape,” Pandey noted.
Fisher Yu, Co-founder of Babylon, highlighted the synergistic nature of the collaboration, aiming to propel Bitcoin into the future of finance. “By integrating our BTC staking protocol, we're enabling pSTAKE to simplify and amplify the yield generation process for Bitcoin holders,” Yu explained. He emphasized that the collaboration illustrates their commitment to enhancing Bitcoin's utility and liquidity, paving the way for a Bitcoin-powered DeFi ecosystem.
Historically, liquid staking was predominantly associated with Ethereum. However, Babylon's infrastructure is set to democratize access to similar yield generation and staking rewards opportunities for Bitcoin users.
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Technological innovations within the Bitcoin ecosystem, such as Bitcoin Layer-2 solutions, are gradually shaping Bitcoin into a yield-bearing asset. These advancements, alongside Babylon's native Bitcoin staking capabilities, are expected to foster a diverse range of yield-generation avenues for Bitcoin in the near future.
BTC deposits on the pSTAKE platform are slated to commence in the coming weeks, marking a significant milestone in the availability of staking solutions for Bitcoin holders. David Tse, founder of Babylon, appeared on a recent episode of the SlateCast, where he outlined the power of Bitcoin staking as a tool to secure other blockchains.
In this episode of Blockcast, we take a deep DeFi dive into the murky waters of liquid staking with former Product Lead of Persistence Labs and co-founder of pSTAKE Finance, Mikhil Pandey.
Developed by the Persistence Labs team, which founded Persistence One, a Layer 1 blockchain; pSTAKE Finance offers Bitcoin liquid staking solutions built atop Babylon’s protocol.
As tokenization becomes an increasingly hot topic, the question of what liquid staking can bring to the sector is of developing interest for the DeFi world.
Pandey walks Blockhead through their journey on why they chose to build pStake on Babylon, what led to their decision to halt their Solana liquid staking solution and explains why Bitcoin might offer the best form of liquid staking for the market.
🎙️ Hey there, Blockcast listeners! 🎙️ This podcast provides commentary and discussion on cryptocurrency and related topics. It is intended for informational and entertainment purposes only and should not be construed as financial advice. Guests appearing on this podcast may discuss companies or strategies, but these discussions are not recommendations to buy, sell, or hold any particular asset or pursue any specific strategy. The hosts and guests are not financial advisors, and listeners are urged to consult with a qualified professional before making any investment decisions. Investments in cryptocurrency are inherently risky, and you could lose money.
In a move towards crypto expansion, Stripe, a popular payment processing firm has announced a recent integration with Avalanche (AVAX). With the integration, Stripe has expanded its offering to include support for Avalanche C-Chain, introducing a seamless path for retail users to acquire AVAX directly, without dealing with the hassles of crypto exchanges.
Avalanche Utilizes Stripe’s Fat-to-Crypto Onramp As revealed in a blog post, Core, Avalanche’s native ecosystem wallet and portfolio developed by Ava Labs has already integrated Stripe’s onramp. Stripe’s onramp provides a direct and efficient method for users to fund their wallets with AVAX and other supported tokens.
The onramp has built-in fraud prevention and identity verification tools to help companies meet Know-Your-Customer (KYC) and compliance requirements. With just a Gmail or Apple ID, individuals can create a Core wallet and purchase AVAX through Core’s extension or web app at core.app.
As a result of this integration, users can now access streamlined crypto products and Decentralized Applications (dApps) such as Decentralized Exchanges (DEXs), digital wallets, and Non-Fungible Tokens (NFT) platforms running on Avalanche.
Anyone can buy Avalanche’s native AVAX coin using debit or credit cards through the help of a widget that will be installed in Core. According to the announcement, Stripe will take care of all issues relating to KYC procedures, payments, fraud, and compliance.
Several prominent Avalanche ecosystem partners have already signaled their intention to integrate with Stripe, including GoGoPool, Avvy, Pakt, zeroone, Halliday, The Arena, Shrapnel, and DeFi Kingdoms.
John Egan, Head of Crypto at Stripe commented on the integration stating, “We’re excited to add AVAX into our onramp’s family of supported networks. Further enabling consumers to onboard into Avalanche’s growing dApp ecosystem is closely aligned with our goal of making it safe and easy for everyone to access the power of Web3.”
Avalanche is a Layer-1 blockchain network, competing with Ethereum (ETH) by offering a cheap and fast blockchain for developers to build upon. It is the network behind AVAX, the 12th largest digital asset with a market cap of $13.2 billion. As of the time of writing, AVAX is trading above $34.92, representing an increase of 0.6% in the past day. This nominal increase comes after the coin dropped 11% within the past week.
Stripe Making Strides in the Crypto Space Stripe, which has been topping charts since 2021 was one of the first major companies to accept Bitcoin payments in 2014. The company, however, dropped the service in 2018, but added that it was still “very optimistic about cryptocurrencies overall.”
In a recent development, the company announced plans to start supporting transactions domiciled in Circle’s native stablecoin USD Coin (USDC) beginning this Summer. As Stripe unveiled, all the USDC will initially launch through Ethereum, Solana, and the Polygon blockchain networks.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Are you ready to dive into the world of crypto gaming? Let’s unpack the leading P2E games of 2024! From BlockDAG’s innovative TG Tap miner to the quirky The Meme Games, the pixel-rich adventure in DeFi Kingdoms, to the expansive realms of Decentraland, there’s a wealth of unique gaming experiences up for grabs. Not to forget the ever-popular CryptoKitties, still charming the gaming community. Whether you’re a veteran gamer or just dipping your toes into digital waters, these games offer both fun and a chance to pocket some earnings.
1. BlockDAG: Big Wins with TG Tap Miner! Keen on a game that marries top-notch technology with fun? Put BlockDAG on your radar. Leveraging Directed Acyclic Graph (DAG) technology, BlockDAG marries Bitcoin’s robust security, Kaspa’s lightning speed, and Ethereum’s versatile interoperability. This trifecta has not only carved a significant niche in the crypto scene but also drummed up $72.4 million in presale funds, attracting over 120,000 unique holders.
BlockDAG’s foray into gaming introduces TG Tap Miner, a straightforward yet engaging play-to-earn clicker game on Telegram. Players tap away at falling balls within a minute, with different types of balls offering varying points — diamond balls rake in the highest points. Accumulated tap points can be exchanged for BDAG coins.
2. DeFi Kingdoms: A Trip Down Memory Lane with RPG Flair! Step into the pixel-art laden world of DeFi Kingdoms, a role-playing game set against a medieval backdrop. Here, players can embark on quests, trade, and mingle with others, all while earning in-game rewards. Its old-school pixel graphics whisk you back to the days of classic RPGs.
But it’s not just a pretty face; DeFi Kingdoms integrates decentralized finance, allowing you to farm, stake, and earn tokens as you play. This melding of RPG and DeFi elements delivers a gaming experience that’s as profitable as it is nostalgic.
3. CryptoKitties: The Enduring Allure of Digital Cats! Since its 2017 debut, CryptoKitties remains a staple in the P2E domain. In this game, players collect, breed, and trade virtual cats, each uniquely minted as an NFT. The simple joy of collecting these digital kitties and breeding new, unique offspring injects both strategy and fun into the experience, solidifying CryptoKitties’ role as a blockchain gaming pioneer.
4. Decentraland: Craft Your Virtual Destiny! Enter Decentraland: a sprawling, player-owned virtual world where creativity meets commerce. Launched in 2017, it’s grown into a leading P2E platform buzzing with activity. In Decentraland, players can buy plots of land, develop them into interactive experiences, and monetize their creations using the native MANA token, truly owning their virtual exploits.
5. The Meme Games: Win Big with Viral Fun! Drawing inspiration from the 2024 Paris Olympics, The Meme Games aim to be the unofficial meme token mascot of the event, especially among the degen crowd. This game fuses the viral nature of memes with the competitive spirit of the Olympics, offering a platform where players can earn by tackling various meme-centric challenges.
The Best P2E Games of 2024: Where Fun Meets Earnings! With trailblazers like BlockDAG setting new standards with their creative take on blockchain gaming, the future of gaming is not just arriving—it’s here. Whether you’re drawn to the nostalgia of DeFi Kingdoms, the vast possibilities in Decentraland, the meme magic of The Meme Games, or the collecting craze of CryptoKitties, there’s a slice of this vibrant gaming pie for everyone.
If one were to spotlight a standout, BlockDAG’s TG Tap Miner shines with its blend of simplicity, engagement, and profit potential. So gear up, jump into these games, and immerse yourself in the leading P2E games of 2024!
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
This week marks an exciting period for the crypto market, with key events expected to drive market sentiment. At the forefront are the highly anticipated remarks from Federal Reserve Chair Jerome Powell and a significant $100 million token unlock by SUI.
These developments and updates from the decentralized finance (DeFi) and blockchain spaces are poised to impact investor behavior and market performance.
EigenLayer Prepares for EIGEN Token Transferability This WeekRestaking protocol EigenLayer will remove transfer restrictions on its EIGEN tokens on September 30. This new feature aims to allow EIGEN holders to trade and transfer their staked rewards.
“Please note that if your EIGEN is currently staked, there is a 7-day withdrawal period for unstaking EIGEN,” the team added.
This marks a critical moment for EigenLayer. According to DefiLlama, EigenLayer holds over $12 billion in total value locked (TVL) at the time of writing. This figure makes it the second-largest DeFi platform by TVL.
Read more: What Is EigenLayer?
EigenLayer TVL. Source: DefiLlamaOn Monday, Jerome Powell, the Federal Reserve Chair, will participate in a moderated discussion at an economic conference. This event marks his first appearance since the Fed’s 50-basis-point interest rate cut on September 18.
Powell is expected to provide insights on the central bank’s future policy direction. This insight will have implications for both traditional financial markets and the cryptocurrency space.
BeInCrypto reported that the Federal Reserve’s decision to cut rates for the first time since 2020 has already stirred investor interest. Since the decision, Bitcoin (BTC) has been trading near key resistance levels around $64,000.
Mithil Thakore, CEO and co-founder of Velar, noted that a break above $64,000 could lead Bitcoin to a smoother ascent toward its previous highs of around $74,000. Thakore remarked that major macro factors, including global conflict risks and the US presidential election, could also affect the market.
“Markets don’t like uncertainty. For this reason, shrewd traders will seek to hedge exposure to BTC going into Q4. Given the likelihood of high volatility in the short term, traders who are bullish on BTC would do well to look to the options market and take out calls rather than playing with perpetuals,” he told BeInCrypto.
DeFi Kingdoms Partners with Metis L2 for PvP Game Colosseum LaunchOn October 2, DeFi Kingdoms will introduce its Colosseum game on the Metis Layer-2 (L2) network. This major development includes player-versus-player (PvP) private battles, an influence system, and an NFT marketplace. These features are designed to enhance user engagement and promote competitive gameplay.
“Players will be able to stake their Heroes to gain ‘Influence,’ granting them passive rewards and XP! Additionally, players can use their Influence to predict the winners of Bouts and be rewarded!” The DeFi Kingdoms team said.
The partnership with Metis allows DeFi Kingdoms to accelerate the development of PvP features while bringing added rewards in the form of METIS tokens. The team highlighted the long-term advantages, noting that the partnership with Metis would enable them to speed up certain timelines. This includes the timeline for PvP, which they now expect to deliver to their players earlier and with more features than initially planned.
Avalanche to Launch Major Network Upgrade: Avalanche9000In October, Avalanche will undergo its most significant network upgrade yet, known as Avalanche9000. This upgrade aims to enhance the scalability, security, and performance of the Avalanche blockchain, particularly for developers building Layer-1 (L1) chains.
On its official website, the Avalanche team explained that the upcoming changes will make it easier for developers to customize their blockchain infrastructure. This reduction in technical complexity and economic barriers will enable more projects to launch L1 chains on the blockchain.
Avalanche9000 will also introduce enhanced regulatory compliance options. These options include built-in geo-restrictions and custom permissions, helping projects align with global regulatory standards. The new upgrade will include better support for open and permissionless validator sets, which contributes to increased decentralization and security across the network.
As part of this upgrade, Avalanche is looking to attract more builders to its ecosystem by offering developer incentives and rewards. The upgrade includes access to a testnet environment, where developers can experiment with new ideas and innovations before deploying them on the mainnet.
SUI and Other Major Token Unlocks This WeekOne of the most significant events this week is SUI’s $100 million token unlock. SUI will release 64.19 million tokens to early contributors and investors, as well as its treasury. This amount represents 2.4% of its circulating supply.
Other notable token unlocks include DYDX, which will release $8.9 million worth of tokens. Similarly, MAV will also unlock $8.47 million in tokens.
Read more: Everything You Need to Know About the Sui Blockchain
SUI Token Unlock. Source: token.unlocksToken unlocks often present both opportunities and risks for investors, as the sudden influx of liquidity can trigger volatility. As the week progresses, traders will be closely watching how the market reacts to these token releases. Market participants are advised to stay cautious, as these unlocks could significantly impact short-term prices.
Acala Token (ACA) is a DeFi platform designed to create the liquidity layer of Web3 finance and provide infrastructure for traditional financial services. Contributing to the Polkadot ecosystem, Acala grew with support from the Web3 Foundation and private investment rounds, launching on Polkadot in 2021. Supported by the ACA token, the platform aims to be a significant player in the DeFi world with EVM compatibility and an innovative approach. In this article, you can find answers to two frequently asked questions: What is Acala Token (ACA), and how to buy Acala Token (ACA) with TRY.
What is Acala Token (ACA)?Acala is a decentralized finance (DeFi) platform designed to create the liquidity layer of Web3 finance and provide fundamental infrastructure for traditional financial services. This includes tools such as a universal asset hub, a decentralized exchange (DEX), and a multi-chain asset routing bridge. Acala’s Blockchain is EVM compatible, allowing developers to use existing code and skills for seamless integration and continuous upgrades. The platform is supported by the ACA token, which plays a crucial role in its operations.
