Welcome to Yields of the Week! Every week, we spotlight the top DeFi yields across the crypto landscape, focusing on opportunities that are not just the highest APYs but also sustainable risk-adjusted opportunities. Whether you're new to DeFi or a seasoned degen, our goal is to help you navigate the yield farming space with confidence. Let’s dive into this week’s picks!

USDC 30 day benchmark rate on Aave: 4.56% (up from 2.30% last week)

Here’s the top yielding stablecoin vaults (real yields) for the past 30 days:

Checking in on Stablewatch to see the 7-day TVL changes.

This week the top movers were: Superstate (USTB) +20.2%, OpenTrade (XHYC) +15.3%, MainStreet (MSY) + 13.8%:

ETH 30 day benchmark rate on Aave: 2.73%% (up from 1.70% last week)

Here’s the top yielding ETH vaults (real yields) for the past 30 days:

Here’s the top yielding BTC vaults (real yields) for the past 30 days:

As DeFi Dad alludes to with his X post, there’s already more than ~$300M+ of tokenized STRC onchain with Apyx making up $220M of that and Saturn at $104M as I type this. While its not without risks, this category is setting up to be massive onchain.

And another interesting catalyst is just about to launch with tranching.

Both Apyx and Saturn will be launching jr/sr positions on their respective platforms and I think the yields will be very enticing.

Apyx + Royco - Just as I was writing this up, it went live:

Saturn + Strata April 30th:

It will be interesting to watch how the market prices the junior and senior positions here. I actually see a strong case to be made for both and I think that leads to the best types of assets to tranche 👀

I will write 3F up again in the future, but right now they have just opened a private beta. Their first asset is a Janus Henderson Anemoy AAA CLO Fund offered via Centrifuge. Base APY is 5.35%, but with 3F they can apply up to 10x leverage to achieve a Max APY of 24.30%.

They sum things up best in their docs on the problem they are solving:

Another interesting feature is how Bridge Facilitators, the capital providers to the protocol, are sourced.

They run auctions where LPs, market makers, and even other protocols can offer capital. Participants submit bids, and the auction clears at the lowest rates.

It’s still early, but it’s reminiscent of Term Finance. The key difference here is that there will likely always be a consistent rate taker on the other side in 3F itself.

From what I’ve seen, the first auction cleared around 6%–7% for Bridge Facilitators, which is pretty solid.

Sonya Kim the Co-Founder of 3F did a nice writeup on the BF role here.

Just a reminder that Fluid has one of the better stable USDC yields in DeFi with their Lite Vault that’s currently yielding 8.12% APY:

Altura is offering a 19.64% base APY on USDT0 by depositing it into their strategy vault. The total APY offering is 37.6% when accounting for their Altura rewards.

I wrote a bit of a deeper dive on Altura in a previous YOTW if curious about the strategies they run. Also A1 Research put together a good overview as well. It’s not without risk, but hence the higher return. Always do your own due diligence.

They’ve also recently added Hypernative to their risk stack:

This is a cool one between InfiniFi and Euler. Locked InfiniFi positions are now usable as collateral:

Also shoutout to InfiniFi for navigating Stream, Resolv and L0/Kelp situations with no losses incurred to their protocol. Their comms and actions through all of those events were top notch 👏

Noon Capital has quietly built a track record of consistency, transparency, and security through a pretty turbulent DeFi market. They were also early pilot users of Accountable and offer built-in Nexus Mutual coverage across their onchain deployments.

They’ve been running incident-free since around January 2025, while consistently delivering some of the higher returns in DeFi.

Over the last 7 days: ~11.94% APY
Over the last 28 days: ~11.31% APY

All real yield. No emissions:

Their private credit bucket stands out, made up entirely of Fasanara FTAC.

Noon has a full deep dive on it if you want to go deeper, but at a high level it’s highly diversified and relatively liquid compared to most private credit funds:

I haven’t bought any Pendle YTs since Kinetiq as I haven’t seen a lot of opportunities I liked until now, but I like what I’m seeing from the Sierra team.

I recently dipped a small toe into Sierra YTs.

Why? A few reasons:

But first, I may be totally wrong! Also not an investor or affiliated in anyway.

Taking a look at the front page of Stablecoin yields and RWA yields this week on Pendle:

Stablecoins

RWA

This was probably one of the most interesting things I read this week from Rob the founder of InfiniFi:

I was pretty sure I understood what he was talking about, but I pinged him in our telegram group and got him to ELI5 it for me. Here’s what he said;

This isn’t too dissimilar to things protocols like Katana have been doing for many months by incentivizing their borrow side to the point that borrows have been negative in many cases.

Other interesting reads:

That’s all for now, thanks for checking it out!

DISCLAIMER: Nothing written in The Edge Newsletter or said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed in our content are solely the opinion of that writer, host, or guest. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this content.