Summary
The first full week of January set a strong tone for 2026, with stablecoin yield accelerating across both established and emerging networks. Capital continued flowing into fixed-income and structured yield products, while new deployments on Plasma and Monad highlighted growing demand for institutional-grade stablecoin strategies.
Stablecoins remain the backbone of onchain yield, with USDe, AUSD, and USDS leading a new wave of productive collateral. Fixed-rate products via Pendle, capital-efficient lending on Aave and Fluid, and high-quality vaults from Maple and Morpho are shaping a more mature and competitive yield landscape.
For builders, the opportunity set continues to expand. With lending, fixed-income, and vault strategies now live across Plasma, Monad, Katana, and Ethereum, developers can access a broader, more diversified yield stack through a single integration with Yield.xyz.
Stablecoin Developments
Ethena expanded its fixed-income footprint on Plasma with the addition of Pendle Principal Tokens to Aave. April USDe PT has launched with a $40 million cap, alongside April sUSDe PT with a $100 million cap, unlocking new fixed-yield stablecoin lending strategies for Plasma users.
Upshift’s earnAUSD vault has surpassed $75 million in AUSD deposits, maintaining its position as one of the top protocols on Monad. The vault offers a simple, high-quality stablecoin yield product for Monad-native users and has quickly become one of the network’s core liquidity venues.
Sky Ecosystem crossed a major milestone this week, with total stablecoin supply surpassing $10 billion. Growth continues to be driven by Savings deposits, which now account for nearly $5 billion in TVL and offer a steady 4% APY.
Maple Finance’s stablecoin yield vault on Plasma continues to deliver double-digit yields through DeFi strategies deployed across Fluid and Aave. The msyrupUSDp vault has grown to $29 million in deposits, reflecting strong demand for institutional-grade stablecoin yield.
Protocol Developments
Morpho’s share of DeFi TVL continues to climb, with roughly 5% of all DeFi liquidity now deposited on the protocol. Total TVL has surpassed $6 billion, driven primarily by ETH and stablecoin deposits across its growing vault ecosystem.
Steakhouse USDC vaults are currently yielding up to 6.7%, while Re7 vaults offer yields up to 7%, making Morpho one of the most competitive venues for stablecoin lending. Some of the strongest yields are currently available on Katana, where Morpho has become a core piece of the network’s liquidity stack.
Lido Earn has passed $200 million in total value locked, led by the stRATEGY vault at $118 million and the Golden Goose Vault at $92 million. These products offer streamlined access to low-risk, battle-tested DeFi strategies through a simple vault interface. The rapid growth of Lido Earn reflects rising demand for packaged yield products that abstract away strategy complexity while maintaining strong risk controls and execution quality.
Build With Yield.xyz Today
This week’s developments highlight how quickly yield markets are scaling across fixed-income, lending, and network-native stablecoins. Capital continues to concentrate in high-quality venues, while Plasma, Monad, and Katana are emerging as early hubs for structured, productive yield.
Yield.xyz gives builders a single API to access these opportunities across more than 75 networks. The platform standardizes yield transactions, automates reward compounding, supports cross-chain delivery, and enables dual-sided LP strategies across venues like Curve and PancakeSwap.
Teams building wallets, fintech applications, trading platforms, neobanks, and institutional tooling can ship full-featured yield products faster by building on Yield.xyz.