Your overview of weekly DeFi and staking yields, all in one place.
This week brought major policy shifts with potential to reshape onchain capital flows. The SEC issued landmark guidance on liquid staking, clarifying that “staking receipt tokens” are not securities when providers act purely in an administrative capacity. By resolving a key legal grey area, the ruling could accelerate institutional participation in liquid staking protocols, so long as operations stay within the outlined conditions. Source
Alongside regulatory clarity, we’re seeing strong stablecoin yields on Morpho, Euler, and Yearn – all of which are integrated with the Yield.xyz API. We’ve also provided updates on liquid staking and native staking, with current APYs listed below.
Yield Updates: Liquid Staking, Stablecoins, Lending Rates, and More
Stablecoin lending rates are climbing across markets as recent regulatory clarity makes investors more willing to deploy, with Morpho’s stablecoin vaults once again hitting double-digit APYs. Liquid staking yields remain steady as the market recovers from a brief dip.
Stablecoin Yields
- DeFi Vaults:
- USDC: Re7 USDC Core Morpho Vault 16.34% APY
- USDT: EVK Euler Vault 23.31% APY
- USDS: Yearn Vault V3 7.17% APY
- USDe: Apostro Ethena USDe Morpho Vault 8.30% APY
- Lending Markets:
- USDC: Swaap Lend USDC 9.26% APY
- USDT: Tether USD Landing Fluid Vault 8.89% APY
- USDS: Aave V3 Landing 4.11% APY
- USDe: Aave V3 Landing 3.59% APY
Liquid Staking & Restaking
- stETH (Lido): 2.72% APY
- eETH (EtherFi): 3.20% APY
- mETH (Mantle): 2.89% APY
- sAVAX (Benqi): 4.58% APY
Native Staking
- SOL: SOL Native Multivalidator Staking 6.5% APY
- TON: Tonstakers Staked TON 3.97% APY
- TRX: JustLend staked TRX 5.88% APY
- DOT: Venus Landing 0.64% APY
- POL: Native Staking 3.94% APY
Protocol & Infrastructure Highlights
Aave V4 is feature-complete and in final internal review, with Certora led verification and multi firm audits underway. Modular “Spokes” are live on an internal devnet, enabling full architecture testing. A public testnet launch with the first Spokes set is planned this month. Source
Gearbox has launched on Hemi, a modular Bitcoin Ethereum Layer 2, enabling permissionless lending for HemiBTC and USDC.e with $10K in incentives for early liquidity. Users can passively lend or borrow against ETH, bfBTC, WBTC, and more, with no fees, lockups, or impermanent loss. The deployment leverages Gearbox’s audited, battle tested permissionless stack, curated by Invariant Group. Source
Pendle debuted Boros on Arbitrum, a platform for trading BTC and ETH funding rates with fixed to float swaps, $10 million open interest caps, and planned liquidity incentives. Source
Marinade Finance took action against malicious validators abusing MEV strategies to protect staking yield integrity, while Jito was explicitly cited in the SEC’s liquid staking guidance as a compliant, non custodial protocol, a boost for institutional confidence in Solana staking. Source
The cmETH vault on Symbiotic is now live with $150M+ delegated, making it one of the largest restaking vaults. It offers a single Ftoken gateway to EigenLayer, Karak, and Symbiotic, combining diversified exposure with institutional grade operators. Source
Governance and Ecosystem Developments
Morpho announced updates to its Steakhouse USDC and Smokehouse USDC vaults on Base, introducing a 25% performance fee from August 11 and transferring the guardian role to an institutional partner, while offering fee free migration to new Prime and High Yield vaults. Source
Jito Labs proposed JIP-24, which would redirect 100% of Block Engine and BAM fees around $15 million annually to the DAO treasury for buybacks, incentives, and yield boosting strategies. The cmETH vault on Symbiotic went live with over $150 million delegated to its shared security layer, providing diversified restaking exposure across EigenLayer, Karak, and Symbiotic with management by institutional-grade operators. Source
Notable Headlines
Galaxy’s custody arm GK8 has integrated support for Lido’s stETH, enabling compliant institutional custody and minting through its uMPC infrastructure. With nearly 25% of all staked ETH held as stETH, this marks a significant step forward for institutional liquid staking adoption. Source
Ethena’s algorithmic stablecoin USDe surged approximately 75% in market cap over the past month to $9.3 billion, making it the third largest stablecoin by supply. Source
Base surpassed Solana in daily token launches, minting over 39,000 tokens on August 2 64.6% of all new tokens that day driven by SocialFi momentum through Zora and Farcaster. Source
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