Founded by the Acala Foundation, a joint effort between Polkadot development groups Laminar and Polkawallet, Acala aims to create decentralized financial markets among various Blockchains connected by Polkadot’s Relay Chain. The network is designed as a public and operated foundational financial layer using Polkadot’s Substrate framework. While Acala primarily focuses on financial applications, it continues to pursue interoperability initiatives and expand its development capabilities to enhance its ecosystem and reach.
Acala received a development investment from the Web3 Foundation in 2019 to start its journey. The Web3 Foundation supports projects developing open-source decentralized applications (dApps) contributing to the Polkadot ecosystem. Acala’s stablecoin system, liquidity staking platform, and decentralized exchange are envisioned as the foundation of DeFi activity within the Polkadot network. This investment marked the beginning of Acala’s development towards becoming a significant player in the DeFi space.
Since its establishment, Acala has secured additional investments and private investment rounds. Following the initial investment in 2019, Acala received two more grants from the Web3 Foundation, highlighting the project’s potential and progress. Acala’s Seed and Series A fundraising rounds were led by renowned crypto investment firms Polychain Capital and Pantera Capital, respectively.
Acala’s innovative approach and robust development have made it a significant player in the DeFi world. The network aims to offer a comprehensive financial services package bridging traditional finance and DeFi, launching on Polkadot in 2021. With a strong foundation and continuous support from the Web3 Foundation and leading investors, Acala significantly impacts the future of DeFi.
How to Buy Acala Token (ACA) with TRY?Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Acala Token (ACA). Over 100 cryptocurrencies, including ACA, can be bought and sold on Binance TR, where accounts can be created quickly. To buy Acala Token (ACA) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?Opening an account on Binance TR is quite easy. To do this, go to the trbinance.com address and continue from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?Identity verification on Binance TR is one of the security procedures that must be performed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can choose to verify from your phone or via Binance TR’s official website. Note that you will also need your phone to verify from the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the dropdown menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on “Copy URL” to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first, tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue the verification process, first, select the document type that suits you.
After selecting the document type, you can continue by tapping on the “Upload front side” option. After taking a photo of the front side of the document according to the selected document type, tap on the “Upload back side” option and take a photo of the back side of the document and upload it. Ensure that the images are clear and that the information in the photo is easily readable when taking photos of the front and back sides of your ID card or driver’s license.
Then you can continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Ensure that your face fills the camera area as much as possible after the camera opens.
After completing all these steps correctly and completely, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?You can easily deposit TL into your Binance TR account through all banks. You can deposit and transact 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits from other banks can be made 24/7 with FAST up to 50,000 TL. Deposits over 50,000 TL from other banks are processed within EFT hours.
To deposit money into your Binance TR account, first, go to the trbinance.com address, hover over the “Wallet” option at the top left of the main page, and click on the “Deposit” option from the dropdown menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make transfers via wire transfer, EFT, or FAST to that bank. All you need to do now is use the information displayed on the bank’s page to transfer the amount you want to deposit into your Binance TR account via wire transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your wallet in your Binance TR account.
How to Buy ACA Coin with TL on Binance TR?After the deposit process, you can proceed to the TL to ACA coin purchase step by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the following page will open. You can go to the TL to ACA purchase page by typing “ACA” in the search section on the right side of this page and clicking on the ACA/TRY option from the results.
Now the following ACA trading page will open. On this page, you need to enter the price at which you want to buy ACA in the first box in the red-marked area and the number of ACA you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy ACA” button.
What is Binance TR?Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users can access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functions through Binance TR.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Altcoins News: The latest update from the Token Unlocks App reveals that six altcoins are readying to take the heat of increased market supply in the upcoming week. This is attributable to massive token unlocks, a phenomenon wherein previously locked tokens are released periodically into the market.
Notably, $138.8 million worth of cliff unlocks are looming to hit certain altcoins in the coming days. These tokens include AltLayer (ALT), Sace ID (ID), Ethena (ENA), Galxe (GAL), Yield Guild games (YGG) and Acala (ACA).
Here’s a brief report on the token unlocks that may serve as important Altcoin news for crypto market participants.
AltLayer (ALT) The AltLayer crypto is set to witness an unlock of a staggering 684.21 million ALT, worth $111.01 million, on July 25. This is equivalent to 42.08% of the circulating supply, raising severe investor concerns over future market implications.
ALT price traded at $0.1619 at press time, up 5.29% over the past day. Its 24-hour lows and tops are $0.1572 and $0.1729, respectively.
Space ID (ID) The Space ID token will witness an unlock of 18.49 million ID, worth $9.01 million, on July 22. This equals 4.29% of the coin’s circulating supply.
ID price traded at $0.4875, an increase of 5.70% from yesterday. The token’s 24-hour lows and highs were $0.4607 and $0.5011, respectively.
Ethena (ENA) Ethena prepares for an unlock of 14.89 million ENA, worth $7.32 million, on July 21. This totals 0.87% of the coin’s circulating supply.
ENA price traded at $0.493 today, an upswing of 6.97% over the past day. Ethena’s 24-hour slumps and peaks were recorded as $0.4699 and $0.5116, respectively.
Yield Guild Games (YGG) The Yield Guild Games crypto will experience an unlock of 14.08 million YGG, worth $7.56 million, on July 27. This amounts to 3.74% of the coin’s circulating supply.
YGG price traded at $0.5369, up 2.97% over the past day. The token’s 24-hour bottoms and tops were $0.5183 and $0.555, respectively.
Also Read: $149 Million of Altcoins Sold By WazirX Hacker to Buy 43,799 Ethereum
Galxe (GAL) The altcoin Galxe readies for an unlock of 1 million GAL, worth $3.60 million, on July 24. This is equivalent to 0.85% of the circulating supply.
The GAL price rested at $3.58 today, a decline of 5.78% over the past day. Its 24-hour bottoms and highs were $3.54 and $3.92, respectively.
Acala (ACA) Acala is set to face an unlock of 4.66 million ACA, worth $340.03k, on July 25. This totals 0.46% of the coin’s circulating supply.
ACA price stood at $0.07291, an upsurge of 2.53% from yesterday. The cryptocurrency’s 24-hour bottoms and peaks were $0.07132 and $0.0759, respectively.
Notably, the abovementioned token unlocks remain much eyed by market participants as investor concerns persist over this altcoin news, primarily due to supply increase.
Also Read: SHIB News: Massive 2.7 Tln Accumulation Fuels Hope For Shiba Inu To $0.0000386
The crypto realm prepares for a dynamic shift in prices of 17 altcoins, primarily attributable to looming token unlocks ahead. Recent data from the Tokenomist.AI App suggests that nearly $74 million worth of coins will be released into the market over the coming week. These unlocks have raised severe market concerns over the coins’ future prices, as the supply of 17 coins stands poised to increase substantially.
Here’s a brief report on the cryptocurrencies that are set to face this bearish phenomenon ahead, per the latest market data.
17 Altcoins To Face Token Unlocks Ahead Tokenomist app revealed that 17 coins that are to face unlock ahead include MRS, ID, TRIBLE, ADA, KARRAT, ENA, EIGEN HTM, GTAI, C98, GAL, HOOK, GSWIFT, PYR, ACA, MOCA, and KPN. Let’s dig deeper into the upcoming unlocks and the mentioned coins’ current price action.
Metars Genesis Metars Genesis (MRS) is readying for an unlock of 10 million coins worth $15.70 million as of October 24. This unlock is equivalent to a remarkable 11.87% of the token’s circulating supply. Nevertheless, MRS price traded up nearly 1% from yesterday, reaching $1.67. The coin’s intraday low and high were $1.56 and $1.59, respectively.
Space ID Space ID (ID) stands strong to witness an unlock of 18.49 million coins, worth $7.10 million, as of October 22. The unlock is equivalent to 4.29% of the token’s circulating supply, raising investor concerns. ID price gained nearly 2.5% over the past day and is now trading at $0.3839. The coin’s intraday low and high were $0.3707 and $0.3876, respectively.
Tribal Token Tribal Token (TRIBL) readies to face an unlock of 9.60 million coins, worth $6.37 million, as of October 22. This unlock equals 8.30% of the altcoin’s circulating supply. TRIBL price slipped nearly 5% over the past day and is now trading at $0.6698. The token’s 24-hour low and high were recorded as $0.6561 and $0.738, respectively.
Cardano Cardano (ADA) is all set to experience an unlock of 18.53 million coins, worth $6.58 million, as of October 22. The unlock totals 0.05% of the coin’s circulating supply. ADA price soared nearly 2.5% today and is currently sitting at $0.3545. The coin’s intraday low and high were $0.3443 and $0.3566, respectively.
Karrat Karrat (KARRAT) is to witness an unlock of 11.36 million coins, worth $6.76 million, as of October 23. The massive unlock equals 7.93% of the altcoin’s circulating supply. Nevertheless, despite the looming risk, KARRAT price surged nearly 10% intraday to reach $0.5864. Its 24-hour low and high were $0.5299 and $0.6526, respectively.
Ethena Eythena (ENA) is preparing to experience a significant unlock of 12.86 million ENA, worth $5.33 million, on October 23. The unlock stands equal to 0.47% of the crypto’s circulating supply. Besides, ENA price pumped over 6% in the past 24 hours and is now trading at $0.4135. Its intraday low and high were $0.3886 and $0.4399, respectively.
EigenLayer EigenLayer (EIGEN) stands primed to witness an unlock of 1.29 million coins, worth $4.70 million, as of October 22. This unlock totals 0.59% of the altcoin’s circulating supply. However, even EIGEN price soared 6.29% to $3.65 today despite the looming bearish phenomenon. The coin’s 24-hour low and high were $3.42 and $3.71, respectively. Also, it’s noteworthy that the EigenLayer X account was hacked recently, bringing additional attention to the token in light of looming the unlock.
Hatom Hatom (HTM) is to experience an unlock of 5.39 million coins, worth $5.23 million, on October 20. The unlock is equivalent to a staggering 14.69% of the coin’s circulating supply. Meanwhile, HTM price dipped nearly 6% over the past day and is now trading at $0.9715. The crypto’s intraday low and high were $0.9679 and $1.07, respectively.
GT Protocol GT Protocol (GTAI) is readying for an unlock of 2.60 million coins, worth $2.11 million, as of October 21. This unlock equals a considerable 7% of the token’s circulating supply. Aligning with the risk, GTAI price dipped 5% today and is trading at $0.8118. Its 24-hour low and high were $0.7939 and $0.8678, respectively.
Coin98 Coin 98 (C98) stands poised to face an unlock of 16.53 million coins, worth $2.14 million, as of October 23. This unlock weighs equal to 2% of the crypto’s circulating supply. Besides, C98 price witnessed a 2.5% increase in value to $0.1296 today. Its intraday low and high were recorded as $0.1247 and $0.1339, respectively.
Hooked Protocol Hooked Protocol (HOOKED) is primed to witness an unlock of 8.33 million coins, worth $3.82 million, as of October 21. The unlock is equivalent to 4.27% of the altcoin’s circulating supply. Nevertheless, HOOKED price soared nearly 4% over the past day and is now trading at $0.4588. The coin’s intraday low and high were $0.4382 and $0.495, respectively.
Venom Venom (VENOM) is poised to face an unlock of 33.76 million coins, worth $2.85 million, on October 25. This unlock totals 1.80% of the token’s circulating supply. VENOM price jumped slightly, up 1% over the past day to $0.08442. Its intraday low and high were $0.08208 and $0.08443, respectively.
GameSwift GameSwift (GSWIFT) is readying to witness an unlock of 18.07 million coins worth $1.09 million as of October 21. This unlock is equivalent to 4.47% of the altcoin’s circulating supply. GSWIFT price is up nearly 1% today and is trading at $0.0604. The coin’s 24-hour low and high were $0.05937 and $0.06121, respectively.
Vulcan Forged Vulcan Forged (PYR) is preparing for an unlock of 248.02K coins worth $647.32K as of October 25. This unlock totals 1.04% of the coin’s circulating supply. PYR price traded at $2.61 today, up nearly 2% intraday. Its 24-hour low and high were $2.52 and $2.67, respectively.
Acala Acala (ACA) is to face an unlock of 4.66 million coins, worth $277.64K, as of October 25. This unlock totals 0.43% of the crypto’s circulating supply. ACA price jumped 1% over the past day and is now trading at $0.05866. The altcoin’s intraday low and high were $0.05791 and $0.06044, respectively.
Moca Coin Moca Coin (MOCA) is eyeing an unlock of 44.08 million coins, worth $3.44 million, as of October 25. This unlock totals 3.4% of the crypto’s circulating supply. MOCA price dipped nearly 2% over the past day to reach $0.07756. The coin’s intraday low and high were $0.07654 and $0.07872, respectively.
KonnektVPN KonnektVPN (KPN) stands poised for an unlock of 18 million coins, worth $85.67K, as of October 20. The unlock totals 0.73% of the coin’s circulating supply. KPN price slipped nearly 8% over the past day and is trading at $0.004761. Its intraday low and high were $0.004639 and $0.005148, respectively.
Meanwhile, CoinGape Media previously spotlighted a stockpile of other altcoins to sell in light of massive token unlocks, such as the ones mentioned above.
The Acala network is an EVM-compatible DeFi smart contract platform that operates as a Polkadot parachain. ACA is the native token of the platform, which can be used for minting stablecoins, paying transaction fees, participating in governance, and earning rewards through staking and liquidity mining.
