Is This The Best DeFi Yield Since Ethena?

Since launching less than 2 years ago, Ethena USDe supply has grown to just under $15B, with it’s flagship sUSDe currently hovering around $6B in market cap. Part of the success behind Ethena is a programmatic trade, automating a trade and distributing the yield to sUSDe holders. This basis trade was always popular among professionals trading onchain and on exchanges but it was never as easy to access in just a few clicks.

The trend to automate advanced strategies and offer DeFi users access through a yield-bearing asset is going to lead to trillions more in capital coming onchain.

Another reason traders and yield farmers love Ethena is that the yield is stable and not propped up by token emissions or short-lived hype. But what if yield could be tied to something more durable? Like real trading strategies with deep liquidity and institutional participation?

That’s where Neutrl steps in. Neutrl is bringing OTC arbitrage strategies onchain, the same types of deals institutional brokers and funds have used for years to manage risk and generate consistent returns. Now, with the launch of sNUSD, these strategies are being packaged into a DeFi-native yield product called sNUSD, targeting returns north of 30% APY.

In a new episode of The Edge Podcast, we cover how Neutrl’s OTC system works across bull, bear, and flat markets, the mechanics of NUSD vs. sNUSD, and why Neutral believes this approach can scale without relying on unsustainable token incentives. We also explore how foundations and large token holders could leverage Neutrl’s trading engine, why risk management is at the core of their model, and what makes this different from the “yield” products that came before it.

Thanks to our sponsors for making it possible to create and share this content!

| CONTINUE BELOW FOR PODCAST LINKS |

UR, the world’s first money app built fully onchain, transforms Mantle Network into a purpose-built vertical platform, The Blockchain for Banking, that enables financial services onchain.

Listen to every episode of The Edge Podcast on Spotify, Apple, Pods, YouTube here!

🔗 Guest Links 🔗

► Neutrl website: neutrl.fi

► Neutrl on X: x.com/neutrl_labs

► Behrin on X: x.com/behrin_n

• Follow @DeFi_Dad on X (Twitter)

• Follow @Nomaticcap on X (Twitter)

• Subscribe to The Edge Podcast via Linktree

• Watch The Edge Podcast on YouTube

• Collect every episode onchain on Pods