Summary
Yield markets remained active this week, with strong momentum around Morpho vaults and Gauntlet-managed strategies. Ethena’s USDe supply passed $1B on Morpho, while Pendle introduced new yield markets for Gauntlet’s USDC Alpha vault. Elsewhere, protocols like Lido, Fluid, and Euler Earn continued scaling quickly, underscoring the demand for curated yield products across DeFi.
New products launched, vaults scaled rapidly, and liquidity continued to migrate into high-performing strategies. From Pendle’s latest markets to Lido’s fast-growing Golden Goose Vault, DeFi protocols are racing to capture deposits with more competitive yields and user-friendly products.
Without further ado, let’s dive into the details.
Yield Updates
- Morpho Vaults:
- Gauntlet USDC Core Morpho Vault: 8.72%
- Gauntlet WETH Prime Morpho Vault: 2.12%
- Re7 USDC Core Morpho Vault: 7.73%
- SingularV ETH Morpho Vault: 2.99%
- Staking APYs:
- P2P Native staked ETH: 3.14%
- stETH Lido staked ETH: 2.63% APY
- SOL Native Multivalidator staking: 6.57%
- Tron Native TRX Staking, 4.28%
- Stablecoin Yields
- Aave V3 USDS Yearn Vault (ysUSDS): 18.55%
- Gauntlet USDC Frontier Morpho Vault (Base): 9.7%
- USDe on Euler (eUSDe-6): 8.72%
- USDT on Euler (eUSDT-9): 6.06%
Stablecoin Developments
Tether announced plans for a new U.S.-based stablecoin, USA₮, designed to comply with U.S. regulation and push adoption further in the American market. The move signals Tether’s intent to cement its presence as policymakers bring stablecoin rules into sharper focus.
Sky Protocol, issuer of DAI and USDS, submitted a bid to issue Hyperliquid’s USDH stablecoin. The proposal outlines a multichain deployment via LayerZero, a starting yield of 4.85% on Hyperliquid, and $25 million in ecosystem funding — a serious attempt to bootstrap liquidity and adoption from day one.
Ethena crossed $1B in supply on Morpho, underscoring the rapid adoption of USDe in yield-bearing strategies. Much of this demand is funneled through Pendle PT-USDe, where fixed-yield buyers continue to lock into Ethena-backed positions.
Protocol Updates
Pendle launched yield markets for Gauntlet USDC Alpha (gtUSDa). Gauntlet USDC Alpha dynamically allocates deposits across Morpho, Pendle, and other protocols, offering optimized stablecoin yield diversification across chains. Depositors gain curated exposure without needing to manage allocations themselves.
Lido’s Golden Goose Vault (GGV) hit $100M in TVL, highlighting strong appetite for its bundled “blue-chip” DeFi strategies. With a reported 10.6% APY, it offers users a one-stop option for high-yield strategies backed by Lido’s liquidity depth and track record.
Fluid saw its Arbitrum vaults surge by 50% in TVL this week following Arbitrum’s Drip campaign. Most inflows went into USDT and USDC vaults, suggesting that stablecoins remain the leading growth driver across Fluid’s product suite.
Euler Earn crossed $90M in deposits in just two weeks. As a fork of MetaMorpho, Euler Earn introduces ERC-4626 “meta-vaults” that allocate deposits across curated yield strategies. With auto-accruing yield and on-chain transparency, it appeals to users seeking set-and-forget exposure with curator oversight.
Build With Yield.xyz Today
That wraps up this week’s review. Yield.xyz continues to expand its reach, making it simple to integrate yield opportunities across 75+ networks. Whether you’re a wallet, fintech, or dapp, we provide the infrastructure to deliver a Web2-quality experience backed by the full depth of DeFi.
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