What Is Acala (ACA)?According to explanations, the importance of cross-chain communication in the blockchain is similar to the importance of the internet to intranets. Polkadot empowers a network of public, consortium, and private blockchains, providing true interoperability, economic, and transactional scalability. Acala is a first-of-its-kind decentralized finance consortium that offers a range of protocols. As per the statements, Acala is a stablecoin protocol that will serve as the DeFi building block of Polkadot. The Acala cross-chain stablecoin network will:
Create a robust and stable currency for low-cost, unrestricted value transfer across all blockchains connected to the networkAllow collateral to come from both the Polkadot network and other connected networks to achieve a higher supply ceilingLeverage Polkadot’s shared security mechanism to have the highest security from day oneAchieve true decentralization and censorship resistance through the consortium setup and token launch modelBe a specialized stablecoin network with customizable fee schedules while maintaining securityPrepare for the future with on-chain governance, enabling forkless and non-disruptive upgradesWhere to Buy ACA Coin?ACA Coin can be securely bought and sold through Binance, the world’s largest cryptocurrency exchange by trading volume. ACA Coin is traded on Binance under ACA/BTC, ACA/USDT, and ACA/BUSD pairs.
To purchase ACA, you must first register on the Binance exchange. After completing the registration, you need to transfer either cryptocurrency or fiat currency to your Binance wallet. Once the transfer is completed, you can buy ACA Coin from any of the three pairs mentioned above. To buy from the ACA/USDT trading pair, navigate to the interface for this pair. In the limit section of the ACA/USDT interface, enter the amount you wish to purchase. After specifying the amount, the purchase can be completed by placing a Buy ACA order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Polkadot (DOT) is preparing to launch a new stablecoin, pUSD, through the RFC-155 proposal. The Polkadot community is championing pUSD as a key solution to unleash its DeFi potential, cut dependence on USDT/USDC, and boost ecosystem autonomy.
However, some are concerned that they might repeat past mistakes. pUSD is an over-collateralized stablecoin fully backed by DOT, deployed on Asset Hub, and using the Honzon protocol developed by Acala. Acala is the former issuer of aUSD, a stablecoin project that failed disastrously.
Can pUSD Stablecoin Avoid the Same Fate as aUSD?Reusing Honzon – the framework Acala previously relied on to issue aUSD is raising concerns. That incident eroded trust in the Acala team, with some even accusing them of “blaming a hack” while failing to compensate users adequately.
“Acala’s stablecoin (aUSD) launch was a complete disaster and it really killed my trust in the team. I don’t see myself supporting their project anymore. What I’d love to see is a proper, reliable, native solution. Honestly, it’s frustrating that with all the talent in the Polkadot/Substrate space, nobody has managed to build something better yet.” – A community member shared.
Approval rate of the proposal at the time of writing. Source: PolkadotEven those who support Polkadot launching its native stablecoin still see Honzon and Acala as lessons that cannot be ignored. They propose the project should “move forward independently from the Acala team.” In addition, they call for the Technical Council to take clear responsibility for governance.
“With these assurances, I would be prepared to vote AYE. Without them, the risk of repeating past mistakes is too great.” Another member noted.
Too Many RisksSetting aside concerns about Honzon and the Acala team, Polkadot’s pUSD also faces skepticism within the community. One primary reason is the structure that DOT solely backs it.
While the exact overcollateralization ratio remains unclear, this could trigger liquidation cascades and add selling pressure on the token. Although the pUSD model is safer than Terra’s UST because it is overcollateralized, relying only on DOT as collateral introduces significant risks.
Previously, MakerDAO’s DAI also started as ETH-only collateral. But today, MakerDAO supports Multi-Collateral DAI (MCD). They allow users to back DAI with crypto assets such as ETH, WBTC, LINK, UNI, stETH, and even Real World Assets (RWAs) like US Treasuries.
“Backed only by DOT, which could trigger liquidation cascades and add additional selling pressure on the token. Remember the notorious DAI depeg in 2020, which forced MakerDAO to diversify its collateral.” A user on X commented.
Additionally, another X user pointed out that the Polkadot ecosystem already has more advanced native solutions like HOLLAR. The Hydration runtime builds this stablecoin, optimizes it for appchains, and positions it as superior to the legacy aUSD architecture. Therefore, many argue that instead of repeating a “regular” EVM model, Polkadot should leverage its unique strengths. This would enable the creation of a stable, secure solution worthy of its ecosystem’s potential.
pUSD is undoubtedly a strategic move by Polkadot to unlock DeFi potential. It could bring significant benefits if it proves secure and sees widespread adoption in the ecosystem. However, the ghost of aUSD’s failure continues to cast doubt within the community.
To avoid repeating the same mistakes, Polkadot must work to dispel those lingering concerns. The fact that the DOT supply is capped at 2.1 billion, as reported by BeInCrypto, could help fuel the ecosystem’s growth.
Source: Forbes Together, they dominate global liquidity and trading pairs across exchanges.
Against these giants, pUSD is starting from scratch, backed solely by DOT and confined to Polkadot’s ecosystem.
The challenge will be to earn trust and adoption; pUSD must prove it can stand firm where others already command near-total market share.
Source: TradingView At press time, DOT traded at $3.93, slipping nearly 1.6% since the pUSD proposal announcement. RSI hovered just above neutral at 52, while MACD showed weakening bullish signals, hinting at short-term hesitation.
TLDR The Polkadot community is currently voting on the proposal to launch a native stablecoin backed by DOT tokens. Bryan Chen, co-founder of Acala, introduced the pUSD stablecoin proposal to reduce reliance on USDT and USDC. The pUSD proposal has gained 74.6% support but requires 79.7% approval to pass in the ongoing referendum. Community members remain divided over Acala’s involvement in the pUSD project due to the failure of aUSD Gavin Wood outlines a broader vision for stablecoins within Polkadot, emphasizing the benefits of using pUSD for validator rewards. The Polkadot community is currently voting on a major proposal to launch a native stablecoin, pUSD. This stablecoin would be entirely backed by DOT tokens, the network’s native cryptocurrency. The proposal has sparked a heated debate, drawing strong opinions both in favor and against the initiative. At present, the vote is ongoing, and it could significantly influence the future of the Polkadot network.
Polkadot’s Push for a Native Stablecoin Bryan Chen, co-founder of Acala, introduced the proposal for pUSD. The plan suggests launching the stablecoin on Polkadot’s Asset Hub using the Honzon protocol. Honzon had previously been used in Acala’s aUSD project, which faced a failed launch due to an exploit. Despite the past failure, Chen has emphasized the importance of Polkadot having a decentralized stablecoin to reduce its reliance on USDT and USDC.
Chen stated, “A native stablecoin will prevent Polkadot from losing liquidity to other chains that already have one.” He believes pUSD can maintain the network’s strategic advantage in the rapidly evolving blockchain ecosystem. Although over 74.6% of the votes are in favor of the stablecoin, the measure requires 79.7% approval to pass. With over $5.6 million in DOT already committed to the vote, the outcome remains uncertain.
Acala’s Memories and Community Doubts Despite the potential benefits of a native stablecoin, memories of Acala’s previous failure have caused skepticism. The aUSD project’s collapse in 2022 due to an exploit left a lasting impact on the community. Some members argue that Acala should not be entrusted with launching another stablecoin, given the risks involved.
A group known as TheGlobedotters expressed concerns, urging that Acala’s involvement should be avoided. Others, like The White Rabbit, have said they could support the proposal if Acala were excluded from its development. They also call for strict governance safeguards before any stablecoin is deployed.
Gavin Wood Outlines the Broader Vision for Polkadot Polkadot’s founder, Gavin Wood, has also weighed in on the stablecoin debate. He outlined a broader strategy that includes both fully collateralized stablecoins like pUSD and more flexible “stable-ish” assets. Wood believes a multi-approach strategy is necessary to address Polkadot’s volatility issues while stabilizing the network’s validator rewards.
Wood suggested that validators could be paid in pUSD instead of volatile DOT, which would stabilize their income. He argued that such a move would attract institutional participants and enhance Polkadot’s long-term security. “A DOT-backed stablecoin like pUSD could be key to strengthening Polkadot’s position,” Wood added.
Polkadot developers are weighing a DOT-backed stablecoin called pUSD, though Acala’s troubled history with aUSD has sparked community doubts.
(Photo of Sung Jin Cho on Unsplash)
Posted September 30, 2025 at 10:04 am EST.
The Polkadot community is considering the launch of a native DOT-backed algorithmic stablecoin called pUSD, with the aim of reducing reliance on external stablecoins like USDT and USDC.
The proposal, put forward by Acala CTO Bryan Chen, envisions pUSD as an overcollateralized debt token exclusively backed by DOT tokens that would operate on Acala’s decentralized Honzon protocol.
pUSD would be managed entirely by smart contracts, tracking a fiat currency peg using economic incentives and automated on-chain logic. The design aims to avoid the risks of mixed collateral models and centralized control.
This story is an excerpt from the Unchained Daily newsletter.
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Early voting on the proposal has shown over 75% support, with more than 1.1 million DOT, valued at about $4.3 million, already committed. However, some members of the community raised concerns around Acala leading the charge.
“Acala’s stablecoin (aUSD) launch was a complete disaster and it really killed my trust in the team. I don’t see myself supporting their project anymore,” said one user.
Acala’s aUSD stablecoin experienced a major depeg event due to a technical exploit in 2022 — a bug in the iBTC/aUSD liquidity pool allowed hackers to mint over 1.2 billion aUSD tokens without the necessary collateral.
renBTC is an ERC-20 token built on the Ethereum network, pegged to Bitcoin. This means that each RENBTC can always be used for a Bitcoin, and thus tends to maintain its value close to the Bitcoin market rate.
What is renBTC (RENBTC)?RenBTC is minted on the Ren platform, an open protocol that grants everyone the right to access cross-blockchain liquidity and helps bring assets from other blockchains to Ethereum decentralized applications (DApps). The main supported cryptocurrencies are Bitcoin (BTC), Bitcoin Cash (BCH), and Zcash (ZEC).
The RenBTC token is a direct competitor to Wrapped Bitcoin (wBTC). Minting the token is a relatively simple process, requiring users to send their BTCs to RenVM.
Unlike other Bitcoin-backed tokens, renBTC is not a synthetic token and does not rely on any liquidation mechanism to maintain its value tied to BTC. Instead, it is a direct supply fix, meaning there is always sufficient BTC in reserve to match the circulating renBTC supply.
The key difference between RenBTC and other Bitcoin tokens is the token’s fluid value exchange. RenVM does not store any Bitcoin in a centralized custody platform, instead, it uses a decentralized node network called Darknodes. Users can mint tokens at any time without having to complete KYC. The protocol can handle hundreds of transactions per minute and never gets overloaded.
Additionally, RenVM can be directly integrated into numerous decentralized applications using special adapters provided by Ren. This means a user can directly use Bitcoin (via RENBTC) in a decentralized exchange (DEX) or a lending platform without going through any procedure.
renBTC Coin can be bought quickly and safely through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy renBTC Coin, one must first become a member of Binance and then send fiat currency. After sending a fiat currency such as the US Dollar, purchasing renBTC Coin can be done by trading Bitcoin (BTC) and Ethereum (ETH) in the renBTC trading pair.
Additionally, on Binance, users can place a purchase order at a price lower than the market value. For this, using the Limit tab and entering the desired amount and price you want to buy will suffice.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
If traditional finance got a blockchain makeover, DeFi protocols would inevitably be the result. Here, decentralized apps (DApps) and smart contracts reign supreme, offering you control over your financial future.
From staking your digital assets for crypto yield to conducting anonymous crypto swaps, this guide introduces you to the top DeFi protocols to keep an eye on in 2026.
In This Guide:
12 Top DeFi protocols in 2026 DeFi protocols comparedWhat are DeFi protocols?How do DeFi protocols work?Should you use DeFi protocols?Could DeFi replace traditional finance?Frequently asked questions12 Top DeFi protocols in 2026
1. dYdX
Best DeFi protocol for liquid staking
Token
dYdX
Token max supply
1,000,000,000 DYDX
Market cap
$1.499B
TVL
$401.81M
The dYdX protocol provides advanced financial instruments like perpetual and margin trading within the DeFi ecosystem. The leading exchange operates without KYC, allowing for anonymous, trustless trading. It supports perpetual and margin trading, alongside lending and borrowing, and offers competitive fee structures and gas-free trading experiences.
The platform provides lower collateralization levels compared to competitors, increasing accessibility. dYdX also utilizes StarkWare for increased efficiency and lower transaction fees and allows for community contributions and governance.
Notably, dYdX also transitioned to an independent blockchain within the Cosmos ecosystem, enhancing performance and furthering decentralization.
Pros
Advanced trading options No KYC required Low fees Layer-2 scalability Dynamic interest rates Interoperability with Cosmos Cons
Complex for beginners Dependent on Ethereum Limited spot trading New chain transition challenges Ecosystem adaptation required Trade features: Perpetual trading, margin trading, decentralized order book, layer-2 scalability, cross-margin capabilities.
Security features: Self-custodial security, third-party audits, secured by Ethereum protocol.
Platform and ecosystem features: No KYC, open-source code, integration with Cosmos ecosystem, decentralized governance, off-chain order matching.
2. PancakeSwap
Best DeFi protocol for cost-effective transactions
Token
CAKE
Token max supply
450,000,000 CAKE
Market cap
$974.4M
TVL
$2.224B
PancakeSwap is a top-tier DeFi protocol. It focuses on the Binance Smart Chain blockchain, but supports a total of eight networks, including Ethereum.
PancakeSwap’s native crypto is CAKE, which has a total supply of 450 million tokens. This decentralized exchange leverages an automated market maker (AMM) model, allowing for direct, wallet-to-wallet trades without intermediaries, enhancing user control and security.
Moreover, it offers a range of services beyond simple trades, such as yield farming, staking, and lotteries, enabling users to earn rewards in various ways. Its user-friendly interface makes it accessible for beginners, while its innovative features, like the zkBridge technology, ensure secure and efficient transactions across different blockchain networks.
PancakeSwap’s growth is underscored by its status as the first billion-dollar project on the Binance Smart Chain and its continual upgrades, such as the current PancakeSwap V3, demonstrating its commitment to improving functionality and user experience.
Pros
Intuitive interface High APY for liquidity providers (LPs) Supports staking and farming NFT marketplace Cons
No mobile app No native crypto wallet Trade features: Instant crypto trading, liquidity pools, asset bridging, perpetual trading, and cryptocurrency purchasing.
Game and NFT features: Gaming marketplace, prediction market, NFT marketplace for NFTs on BNB Chain.
DeFi and ecosystem engagement: Governance, initial farm offerings (IFOs), gauge voting and revenue sharing, and farm booster.
3. De.Fi
Best DeFi protocol for monitoring
Token
DEFI
Token max supply
1,000,000,000 DEFI
Market cap
n/a
TVL
n/a
De.Fi provides detailed smart contract analysis to detect potential vulnerabilities and assign security scores. It offers an extensive dashboard for monitoring wallet transactions and balances, alongside powerful investment tools for analyzing and controlling positions in DeFi protocols, NFT collections, and lending markets.
Additionally, De.Fi includes specialized security features like the De.Fi Shield and Scanner for thorough contract examination. It also comes with user-friendly transaction tools such as secure crypto sending and De.Fi Swap for easy cryptocurrency exchanges across various blockchains, making it a well-rounded solution for utilizing the DeFi space safely and effectively.
Uniswap is another leading decentralized exchange. The native token is UNI, which has a total supply of 1 billion tokens.
Governed by its users through the UNI token, it offers a community-driven experience, unlike centralized platforms. Uniswap’s liquidity pools facilitate secure and direct token swaps, ensuring users maintain complete control over their funds. Originally built on Ethereum, it now supports other Ethereum-compatible networks like Polygon and Optimism, offering lower transaction costs.
Uniswap’s simplicity makes it accessible for beginners while providing advanced features for experienced users. This is rare when it comes to DEXs, which can often be tricky to use and less straightforward than their CEX counterparts. Uniswap also boasts broad token availability and deep liquidity, reducing price impact on large trades.
Additionally, the DEX has integrated NFT trading, enhancing its offerings. With nearly 5 million unique wallet addresses and surpassing $1 trillion in trading volume, its popularity and reliability are evident.
Finally, Uniswap’s swap fees are competitive, especially when compared to centralized exchanges, and users can choose cheaper networks to avoid high Ethereum gas fees.
Game and NFT features: NFT marketplace, prediction market.
DeFi and ecosystem engagement: Governance, concentrated liquidity, transaction fee structure.
5. Curve Finance
Best DeFi protocol for stablecoins
Token
CRV
Token max supply
2,091,644,627 CRV
Market cap
$730.32M
TVL
$2.486B
Curve Finance is a leading decentralized exchange (DEX) on the Ethereum blockchain, specializing in the efficient trading of stablecoins and wrapped tokens like wBTC, renBTC, and sBTC. Founded by Michael Egorov, it has quickly risen to prominence, and is particularly famed for its innovative use of liquidity pools and automated market maker (AMM) systems. These allow users to earn high annual interest rates — over 300% in some pools — on deposited cryptocurrency.
The platform distinguishes itself with its unique bonding curve. This is optimized for stablecoins to reduce slippage, allowing significant trades with minimal price impact. This has positioned Curve as a vital component in the DeFi space, especially for those interested in liquidity mining and yield farming.
Curve Finance operates as a decentralized autonomous organization (DAO), with its governance token CRV enabling holders to vote on changes and proposals. This shift to a DAO structure allows Curve to operate with enhanced transparency and community-driven development. Despite its complexity and the potential for impermanent loss, Curve Finance offers significant opportunities for liquidity providers and traders, underlined by security measures including multiple code audits and bug bounties to safeguard user assets.
Pros
Specializes in stablecoins Reduced slippage Governed by DAO Multiple security audits Bug bounties for added safety Cons
Complex for beginners Focused mainly on stablecoins and wrapped tokens Reliance on Ethereum blockchain, leading to potential high gas fees Trade features: Stablecoin specialization, efficient liquidity pools, unique bonding curve, minimal slippage in trades.
Earning features: High annual interest rates from liquidity pools, rewards in CRV tokens, participation in yield farming.
DeFi and ecosystem engagement: Governance via CRV token, high total value locked (TVL), support for various wrapped tokens.
6. Balancer
Best DeFi protocol for multi-tokens pools
Token
BAL
Token max supply
62,244,253 BAL
Market cap
$268.21M
TVL
$1.242B
Balancer is a versatile and innovative DeFi platform that redefines the concept of decentralized exchanges (DEXs) by combining elements of automated market makers (AMMs) and index funds.
Unlike traditional DEXs — which typically focus on two-token liquidity pools — Balancer’s USP lies in its ability to maintain a balanced portfolio through automatic rebalancing, adjusting the pool’s asset allocations in response to market price changes.
Balancer supports three types of pools: public pools, where anyone can add liquidity and earn trading fees; private pools, where only the creator can contribute liquidity and set parameters; and smart pools, which are private pools with adjustable parameters controlled by a smart contract. This flexibility caters to a wide range of user preferences and risk tolerances.
Furthermore, Balancer’s architecture is designed to function on Ethereum and also on six additional blockchain networks, expanding its accessibility and interoperability within DeFi ecosystems. By providing a decentralized platform for multi-asset liquidity, Balancer contributes significantly to the efficiency of the cryptocurrency market.
Complex for beginners Limited on smaller chains Trade features: Multi-token pools, automated portfolio rebalancing, customizable pool types (public, private, smart), wide asset variety, minimal slippage through dynamic trading fees.
Earning features: Rewards in BAL tokens, high yield from liquidity provision, participation in liquidity mining, diversified income streams through various pool types.
DeFi and ecosystem engagement: Governance via BAL token, significant total value locked (TVL), interoperability across multiple blockchains, support for a variety of digital assets and wrapped tokens.
7. Summer.fi
Best DeFi protocol for services
Token
Summer.fi
Token max supply
N/A
Market cap
N/A
TVL
$5.345b
Summer.fi, initially known as Oasis.app and one of the earliest MakerDAO projects from 2016, has evolved significantly beyond its original scope.
After Maker became fully decentralized, Summer.fi emerged as a standalone platform, dedicated to establishing a highly trusted application for DeFi capital deployment.
It now transcends being merely an interface for the Maker Protocol. It aims to be the most secure place for engaging with DeFi, providing users with advanced automation features like stop-loss, auto-buy, and auto-sell, as well as strategies such as Constant Multiples for optimizing Vault performance. If your Vault’s collateralization ratio hits your Sell Trigger, Constant Multiple will execute.
Summer.fi prioritizes user experience, offering clear insights into positions, returns, and associated risks, backed by a comprehensive knowledge base reflecting community feedback.
Pros
Comprehensive DeFi services Advanced automation features, (stop-loss, take-profit, auto-buy, etc.) User-friendly interface Integration with multiple protocols (Aave and Maker) Cons
Complex for new users Limited to ERC-20 tokens Borrowing features: Flexible repayment schedules, diverse collateral types, integrated with multiple protocols like Aave and Ajna, protection against market volatility through the Oracle Security Module and constant updates from Chainlink.
Multiplying features: Increase or decrease collateral exposure in one transaction, use borrowed funds to buy more collateral, integration with liquid platforms and the 1inch DEX aggregator for best execution prices, dedicated interface for managing positions.
Earning features: Self-custody solutions for yield earning, compatibility with Aave and Maker protocols, increase yield from StETH, participate in the Dai Savings Rate for passive income.
Automation features: Stop-loss to prevent liquidations, take-profit for efficient exits, auto-buy and auto-sell for Vault management, Constant Multiple to maintain predefined exposure levels.
Integration and partnerships: Support for various wallets like MetaMask and Ledger, integration with the 1inch Network for efficient token swaps, launched on Optimism layer-2 for reduced transaction costs, Ajna Protocol integration for curated borrowing and lending pools.
8. Aave
Best DeFi protocol for liquidity
Token
AAVE
Token max supply
16,000,000 AAVE
Market cap
$1.711B
TVL
$10.564B
Aave (AAVE) is a pioneering entity in the DeFi sector. The comprehensive lending platform boasts a significant Total Value Locked (TVL), which surpasses $10 billion in crypto collateral.
Aave enables users to lend and borrow a wide array of tokens across multiple ecosystems, ensuring a versatile and inclusive financial experience.
The platform’s latest iteration, Aave V3, expands its reach beyond Ethereum to include 10 different blockchain networks, further solidifying its position as a key player in DeFi by enhancing accessibility and providing a range of options for its diverse user base.
Pros
High TVL Wide range of tokens Multi-chain accessibility Flash loans availability Governance via AAVE token Cons
Complexity for beginners High gas fees on Ethereum Risk of liquidation Trade features: Flash loans, real-time interest accrual, stable and variable interest rates, Ethereum network integration, multi-asset collateral support.
Earning features: aTokens for deposit interest, decentralized lending and borrowing, yield optimization strategies, liquidity mining.
Security features: Over-collateralization of loans, smart contract audits, safety module for risk mitigation, bug bounties for platform integrity.
Platform and ecosystem features: Governance via AAVE tokens, layer-2 solutions for reduced fees, decentralized autonomous organization (DAO) structure, no KYC requirements, multi-chain accessibility.
9. MakerDAO
Best DeFi protocol for generating a stablecoin
Token
MKR
Token max supply
1,005,577 MKR
Market cap
$2.686B
TVL
$7B
MakerDAO is a pioneering DeFi platform that has revolutionized the way users engage with digital assets. The platform provides a decentralized borrowing and lending system with its stablecoin, DAI, at the core.
Built on the Ethereum blockchain, it allows users to leverage a variety of cryptocurrencies as collateral to generate DAI, maintaining stability through rigorous governance by MKR token holders.
The platform distinguishes itself with features like over-collateralization to ensure loan security, and a dual-rate model offering users the choice between stable and variable interest rates. However, users must navigate complexities such as liquidation risks and market volatility.
As MakerDAO evolves, it continues to solidify its status as a cornerstone of the DeFi landscape with the introduction of upgrades like V3 and the addition of the GHO stablecoin — balancing user empowerment with the intricate dynamics of decentralized finance.
Pros
Decentralized lending DAI stability Ethereum-based Governance by MKR Over-collateralization Variable interest rates Cons
Complexity High gas fees Liquidation risks Trade features: Flash loans, stable and variable interest rates, real-time aTokens, multi-currency collateral, governance-driven updates.
Earning features: Interest on deposits, participation in governance, yield farming opportunities, dynamic interest rates.
Security features: Over-collateralization, liquidation mechanisms, community governance for risk management, security modules for asset protection.
Platform and ecosystem features: Decentralized borrowing and lending, Ethereum-based, MKR token for governance, integration with multiple crypto assets, open-source development, Maker Vaults for asset management.
10. Compound Finance
Best DeFi protocol for staking
Token
COMP
Token max supply
10,000,000 COMP
Market cap
$487.27M
TVL
$2.668B
Compound Finance is a prominent decentralized lending platform operating on the Ethereum blockchain, known for pioneering the DeFi lending space.
Established by Robert Leshner and Geoffrey Hayes in 2018, Compound simplifies the process of borrowing and lending cryptocurrencies without intermediaries, allowing over $2 billion in assets to be locked on its platform.
Unique for its innovations, such as yield farming and governance through COMP tokens, the platform aims to provide financial inclusion, eliminating traditional transaction minimums and credit checks.
While offering competitive returns through real-time interest rates, users engaging with Compound and its governance token, COMP, must be cautious of market volatility and conduct in-depth research prior to investment.
Pros
Decentralized borrowing and lending No transaction minimums User-friendly interface Supports multiple ERC-20 assets Yield farming opportunities Cons
Market volatility risks Requires over-collateralization Complexity for new users High gas fees on Ethereum Trade features: Real-time interest rate adjustments, supports diverse ERC-20 tokens, and a user-centric lending and borrowing system.
Earning features: Yield farming with COMP tokens, competitive APR for lenders, dynamic interest rates based on market conditions.
Security features: Extensive security audits (Trail of Bits, OpenZeppelin), economic risk analysis by Gauntlet, transparent and verifiable contracts.
DeFi and ecosystem engagement: Decentralized governance with COMP tokens, financial inclusion without traditional verifications, continuous platform innovation and updates.
11. Lido
Best DeFi protocol for ETH staking
Token
LDO
Token max supply
1,000,000,000 LDO
Market cap
$2.215B
TVL
$34.445B
Lido Finance is a DeFi staking protocol offering user-friendly, semi-custodial staking services across multiple cryptocurrencies. Known for its simple interface and decentralized structure, Lido allows users to stake their assets and receive liquid staking tokens, such as stETH, which can be utilized in the broader DeFi ecosystem for yield farming.
Supported by major players in DeFi and endorsed for its reasonable fees and rewarding referral program, Lido maximizes decentralization through its governance token, LDO, allowing stakeholders to partake in decision-making. While Lido streamlines the staking process, users should consider the semi-custodial nature, the staking rewards fees, and potential tax implications associated with rewards.
Semi-custodial service Staking rewards fees Potential tax implications Staking features: Easy and unrestricted staking, maximized earning potential, liquid staking tokens for yield farming.
Earning features: Daily staking rewards, assets used as collateral for lending and yield farming, participation in governance for reward optimization.
Security features: Smart contracts audited by Quantstamp and Sigma Prime, semi-custodial nature maintains user control.
DeFi and ecosystem engagement: Governance via LDO tokens, broad DeFi integration, supports multiple blockchains including Ethereum.
DeFi protocols comparedProtocolTypeTVLTokenNo. of blockchains supportedPancakeSwapDEX$2.224BCAKE9UniswapDEX$5.543BUNI8CurveDEX$2.486BCRV14BalancerDEX$1.242BBAL8Summer.fiDEX$5.345bsummer.fi4AaveLending$10.564BAAVE12MakerDAOLending$7BMKR1CompoundLending$2.668BCOMP4dYdXDEX$401.81MdYdX1LidoStaking$34.445BLDO5De.FiTracker and walletn/aDEFI15What are DeFi protocols?DeFi protocols are sets of rules, procedures, and codes that govern decentralized finance (DeFi) systems, enabling users to engage in activities such as trading, lending, and staking tokens within blockchain ecosystems.
DeFi represents a paradigm shift leveraging blockchain technology, primarily Ethereum, to cultivate an open, permissionless, and borderless financial ecosystem. Unlike traditional systems, developers write smart contracts to deploy DeFi protocols that enable peer-to-peer interactions without intermediaries. By adhering to the same set of rules, DeFi protocols ensure a standardized experience for all participants.
An example of a DeFi protocol is MakerDAO. The popular DeFi lending platform allows users to borrow against their crypto assets by locking them in exchange for a stablecoin, DAI, thus offering more predictable repayment terms despite the volatility of crypto markets.
Other protocols allow you to earn a passive income by generating yield from your staked assets. One popular example is the Lido protocol, which allows you to earn on stETH. Platforms like Lido aim to offer the highest APY on crypto staking, allowing users to maximize returns on their staked assets within the Ethereum ecosystem.
The total value locked (TVL) is often used as a metric to gauge a protocol’s adoption and utility, with MakerDAO being one of the largest by TVL, highlighting its significant role in DeFi.
In 2026, new and more efficient technologies are being developed. For instance, some protocols incorporate asynchronous smart contracts, which allow transactions and agreements to be executed without needing all parties to be present or online simultaneously. This helps streamline operations within networks like Ethereum.
According to DeFiLlama, the top protocol categories are lending, DEXs, bridges, CDP (protocols that mint their own stablecoin using collateralized lending), and restaking.
Protocol categories: DeFiLlamaWhy do you need DeFi protocols?DeFi allows decentralized apps (DApps) and platforms to provide services like crypto lending and crypto yield earning through staking. Users can participate in AMM (automated market maker) systems to improve liquidity.
These features offer a fertile ground for startups to innovate beyond conventional financial products, fostering rapid experimentation and potential disruption. The global accessibility facilitated by DeFi platforms makes them a significant tool for financial inclusion, allowing startups to reach a worldwide audience.
The interoperability among various DeFi protocols enhances this further, enabling seamless integration of services like web3 gaming and metaverse tokens, broadening the scope of what blockchain startups can achieve.
The total value locked (TVL) in DeFi platforms serves as a metric of trust and utility, indicating the number of cryptocurrencies staked, lent, or committed to liquidity pools, highlighting the ecosystem’s growth and stability.
By eliminating intermediaries, DeFi significantly lowers transaction costs, making it an attractive model for startups, especially in crypto lending and yield generation. Instead of being worried about your credit score, you can apply for a crypto loan with fewer restrictions than in TradFi. This reduction in costs, combined with the potential for high crypto yield through mechanisms like staking, positions DeFi as an increasingly popular option for both entrepreneurs and investors in the crypto market.
How do DeFi protocols work?DeFi protocols function by leveraging blockchain technology. While most of them are based on Ethereum, some may also support other networks. At the heart of these services are smart contracts, self-executing contracts with the terms of the agreement directly written into code, which facilitate, verify, and enforce the negotiation or performance of a contract.
DeFi, however, requires thorough research and understanding of several factors, including security, liquidity, and the platform’s governance structure. It’s important to assess the user experience, the degree of interoperability with other DApps and blockchain systems, and the level of community involvement in decision-making processes.
1. Decentralized apps (DApps)Users can engage with various DeFi platforms or DApps to access a wide range of financial services.
One common way to participate is through crypto lending on platforms. Protocols such as Aave or Compound allow you to deposit cryptocurrencies to earn interest. The earnings are measured as Annual Percentage Yield (APY), which is a volatile percentage that corresponds to the market’s demands.
2. Liquidity miningAnother popular DeFi activity is liquidity mining. You can provide liquidity to decentralized exchanges (DEXs) by depositing your assets into liquidity pools. This deposit is usually made for a pair of assets, such as ETH-USDT, but it can be anything else.
In return, you earn rewards, often in the platform’s native tokens. This process is critical for ensuring there is enough market liquidity for trading and is facilitated by AMMs, algorithms used by DEXs to determine the price of tokens and facilitate trades.
3. Swaps (trading)Trading on DEXs is another key function of DeFi protocols. These platforms allow users to trade cryptocurrencies directly with others in a more private and accessible manner than on centralized exchanges.
This not only supports the decentralized ethos of blockchain but also contributes to the Total Value Locked (TVL).
Should you use DeFi protocols?Pros Earn money: You can make your crypto work for you. Put your assets in DeFi platforms to earn interest or rewards. Trade easily: Swap cryptocurrencies directly with others. No need for a middleman. More control: You’re in charge of your money. No bank or institution can block your transactions. Open to everyone: Anyone with an internet connection can join. It’s global and inclusive. Transparent: Everything is recorded on the blockchain. You can see all transactions. New opportunities: Explore new financial services like crypto lending or web3 gaming. Cons Risky: Crypto values can change fast. Your investments can shrink quickly. Complicated: Some DeFi stuff is hard to understand. It’s not always beginner-friendly. Security issues: Hacks happen. If a DeFi platform gets attacked, you might lose your money. No customer support: If you have a problem, there’s no customer service to call. Research needed: You need to do your homework before investing. Not all platforms are safe. High fees: Sometimes, you’ll pay a lot to make transactions, especially when the network is busy. Could DeFi replace traditional finance?Decentralized finance has the potential to usurp traditional institutions, specifically TradFi. Decentralized finance enables users to transact securely, anonymously, and efficiently and is thus likely to gain popularity as web3 and crypto adoption grows. From crypto lending to staking to market makers, DeFi is exciting but also risky.
Do not interact with any DeFi protocols until you have developed a solid plan and are entirely comfortable with the mechanisms of the platform. Always be aware of the potential for losses, and never invest more than you can afford to lose.
Frequently asked questions What is the most popular DeFi protocol? The most popular DeFi protocol is often considered to be MakerDAO. It frequently leads in terms of Total Value Locked (TVL) and has a wide usage across the DeFi ecosystem. MakerDAO’s platform revolves around the generation of DAI, a stablecoin pegged to the U.S. dollar, and enables decentralized borrowing and saving. Its popularity stems from its innovative approach to maintaining currency stability and providing a decentralized credit service.
What are the top five DeFi tokens? The top five DeFi tokens typically include Maker (MKR), Aave (AAVE), Compound (COMP), Uniswap (UNI), and PancakeSwap (CAKE), based on their market capitalization and impact on the DeFi space. These tokens facilitate governance of their respective platforms, offering holders voting rights on decisions and upgrades. They are integral to the operations of these platforms, from lending and borrowing to providing liquidity and facilitating decentralized trading.
What is TVL in DeFi protocols? Total Value Locked (TVL) in DeFi protocols refers to the total amount of assets currently being staked, lent, or deposited within a DeFi protocol’s smart contracts. It serves as a metric to gauge the overall health and growth of the DeFi market, indicating how much money is actively used in these decentralized financial services. A higher TVL suggests greater user trust and utility of the DeFi ecosystem.
How many DeFi protocols are there? The number of DeFi protocols is constantly growing as the space evolves and new projects are launched. There are hundreds of DeFi protocols across various blockchains, catering to different aspects of decentralized finance such as lending, borrowing, trading, and liquidity provision. The exact number can vary daily due to the dynamic nature of the crypto and DeFi industries.
How many DeFi protocols are there? The number of DeFi protocols is constantly growing as the space evolves and new projects are launched. There are hundreds of DeFi protocols across various blockchains, catering to different aspects of decentralized finance such as lending, borrowing, trading, and liquidity provision. The exact number can vary daily due to the dynamic nature of the crypto and DeFi industries.
Is TVL a good metric? TVL is a good metric for understanding the scale and usage of a DeFi protocol, as it reflects the total capital committed by users. However, it should not be the sole metric for assessing a protocol’s value or success, as it does not account for risks, decentralization level, or liquidity. It’s best used in combination with other factors like user growth, transaction volume, and protocol governance for a comprehensive evaluation.
What is a good FDV TVL ratio? A good FDV (Fully Diluted Valuation) to TVL (Total Value Locked) ratio for a DeFi project is typically below one, indicating that the project’s market valuation is not excessively higher than the value of assets locked in the protocol. Lower FDV/TVL ratios suggest that the protocol is undervalued or efficiently using its capital, which can be attractive to investors. However, this ratio should be considered alongside other metrics and project fundamentals for a complete analysis.
What is the TVL formula? The TVL formula in DeFi protocols calculates the total value of all assets deposited in the protocol’s smart contracts, which can include cryptocurrencies, stablecoins, and other tokens. It aggregates the value of these assets, often converting them to a common currency like USD for a standardized measure. The formula is the sum of the value of each type of asset multiplied by its current market price.
How to calculate FDV? The Fully Diluted Valuation (FDV) is calculated by taking the total supply of a token (both circulating and non-circulating) and multiplying it by the current price of the token. This gives an idea of what the market cap would be if all tokens were in circulation and trading at the current price. It’s an important metric for understanding the potential market size and investment risk of a cryptocurrency or DeFi project.
PANews, June 18 — SlowMist founder Cos posted on X that Aztec is suspected of being exploited again, with three suspicious exploits (totaling approximately $2.15 million) involving its Private Rollup Bridge address: The attacker leveraged the Escape Hatch mechanism of Aztec’s RollupProcessor, submitting rollup proofs acceptable to the verifier within the open window, and exploited a vulnerability in the processDepositsAndWithdrawals function to construct three consecutive withdrawals: 1,158 ETH, 150,000 DAI, and 0.4696 renBTC, releasing assets directly from the contract’s custodial reserves to the attacker. The funds mainly flowed to the address 0x6952...E97F, with some ETH already transferred to other addresses, and the attacker’s Gas source was unionchain.ai.
June 18: Slowmist founder Wan Yee announced on social media that Aztec’s Private Rollup Bridge has suffered a suspected security breach, with three suspicious fund transfers siphoning approximately $2.15 million in total assets. Initial investigations show the stolen funds—including ETH, DAI, renBTC, and other custodial holdings—were moved to addresses controlled by the attacker.
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Former Sterling McCall Ford location is among the dealerships now operating under the unified Group 1 brand
, /PRNewswire/ -- As part of its ongoing nationwide initiative to unify its extensive network of dealerships, Group 1 Automotive, Inc., a Houston-based automotive retailer with dealerships across the U.S. and U.K., today highlighted Group 1 Ford of Southwest Houston, formerly Sterling McCall Ford, which has operated under its new name since November 3, 2025.
The southwest Houston dealership is one of a growing number of U.S. locations aligned under the initiative, giving customers a clearer connection to Group 1's scale, resources, and operational standards while preserving the local team, Ford expertise, and customer relationships that have served southwest Houston for decades.
Backed by the scale, resources, and expertise of an international automotive retailer, Group 1 Automotive remains focused on delivering the personalized service and community connections that define the local dealership experience. Learn more at Group1Auto.com.
Better Customer Experience
The transition from Sterling McCall Ford to Group 1 Ford of Southwest Houston is part of a broader effort to create a more consistent customer experience across Group 1's U.S. retail network. The rebrand did not represent a change in ownership, staffing, product offerings, or day-to-day operations, and customers have continued to work with the same local professionals under the new name.
Group 1 Automotive has owned and operated the southwest Houston dealership for more than two decades. The new name formally connects the location to Group 1's national platform, giving local customers the benefit of a familiar southwest Houston dealership supported by the resources, technology, and operational discipline of a larger automotive group.
"Since taking our new name, our customers have found the same local team they know and trust, now with a clearer connection to the strength and resources of Group 1," said Sebastian Olszewski, General Manager of Group 1 Ford of Southwest Houston. "The name on the building changed, but what matters here has not: a consistent, convenient, and transparent experience, whether someone is shopping for a new Ford, servicing their current vehicle, or considering a trade-in."
Continuity of Service and Local Commitment
Group 1 Ford of Southwest Houston continues to serve customers from its existing location at 6445 Southwest Freeway in Houston, Texas, supporting drivers throughout southwest Houston, Bellaire, Sugar Land, and surrounding communities with new Ford vehicles, pre-owned vehicles, Ford service, parts, and maintenance support.
The dealership remains focused on the same local relationships that defined Sterling McCall Ford, while gaining a clearer connection to Group 1's broader retail network. Customers can expect continuity in the sales and service experience, along with the added benefit of a unified Group 1 brand that makes locations easier to recognize, find, and trust across markets.
Additional Customer Questions
Why did Sterling McCall Ford change its name to Group 1 Ford of Southwest Houston?
Sterling McCall Ford became Group 1 Ford of Southwest Houston on November 3, 2025 as part of Group 1 Automotive's effort to create a clearer, more consistent naming structure across its U.S. dealerships. The new name reflects the dealership's connection to Group 1 while continuing to serve customers in southwest Houston and the surrounding communities. As part of the Group 1 network — 250 dealerships offering 37 vehicle brands — the dealership connects customers to new and pre-owned sales, financing, service, parts, and collision support, with a consistent experience from transparent pricing to online scheduling at every Group 1 store.
How should shoppers compare Ford dealerships in a large market?
Useful comparison points include live inventory depth, pricing transparency, current incentives, customer reviews, and the service department's capabilities, including factory-trained technicians and parts availability. For commercial buyers, fleet programs and upfit support can also differentiate stores.
How can shoppers find a specific model or trim in stock?
Most dealership websites offer searchable live inventory filtered by model, trim, color, and features, and many allow shoppers to reserve an in-transit vehicle or request a locate from other stores in the dealer network. Contacting the dealership directly can also surface inbound inventory that has not yet been listed.
What are the benefits of a certified pre-owned vehicle?
Certified pre-owned (CPO) vehicles generally undergo a multi-point factory inspection and reconditioning process and include limited warranty coverage beyond a standard used vehicle. Benefits may also include roadside assistance and a vehicle history report, with specific coverage varying by program and model year.
About Group 1 Automotive, Inc.
Group 1 owns and operates 250 automotive dealerships, 310 franchises, and 32 collision centers in the United States and the United Kingdom that offer 37 brands of automobiles. Through its dealerships and omni-channel platform, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts.
Media Contact:
Kimberly Barta
Head of Marketing, Brand and Communications
[email protected]
503-539-0756
About: Aave is the largest protocol in DeFi, providing the deepest liquidity layer for yield
“The integration of Maple’s dollar assets on Aave connects institutional-grade, overcollateralized yield with the deepest onchain liquidity layer. It unlocks opportunities for fintechs and neobanks looking to bring yields to their users with the sustainability and scalability required to operate at real-world scale.”– Stani Kulechov, Founder Aave Labs
The ContextAave is the largest and most trusted DeFi protocol and lending network. It enables lending and borrowing across all key ecosystems and unlocks yield strategies at scale. Maple, the largest onchain asset manager with $4B+ in AUM, brings its yield-bearing dollar assets backed by overcollateralized lending to Aave. The integration unlocks opportunities for fintechs and neobanks looking to bring yields to their users.
Two major bottlenecks remain even for financial apps that have solved distribution: yield sustainability and scalability. Maple’s deployment on Aave addresses both. SyrupUSDC and syrupUSDT deliver sustainable overcollateralized yields, with capital protected at all times. Aave’s unmatched liquidity ensures that yield generation strategies can scale to tens of billions of dollars that the largest fintechs and neobanks aim to bring.
The IntegrationThe partnership launched in September 2025 with a strategic vision to connect Aave's deep liquidity layer with Maple's institutional asset management infrastructure.
syrupUSDT was first listed on the Plasma instance, followed by syrupUSDT on Aave's core Ethereum market. The integration has since expanded to Base with syrupUSDC, making Maple's yield-bearing assets available across three of Aave's key deployments with hundreds of millions in available capital.
The scalable infrastructure supporting the integration ensures that financial apps can bring yields to their users in a capital efficient and seamless manner. As Maple continues to expand on Aave, even more scalable options for yield will become available.
Full integration documentation is available here.
The OutcomeAave gains two new high-quality collateral assets that bring inflows from fintech and neobank depositors while Maple's network of financial apps gets access to the most liquid and secure yields.
For Aave, Maple unlocks billions in deployable capital seeking stable and scalable returns. For Maple, Aave provides the flexibility and liquidity depth that amplifies its returns and allows it to onboard more fintech partners.
The deepest liquidity layer and the largest onchain asset manager continue to scale together with end users benefitting the most.
Maple Finance announced on February 9 that its web app had a security vulnerability. The issue has been fixed, but as a precaution, the team will temporarily take the web app offline to ensure the fix is fully rolled out. The team confirmed that smart contracts remain unaffected and user deposits are secure. Users will be notified once the web app is back online.
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Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
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SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
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The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
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Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
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SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
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The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
Maple: Web application temporarily offline due to security vulnerability; contracts and user deposits unaffected.
PANews reported on February 9th that Maple, the on-chain asset management protocol, announced a security vulnerability in its web application. The issue has been fixed, but out of an abundance of caution, the web application will be temporarily shut down to ensure a complete fix. Smart contracts are unaffected, and user deposits are safe. Further announcements will be made regarding the web application's reactivation.
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SK Hynix stock price surge expands to 14.7%, Samsung Electronics rises 6%
Maple Finance (SYRUP) is trading near $0.2700 at press time on Friday, with bulls keeping the price buoyant above the S1 Pivot Point support at $0.2497. The on-chain data indicate consistent user demand for the Decentralized Finance (DeFi) protocol, with its Assets Under Management (AUM) exceeding $4 billion and revenue remaining steady after reaching a monthly record high in January. The technical outlook for SYRUP indicates a rebound as selling pressure wanes.
Maple Finance retains revenue, whale interestDune dashboard data indicate that Maple Finance recorded revenue of $1.46 million so far this month, after reaching a record high of $2.57 million in revenue, primarily from lending fees and yield optimization. This reflects a steady increase in monthly revenues, building on the $2.49 million collected in December.
Maple Finance monthly revenue. Source: DuneAdditionally, the protocol's AUM has exceeded $4 billion, while outstanding loan balances account for $1.08 billion. The steady revenue and rising AUM suggest that Maple Finance's ecosystem continues to expand amid increasing market demand.
Maple Finance AUM data. Source: DuneCorroborating the high demand, CryptoQuant data shows consistent interest from large wallet investors, commonly known as whales, based on the average SYRUP order size of executed spot-market trades.
SYRUP spot market indicators. Source: CryptoQuantTechnical outlook: Will SYRUP rebound within the falling channel?Maple Finance is above the S1 pivot point at $0.2497, serving as short-term support following a broader decline over the last 31 days, which has resulted in roughly a 35% loss. This decline reflects a downward trend within a larger descending channel pattern formed by two parallel lines on the daily chart.
A potential rebound in SYRUP could test the 50-day Exponential Moving Average (EMA) at $0.3176, followed by the 200-day EMA at $0.3666 near the overhead resistance line.
The technical indicators on the daily chart suggest that selling pressure is waning. The Relative Strength Index (RSI) is at 36, hovering above the oversold zone and taking a lateral shift after the prevailing decline. Additionally, the Moving Average Convergence Divergence (MACD) approaches the signal line as the histogram's negative component contracts, indicating a potential crossover that would confirm a return to bullish momentum.
SYRUP/USDT daily price chart.However, if SYRUP closes below the $0.2497, it could extend the decline to the S2 pivot point at $0.1937.
TLDR: Yield-bearing stablecoins now combine Treasuries, lending markets, and AI compute revenue models across DeFi platforms. $sUSDS leads the sector with $5.3B TVL and roughly 4% APY from lending and real-world asset strategies. Maple’s $syrupUSDC generates about 4.7% APY through institutional lending to crypto-native borrowers. Gold-backed $pmUSD reportedly delivers the highest yields, ranging between 9% and 22% via Curve liquidity pools. Yield-bearing stablecoins are gaining traction as decentralized finance platforms compete to offer on-chain income products.
Several tokens now promise steady returns backed by different asset structures. Some rely on U.S. Treasuries, while others draw yield from institutional lending or AI infrastructure.
The expanding category shows how stablecoin design continues to evolve across the crypto market.
Yield-Bearing Stablecoins Introduce New DeFi Yield Models The DeFi ecosystem now features several yield-bearing stablecoins with distinct backing structures. Each product relies on a separate revenue engine to generate returns.
$sUSDS currently offers roughly 4% 30-day APY and holds about $5.3 billion in total value locked. The token relies on crypto collateral and real-world assets such as treasuries.
Protocol revenue from lending and real-world asset strategies funds the yield. The structure blends traditional finance exposure with on-chain lending activity.
$syrupUSDC provides around 4.7% 30-day APY and holds roughly $1.7 billion in locked capital. The yield comes from Maple’s institutional lending pools.
According to information shared on X by Edgy from The DeFi Edge, Maple deploys the capital to institutional borrowers. Interest payments generate the returns distributed to holders.
There are several yield-bearing stablecoins gaining real traction right now.
One's backed by treasuries.
One's backed by institutional credit.
One's backed by AI compute lending.
Here are six worth knowing right now, and what's actually backing the yield:
• $sUSDS: ~4% 30d… pic.twitter.com/4YnCeDpWsh
— Edgy – The DeFi Edge 🗡️ (@thedefiedge) March 7, 2026
Another model appears with $USYC. The token holds short-duration Treasuries and fixed-income instruments that drive gradual value appreciation.
Recent yields hover near 3%, while total value locked stands close to $1.9 billion. The structure allows yield to accumulate through price drift instead of explicit distributions.
Different Collateral Strategies Drive Stablecoin Yield Several newer tokens rely on alternative revenue streams beyond traditional lending. These structures attempt to capture emerging sectors within the crypto economy.
$USDai represents a synthetic dollar backed by Treasuries and AI compute lending infrastructure. Staking into $sUSDai exposes holders to those revenue flows.
Current yields approach 6.5%, while total value locked remains near $339 million. The token links stablecoin demand with AI compute financing markets.
$coreUSDC follows a vault strategy built around automated rebalancing. Deposited USDC moves between lending platforms including Euler and Morpho.
The system adjusts allocations across protocols to capture available lending yields. Current returns average about 6.3%, according to figures shared by The DeFi Edge.
Another model appears with $pmUSD, a stablecoin minted against tokenized gold collateral. Liquidity from the token primarily flows into Curve-based strategies.
Liquidity provider strategies reportedly produce yields ranging between 9% and 22%. These returns depend on liquidity incentives and market conditions within Curve pools.
The expanding list reflects growing experimentation across the stablecoin sector. Developers now test different combinations of real-world assets, DeFi lending, and infrastructure financing.
TLDR Yield-bearing stablecoins grew 15 times faster than the broader stablecoin market over six months. Circle’s USYC and Paxos’ USDG led gains with market cap increases of 198% and 169%. The total value of yield-bearing stablecoins reached $22.7 billion after an 11% monthly rise. Maple’s Syrup USDC offered the highest weekly yield at 4.54% APY, according to Messari. US lawmakers remain divided as the Senate delays action on the crypto market structure bill. Yield-bearing stablecoins expanded rapidly over the past six months, according to Messari. The research firm reported that these tokens grew 15 times faster than the broader stablecoin market. However, US lawmakers remain divided over how federal law should treat crypto-linked yield.
Messari published its findings on Thursday and outlined sharp market cap increases across major tokens. The report showed that yield-bearing products attracted rising demand while the overall stablecoin market grew modestly. Meanwhile, lawmakers continue to debate provisions in pending digital asset legislation.
USYC and USDG Lead Growth in Stablecoins Segment Circle’s USYC recorded a 198% increase in market capitalization over six months. Paxos’ Global Dollar (USDG) posted a 169% rise during the same period. Messari stated that these gains far outpaced the 9% growth in the broader stablecoin market.
The firm said the largest yield-bearing stablecoins now function like money market funds or bank deposits. “The winners don’t do payments,” Messari wrote in the report. It added that leading issuers focus on single-asset exposure rather than payment use cases.
Yield-bearing stablecoins began outpacing overall supply growth in mid-October 2025. The trend pointed to a stronger demand for blockchain-based dollar products offering yield. Stablewatch data showed the sector reached $22.7 billion after an 11% rise in 30 days.
That figure doubled the $11 billion recorded in May 2025. Still, yield-bearing tokens account for 7.4% of the $303 billion stablecoin market. The share stood at 4.5% in May last year.
USDD, USDY, and Top APYs Draw Policy Scrutiny Tron DAO-linked Decentralized USD (USDD) rose 114% in market value over six months. Ondo Finance’s Ondo US Dollar Yield (USDY) increased 91% during the same timeframe. DefiLlama ranked Sky’s sUSDS, Ethena’s sUSDe, and Maple’s Syrup USDC among the largest by value.
Maple’s Syrup USDC offered a 4.54% annual percentage yield this week. Maple USDT followed with a 4.17% APY, while Sky Lending’s sUSDS posted 3.75%. Ethena’s USDe delivered a 3.49% APY, according to Messari data.
Lawmakers continue to debate how to regulate yield-bearing stablecoins under federal law. Senate Majority Leader John Thune said the chamber will not advance the market structure bill before April. Banking groups argue that yield features could shift deposits away from traditional banks.
The Senate Banking Committee delayed its markup in mid-January as bipartisan talks continued. President Donald Trump criticized the delay and urged faster action on the bill. The House passed the Digital Asset Market Structure Clarity Act on July 17, 2025.
The GENIUS Act became law on July 18, 2025, and it restricts interest on payment stablecoins. However, the law allows third-party platforms to offer reward programs tied to holdings. Debate over yield provisions continues as the Senate reviews the legislation.
Yearn Finance launched yvUSD on January 19, 2026. It’s a V3 cross-chain, cross-asset stablecoin vault, not a simple USDC-only vault, with zero management fees, zero performance fees, and two deposit modes. At the time of writing it runs nine active yield strategies, though that number is dynamic and managed by the vault operator. If you’ve been watching the stablecoin yield space this year, those numbers alone probably caught your attention. Zero fees on a yield aggregator is unusual. Strategies spanning lending, fixed income, and points farming is ambitious. And the two-mode system (unlocked vs. locked) is a design choice I haven’t seen done quite this cleanly before.
This article breaks down how the vault actually works, where the yield comes from, what the risks look like in practice, and how it stacks up against the alternatives. I’ve tried to write the kind of analysis I’d want to read before putting real money into this thing.
What yvUSD is, mechanically At the contract level, yvUSD is a Yearn V3 Allocator Vault. That means it’s an ERC-4626 compliant smart contract that accepts USDC deposits on Ethereum mainnet, mints shares proportional to your deposit, and then deploys that capital across a portfolio of yield-generating strategies spanning multiple stablecoins and chains. Yearn’s own announcement describes it as “a cross-chain, cross-asset vault for best in class stablecoin yield.” The deposit token is USDC, but the vault’s strategies convert into sUSDS, siUSD, and other stablecoin derivatives as part of normal operation.
ERC-4626 matters here because it’s become the standard interface for tokenized vaults in DeFi. Any protocol that supports 4626 can plug into yvUSD without custom integration work. Your shares are yield-bearing ERC-20 tokens, which means they’re transferable, composable, and can be used as collateral elsewhere if a lending market accepts them.
The V3 architecture is a big upgrade from Yearn’s V2 system. In V2, strategies were locked to a single vault in a one-to-one relationship. In V3, strategies are themselves standalone ERC-4626 compliant contracts, Yearn calls them “Tokenized Strategies.” Per Yearn’s V3 docs: “strategies are now fully ERC-4626 compliant, stand-alone vaults” that “can now be connected to many different vaults simultaneously and can also be deposited into directly by an end user.” This is a meaningful architectural change: strategies can serve multiple allocator vaults, and users can deposit into individual strategies directly if they want to bypass the allocator entirely.
The practical implication: yvUSD’s current strategies are modular. They can be added, removed, or rebalanced without migrating the entire vault. The Debt Allocator contract handles capital distribution across strategies based on target allocations set by the vault manager, and an on-chain APR Oracle helps inform those allocation decisions.
Vault specs as of March 13, 2026:
Asset: USDC (Ethereum mainnet, cross-chain via Circle’s CCTP) TVL: $3.02M Fees: 0% management, 0% performance Risk score: 3/5 (Yearn’s self-assessment) Contract: 0x696d02Db93291651ED510704c9b286841d506987 (per the Yearn UI vault page; note that yvUSD may use multiple contracts across its allocator and strategy architecture, always verify the address you’re interacting with on yearn.fi directly) The unlocked/locked design This is the architectural decision that distinguishes yvUSD from a standard Yearn vault. When you deposit, you choose between two modes.
Unlocked gives you withdrawal access at any time, subject to the vault’s liquidity buffer. At the time of writing, the displayed estimated APY is around 7.14%, but this number is a trailing estimate that fluctuates based on strategy performance, incentive programs, and capital allocation. The Yearn UI may show substantially different numbers depending on the calculation window (7-day, 30-day, inception). Don’t treat any displayed APY as a fixed rate. The vault ensures it always has enough capital parked in short-duration, liquid strategies (sUSDS, basic Morpho lending) so that unlocked depositors can exit without delay.
Locked imposes a 14-day cooldown period after you signal your intent to withdraw, followed by a 5-day window during which you can actually pull your funds. In exchange, the vault can deploy your capital into longer-duration positions that pay more, things like Pendle principal tokens with fixed maturities, deeper leverage loops on Morpho, and cross-chain L2 plays.
The idea borrows from a concept that InfiniFi (one of the protocols integrated into the vault) has been developing: depositor-directed duration matching. Traditional banks take deposits and invest them into long-duration assets while hoping everyone doesn’t withdraw at once. yvUSD instead lets depositors explicitly reveal their liquidity preferences, then builds the portfolio accordingly. Locked capital funds the higher-yield, longer-duration strategies. Unlocked capital stays in liquid backstops. The vault knows exactly how much of its capital has a 14-day minimum lockup, which means it can allocate with more precision than a vault that has to assume 100% of deposits might leave tomorrow.
It’s a clean tradeoff, and worth thinking through carefully. If you’re not sure you’ll need the money in the next three weeks, locked mode is strictly better. If there’s any chance you’ll need fast access, stay unlocked and accept the lower rate.
Active strategies: where the yield comes from Everything is published on-chain, and the DeBank bundle shows live positions in real time. The vault currently runs nine strategies (this count is dynamic and managed by the vault operator). Here’s the approximate allocation as of March 13, 2026.
Morpho Yearn OG USDC Compounder (28% allocation, ~3.81% APY) This is the vault’s largest single position and its most conservative strategy. It deposits USDC into Morpho Blue’s isolated lending markets, specifically into markets curated by Yearn’s own risk team.
Morpho Blue, for those unfamiliar, is a permissionless lending primitive that launched as an evolution of Morpho’s original peer-to-peer optimization layer. Each Morpho Blue market is an isolated pair (one collateral asset, one loan asset) with immutable parameters. Risk doesn’t bleed between markets the way it can in pooled protocols like Aave. The tradeoff is that you need to pick your markets carefully, or delegate that decision to a curator.
The 3.81% APY comes from borrower interest. It’s real yield in the most traditional DeFi sense: someone is paying to borrow USDC, and you’re earning a share of that interest. Conservative, predictable, and the risk profile is well-understood after years of lending protocol history.
USD3 Pendle PT Maxi (20% allocation, ~7.99% APY) This is where the vault’s yield starts to get interesting. The strategy buys Pendle Principal Tokens (PTs) denominated in USD3 at a discount to face value and holds them to maturity.
A quick primer on how Pendle PTs work. Pendle splits a yield-bearing asset into two tokens: a Principal Token (PT) that’s redeemable 1:1 for the underlying at maturity, and a Yield Token (YT) that captures all the variable yield until that date. If you buy PT at a discount before maturity, you’ve effectively locked in a fixed yield, the spread between your purchase price and the redemption value.
So if PT-USD3 trades at $0.96 with a 6-month maturity, buying it and holding to expiration gives you roughly 8% annualized. No variable rate risk, no dependency on borrow demand staying high. The yield is encoded in the purchase price.
The risk here is duration. If the vault needs to exit this position before maturity, it has to sell the PT on the open market, potentially at a loss if rates have moved against it. This is one of the key reasons the locked/unlocked design exists. Locked capital can ride PTs to maturity. Unlocked capital stays out of these positions (or the vault maintains enough liquid buffer to cover unlocked withdrawals regardless).
Pendle has become a dominant venue for this kind of fixed-income DeFi. According to CoinMarketCap’s Pendle analysis, stablecoins now account for roughly 83% of Pendle’s TVL. The protocol also transitioned from vePENDLE to a liquid staking model (sPENDLE) on January 20, 2026, replacing multi-year lock-ups with a 14-day withdrawal period and directing up to 80% of protocol revenue to PENDLE buybacks for sPENDLE holders.
InfiniFi sIUSD Morpho Looper (19% allocation, 0% base APY) This is the most unusual position in the vault, and the one that confuses people when they look at the strategy list. It shows 0% APY. Why would the vault put 19% of its capital into something earning zero?
The answer is points farming.
InfiniFi is a DeFi protocol that replicates fractional reserve banking on-chain. Users deposit USDC, mint iUSD receipt tokens, then choose between liquid staking (siUSD) or locked positions (liUSD) with different yield profiles. Per DefiLlama, InfiniFi holds roughly $170M in TVL, and Messari reports $175M. The protocol is heading toward a token generation event (TGE) expected in early-to-mid 2026.
The vault deposits into InfiniFi, receives siUSD, then loops that position through Morpho to amplify its exposure. The 0% base APY is accurate in that no interest is being paid right now. But InfiniFi Points are accruing on the position, with enhanced multipliers for the strategies involved. Pendle’s siUSD pools are offering up to 4.5x point multipliers on YT positions.
When InfiniFi’s TGE happens, Yearn will monetize the accumulated points, likely through their signature permissionless Dutch auction system or OTC deals, and funnel the proceeds back into the vault. Your price-per-share goes up, and the retroactive APY on this strategy could end up being substantial. Or it could be modest. Nobody knows what InfiniFi tokens will be worth at launch.
This is the speculative component of the vault, and you should be clear-eyed about it. About 19% of the vault’s capital is sitting in a position that earns nothing today, betting on future token value. Yearn has historically been good at monetizing these positions (they’ve been doing it since the Curve wars era), but it’s still a bet, not a guaranteed yield stream.
USDC to sUSDS Depositor (10% allocation, ~3.82% APY) This strategy converts USDC to USDS, Sky Protocol’s stablecoin, and deposits it into the Sky Savings Rate module, receiving sUSDS in return. USDS is positioned as the successor to DAI within the Sky ecosystem (formerly MakerDAO), with a 1:1 upgrade path from DAI to USDS. Both tokens still exist; DAI has not been retired or renamed, but USDS is where Sky Protocol is directing new development and integrations.
The Sky Savings Rate is funded by Sky Protocol’s revenue, which comes from crypto collateralized loans, U.S. Treasury bill investments, and liquidity provisioning into SparkLend. As of March 2026, sUSDS yields around 4% APY. Sky Frontier Foundation’s own press release from March 6, 2026 describes sUSDS as having “+$10 Billion in supply,” making it the largest yield-generating stablecoin by market cap. (Note: this $10B figure refers to total sUSDS tokens in circulation, not to be confused with the larger DAI/USDS base stablecoin supply.)
For the vault, sUSDS serves a dual purpose. It generates reliable baseline yield (Sky Protocol’s revenue model is diversified and has operated for years under its prior MakerDAO branding), and it’s highly liquid with no withdrawal constraints. This is part of the vault’s liquidity buffer, the safe money that ensures unlocked depositors can always exit.
The risk here is mostly stablecoin peg risk: USDS could theoretically depeg from the dollar, or the conversion path USDC to USDS could involve slippage. In practice, USDS has maintained its peg reliably through years of market stress as DAI, and the conversion path is well-established.
syrupUSDC/USDC Morpho Looper (10% allocation, 0% base APY) Similar to the InfiniFi strategy, this position earns 0% in direct interest but farms points from Maple Finance’s syrupUSDC program. It’s a leveraged lending position on Morpho that amplifies exposure to Maple’s rewards program.
Maple has been rebuilding after its 2022 credit crisis, and syrupUSDC represents their new institutional lending product. The points here are a bet on Maple’s token economics and the value of being early to their relaunched ecosystem.
Same logic as the InfiniFi position: no yield today, speculative upside tomorrow. Same honest assessment: it could pay off well, or it could amount to very little.
PT siUSD March Morpho Looper (6% allocation, ~10.8% APY) This is the highest-APY strategy in the vault. It buys Pendle PT-siUSD tokens (which mature March 26, 2026) and leverages the position through Morpho to amplify the fixed yield.
The base PT yield is attractive on its own, around 9% fixed according to InfiniFi’s Pendle V2 pool data. The Morpho loop borrows against the PT position to buy more PTs, stacking the fixed yield. If the PT yield is 9% and you can borrow USDC at 4%, the spread gets amplified through leverage.
The risk here is compounded: you have PT duration risk, Morpho liquidation risk if collateral ratios move unfavorably, and the underlying InfiniFi counterparty risk, all stacked. At only 6% of the vault, this is sized as a satellite position rather than a core holding, which seems appropriate given the risk stack.
Smaller allocations (remaining ~7%) Three additional strategies round out the portfolio. The exact compositions shift as the vault rebalances, but they generally involve smaller Morpho lending positions and additional PT exposures across different maturities. They provide diversification within the strategy mix without materially changing the overall risk profile.
Where the APY numbers actually come from Here’s the honest version of what to expect.
Sustainable baseline (unlocked): roughly 6-8% APY, estimated. This range is derived from the combination of Morpho lending (~3.8%), Pendle PT strategies (~8-10%), and sUSDS (~3.8%), blended across the portfolio. Even if every points program goes to zero, this baseline should hold because it’s driven by real borrow demand, fixed-income instruments, and protocol revenue. It already beats Aave’s 3-5% and Morpho direct lending’s 4-8% after their respective fee structures. But this is an estimate based on current allocations. It is not a guaranteed rate, and it will shift as strategies are rebalanced and market conditions change.
Points premium: highly variable. The InfiniFi and syrupUSDC strategies (about 29% of the vault combined) are currently earning zero direct yield. Their eventual contribution depends entirely on token launch valuations and Yearn’s monetization execution. In a good scenario, this could add several percentage points to the annualized return. In a disappointing scenario, it might add very little.
The 54.4% 30-day APY on the vault page is misleading. It includes temporary launch incentives and early points monetization events that won’t recur. If you’re making a deposit decision based on that number, recalibrate. Plan around 6-8% and treat anything above that as a bonus.
How Yearn monetizes points (and why it matters that you don’t have to) This is one of the smartest parts of the design, and it’s worth understanding.
When you deposit into yvUSD, all points and reward tokens accrue to the vault’s contract address, not to your wallet. You never claim anything. You never pay gas to harvest. You never have to research which airdrop campaigns are running or track eligibility criteria.
When a points program converts to tokens (at TGE or during a liquidity event), Yearn’s system handles monetization. They typically use one of two mechanisms: OTC deals with market makers who want early token access, or their permissionless Dutch auction system where tokens are sold on-chain in a declining-price auction until clearing.
The proceeds flow back into the vault as additional USDC. Your share of that USDC shows up as an increase in the vault’s price-per-share (PPS). From your perspective, your yvUSD tokens are simply worth more when you redeem them.
The tradeoff is real, though. If InfiniFi’s token launches and immediately does a 50x, you don’t capture that upside, because Yearn sold the tokens at whatever price cleared the auction. You traded potential token moonshot exposure for guaranteed passivity. For most people holding stablecoins, that’s the right tradeoff. But if you’re the type who wants to hold and time individual airdrops, yvUSD isn’t designed for you.
Risk analysis Yearn rates yvUSD at 3/5 on their internal risk scale. That’s an honest number, not a conservative one. Here’s what’s driving it.
Smart contract risk: medium-high Multiple strategies (nine at the time of writing, subject to change) means a large set of smart contracts interacting with the vault. Each strategy interfaces with at least one external protocol (Morpho, Pendle, InfiniFi, Sky). The total smart contract surface area is large. Yearn’s V3 codebase has been audited and has processed hundreds of millions in TVL across other vaults, but the specific strategies in yvUSD are newer and less battle-tested.
A bug in any single strategy could result in losses to the portion of capital deployed there. Yearn’s architecture does provide some containment, since strategies can be revoked and capital recalled if issues are detected, but forced revocation during an exploit can still crystallize losses.
Leverage risk: present The Morpho looper strategies (InfiniFi looper, syrupUSDC looper, PT siUSD looper) use leverage. They borrow against their positions to amplify exposure. In normal markets, this amplifies yield. In stressed markets, it amplifies losses and can trigger liquidation.
Morpho’s isolated market design means a liquidation in one market doesn’t cascade into others, which is meaningfully better than pooled alternatives. But if a borrowed position hits its LLTV (Liquidation Loan-to-Value) threshold at oracle prices, the collateral gets sold. For looped positions, this can unwind rapidly.
Duration risk: present (especially in locked mode) Pendle PT strategies have fixed maturities. The USD3 Maxi position and the PT siUSD looper are both committed to specific expiry dates. If conditions change and the vault needs to exit early, it has to sell at market prices, which may be unfavorable.
The locked/unlocked design mitigates this significantly. Locked capital is deployed into duration-sensitive strategies with the explicit understanding that it won’t be withdrawn for at least 14 days. Unlocked capital avoids these positions. But if a large amount of unlocked capital tries to exit simultaneously and the liquid buffer is insufficient, there could be withdrawal delays.
Counterparty risk: moderate The vault depends on InfiniFi, Sky Protocol, Pendle, and Morpho functioning correctly. Each of these is a separate protocol with its own governance, codebase, and risk profile.
InfiniFi, in particular, is the youngest and least proven of the group. It has roughly $170M TVL per DefiLlama and a pre-TGE token, meaning its incentive structures are still evolving. Sky Protocol (the rebranded MakerDAO ecosystem) is at the opposite end of the spectrum, one of the most established DeFi protocols in existence.
Bridge risk: low Cross-chain activity uses Circle’s CCTP (Cross-Chain Transfer Protocol), which burns and mints native USDC rather than relying on wrapped tokens or bridges with independent validator sets. CCTP is widely regarded as the safest cross-chain mechanism for stablecoins, since it leverages Circle’s own attestation network. The risk isn’t zero (Circle is a centralized entity), but it’s meaningfully lower than most bridge alternatives.
Competitive landscape Aave V3 Morpho direct yvUSD (unlocked) yvUSD (locked) Expected APY 3-5% 4-8% 6-8% sustainable Higher (not disclosed) Fees Variable Curator-dependent 0% / 0% 0% / 0% Withdrawal Instant Instant Instant (with buffer) 14-day cooldown Smart contract risk Very low Low-medium Medium-high Medium-high Leverage exposure None None Yes (partial) Yes (more) Effort required None Low None None Points/airdrop exposure None Possible (via curator) Yes (passive) Yes (passive) Aave remains the obvious choice if you want the simplest, most proven option. Five years of operation, enormous TVL, instant withdrawals. The yield reflects that safety, you’re paying for simplicity with lower returns. Currently around 3-5% on USDC after the protocol’s fee cut.
Morpho direct lending (via curated MetaMorpho vaults) gives you 4-8% with more granular risk selection. You choose which vault, which curator, which risk profile. The recent Telegram integration and institutional partnerships suggest Morpho’s distribution is expanding, which should sustain borrow demand. But you’re trusting a curator’s allocation decisions, and the newer isolated markets have a shorter track record.
yvUSD sits at the higher end of both yield and complexity. The 6-8% sustainable baseline comes from combining multiple yield sources that individually would be accessible but tedious to manage. The zero-fee structure means every basis point of yield goes to depositors, which is rare for an aggregator. Yearn’s V2 vaults charged 2% management and 20% performance fees. The V3 yvUSD vault charges nothing.
The competitive question is whether the additional 2-4% yield over Aave justifies the additional risk surface. For someone sitting on stablecoins they don’t need for three months, I think the answer is probably yes, especially in unlocked mode where you retain withdrawal flexibility. For someone who can’t tolerate any smart contract risk beyond the most battle-tested protocols, Aave is still the right call.
Projected returns on $100K Assuming daily compounding:
Timeframe Conservative 7% APY Boosted ~40% APY (temporary) 1 month ~$583 ~$3,300 3 months ~$1,750 ~$10,000 6 months ~$3,500 ~$20,000 12 months ~$7,000 N/A (won’t persist) The 7% column is your planning number. The boosted column is useful for understanding what the first few weeks or months might look like while incentive programs are active, but don’t build a financial plan around it.
Getting started Navigate to yearn.fi/v3/1/0x696d02Db93291651ED510704c9b286841d506987 Connect your wallet Choose unlocked or locked mode Deposit USDC and receive yvUSD shares There is no step 5. No claiming, no harvesting, no rebalancing. Your PPS increases as the vault accrues yield. To monitor positions: DeBank transparency bundle
What’s next: yvBTC Yearn has signaled that yvBTC is coming, following the same zero-fee, cross-chain, delta-neutral philosophy applied to Bitcoin. If yvUSD proves the model works for stablecoins, yvBTC would extend it to the most held crypto asset. Worth watching, though no timeline has been confirmed.
Where I land yvUSD is a well-designed product for a specific user: someone holding USDC who wants more than money-market rates, doesn’t want to actively manage positions across five different protocols, and is comfortable with a 3/5 risk profile in exchange for 6-8% passive yield.
The zero-fee structure is the detail that moves it from “interesting” to “worth seriously considering.” In most yield aggregators, fees eat 20% or more of your returns. Here, every basis point goes to depositors. That’s a meaningful edge over time.
The risk is real. Multiple strategies, leverage in the mix, points bets on pre-TGE tokens, duration exposure in Pendle PTs. None of this is Aave-simple, and the vault page doesn’t hide that (the 3/5 self-rating is refreshingly honest). But the risks are transparent, verifiable on-chain, and sized proportionally within the portfolio. The conservative core (Morpho lending + sUSDS) accounts for nearly 40% of the vault. The speculative tail (points farming) accounts for about 29%. The fixed-income middle (Pendle PTs) fills the rest.
If you’re comfortable with that structure, deposit what you can afford to have illiquid for a couple of weeks in the worst case. Start with unlocked mode if you’re cautious. And check the DeBank bundle periodically to verify the vault’s positions match what’s described here, because in DeFi, the ability to verify is the whole point.
This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and understand the risks before making any investment decisions.
About: Aave is the largest protocol in DeFi, providing the deepest liquidity layer for yield
“The integration of Maple’s dollar assets on Aave connects institutional-grade, overcollateralized yield with the deepest onchain liquidity layer. It unlocks opportunities for fintechs and neobanks looking to bring yields to their users with the sustainability and scalability required to operate at real-world scale.”– Stani Kulechov, Founder Aave Labs
The ContextAave is the largest and most trusted DeFi protocol and lending network. It enables lending and borrowing across all key ecosystems and unlocks yield strategies at scale. Maple, the largest onchain asset manager with $4B+ in AUM, brings its yield-bearing dollar assets backed by overcollateralized lending to Aave. The integration unlocks opportunities for fintechs and neobanks looking to bring yields to their users.
Two major bottlenecks remain even for financial apps that have solved distribution: yield sustainability and scalability. Maple’s deployment on Aave addresses both. SyrupUSDC and syrupUSDT deliver sustainable overcollateralized yields, with capital protected at all times. Aave’s unmatched liquidity ensures that yield generation strategies can scale to tens of billions of dollars that the largest fintechs and neobanks aim to bring.
The IntegrationThe partnership launched in September 2025 with a strategic vision to connect Aave's deep liquidity layer with Maple's institutional asset management infrastructure.
syrupUSDT was first listed on the Plasma instance, followed by syrupUSDT on Aave's core Ethereum market. The integration has since expanded to Base with syrupUSDC, making Maple's yield-bearing assets available across three of Aave's key deployments with hundreds of millions in available capital.
The scalable infrastructure supporting the integration ensures that financial apps can bring yields to their users in a capital efficient and seamless manner. As Maple continues to expand on Aave, even more scalable options for yield will become available.
Full integration documentation is available here.
The OutcomeAave gains two new high-quality collateral assets that bring inflows from fintech and neobank depositors while Maple's network of financial apps gets access to the most liquid and secure yields.
For Aave, Maple unlocks billions in deployable capital seeking stable and scalable returns. For Maple, Aave provides the flexibility and liquidity depth that amplifies its returns and allows it to onboard more fintech partners.
The deepest liquidity layer and the largest onchain asset manager continue to scale together with end users benefitting the most.
TORONTO — The federal government is preparing to inject more money into Canada’s venture capital market than ever before, but investors say the success of its latest startup funding program will depend on whether private capital—particularly from the pension funds—can match the government’s pledge.
In its 2025 budget, Ottawa committed $1 billion to the Venture and Growth Capital Catalyst Initiative (Growth VCCI), the successor to its flagship venture funding program. The government also earmarked $750 million for a separate pool meant to help startups scale after their early funding rounds. Together, the programs represent a major expansion of federal support for startups and scaleups at a moment when fundraising has become more difficult and exits remain scarce.
Talking Points
Ottawa’s largest-ever venture capital program depends on greater participation from pension funds The program is launching into a weaker fundraising market, where fewer new venture funds are being formed For investors, though, the scale of the government’s commitment is both welcome and daunting.
“This will require deeper pockets,” said Senia Rapisarda, managing partner of HarbourVest, who oversees the Boston-based firm’s Canadian business. “We will need a lot of support.”
The government’s latest VC commitment dwarfs its predecessor, the Venture Capitalist Catalyst Initiative, or VCCI. The program started as the Venture Capital Action Plan in 2013 with $390 million from the Conservative government. The Liberals continued the program under the VCCI moniker, contributing $371 million in 2017, and increased the pool to $450 million for the 2021 iteration.
Typically, Ottawa distributes most of the money through VC fund managers that the government selects through an application process. The government has picked the same four funds—HarbourVest Canada, Teralys Capital, Kensington Capital Partners and Northleaf Capital Partners—since 2013. Those funds then have to raise capital from private investors, historically two to three dollars for every public dollar they receive. For Growth VCCI, Ottawa has proposed the funds raise three dollars for each dollar the government contributes.
The structure has worked for more than a decade, stretching public dollars further and helping build the funding network to grow Canadian startups. It hasn’t always been easy for the VCCI funds to raise enough private capital to match the government’s contribution, with several investors in the last iteration taking longer than expected to close their funds.
Since then, it’s only become more difficult to raise new venture funds. A recent report from RBCx, the tech and innovation banking arm of RBC, shows that Canadian venture funds raised about $2.1 billion in 2025, a 39-per-cent drop from the year before. “Private capital seems to be taking a step back for a variety of reasons,” said Patrick Lor, managing partner at Panache Ventures, pointing to higher interest rates and the lack of company exits, leaving less cash cycling through the VC market. “That’s what’s going to make it tough,” Lor said of raising the Growth VCCI funds.
Canadian VC investors have long been pushing the country’s biggest pension funds to write more cheques to VC funds, without much response. Rapisarda said that while smaller, union pensions often contribute to funds like HarbourVest’s, they don’t have the financial heft of the Maple 8. Instead, much of the private capital backing earlier VCCI funds came from family offices, high-net-worth individuals and smaller institutional investors—sources that typically write smaller cheques that take longer to sign.
Ottawa has been explicit about wanting the pensions to buy into Growth VCCI. The 2025 budget framed the new program as a way to “leverage more private capital by incentivizing pension funds and other institutional investor participation,” signalling that Canada’s largest pools of capital are expected to play a bigger role in financing the next generation of venture funds in the country.
The government is still in the process of designing the program and hasn’t said how it plans to incentivize the pensions and larger institutional investors to participate this time around. None of the pension funds that make up the Maple 8 would say whether they plan to invest in the program, with some of them citing active consultations on the program.
Some investors, however, say the environment may be shifting in Ottawa’s favour. Matt Cohen, managing partner at Ripple Ventures, a Toronto-based VC firm, said he is seeing more openness from pension funds and other large institutional investors than in previous cycles, driven in part by political pressure to invest domestically and a growing number of Canadian companies seeking capital.
“I’m feeling more optimistic around the conversations we’re having,” said Cohen, adding that institutional investors are “willing to listen more than ever” about venture opportunities and how they might participate.
Investors say a stronger buy-in from Canadian institutions is becoming more important as more startups in the country reach later stages of growth. Cohen said building a deeper pool of domestic capital could help keep Canadian companies in Canada as they scale, rather than relying on foreign investors for follow-on funding.
Peter van der Velden, managing general partner at Toronto-based life sciences investment firm Lumira Ventures, said venture investors and the companies they back need clarity soon on what to expect from the government’s VC strategy. With the 2021 VCCI program, there was a three-year lag between announcing the money and the participating investors raising their funds. Van der Velden said the market can’t wait that long this time, warning that prolonging the program’s launch risks slowing deal making at a time when investors are already struggling to fundraise. “We’ve had very little fund formation, he said. “The capital is needed today.”
March 26 — Cryptocurrency incubator Obex has launched a $1 billion fund linking the Sky ecosystem’s USDS stablecoin to real-world asset (RWA) yields, targeting credit, energy, and AI asset sectors—including tokenized AI data centers, housing, and energy infrastructure products. The initiative aims to help Sky move beyond “circular” crypto-native yields, offering USDS holders higher-quality, sustainable returns. Sky, the world’s third-largest stablecoin issuer with ~$10 billion in USDS circulation, is projected to generate $435 million in annualized revenue by 2025. It also plans to push USDS circulation above $20 billion next year. Previously, Obex was granted authority to allocate up to $2.5 billion from Sky’s reserves to RWAs—this $1 billion fund marks the first tranche of that allocation. Partners include Maple, USD.ai, Daylight, Centrifuge, Securitize, River, TVL Capital, and Better.
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Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
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SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
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The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
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Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
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SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
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The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
PANews reported on March 26th that, according to CoinDesk, Obex, an incubator backed by Framework Ventures, has begun deploying $1 billion to link the Sky ecosystem's USDS stablecoin to yields from real-world assets such as AI data centers, energy, and housing, expanding stablecoin yield sources from crypto-native cycles to real-world assets. Initial partners include Maple, USD.ai, Daylight, Centrifuge, Securitize, River, TVL Capital, and Better. These institutions will bring real-world economic sectors such as lending, housing finance, energy, and AI infrastructure onto the blockchain through tokenization. It is understood that Obex received authorization last year to allocate up to $2.5 billion of Sky's USDS reserves to real-world assets to generate yields.
