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: 2.01% (down from 2.12% 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: Maple (syrupUSDT) +33.6%, Main Street (msY) +28.4%, Resupply (sreUSD) +15.1%.

Maple’s syrupUSDT increasing by 33.6% is wild when they have close to $1B in TVL. That is a massive move. Also, in second spot this week is Main Street’s msY which has been in this section I think 5 of the last 6 weeks. They have been growing quickly (and a sponsor of The Edge Podcast)

Nothing conclusive here, just things I like to check in on every week:

ETH 30 day benchmark rate on Aave: 1.98% (down from 2.18% last week)

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

I see a pattern.

Michael Saylor does something, gets ridiculed for it (he’s an easy target), and then months later people start calling him a genius. Then adversity hits and the narrative flips to “he’s going to get liquidated” or “this is going to blow up.” Eventually it becomes “it’s over, Strategy failed.” And then somehow, he pulls another rabbit out of his hat and keeps it going.

I see it a bit differently. It looks more like he’s iterating, constantly adding new tools to his financial playbook. He’s operating in largely uncharted territory, building and refining new financial primitives in real time.

Things could obviously go wrong, but bet against this man at your own peril.

The latest rabbit is Stretch (STRC) and I think it could be come one of the more talked about equities on Wall Street soon.

In July of last year Saylor called STRC “the iphone moment” for Strategy. Bold statement, but honestly its starting too look really damn impressive. I actually think STRC could potentially be a strong enough product to pull us out of a bear market at some point too. Not even kidding.

I wrote an in depth breakdown on it here:

Once you understand STRC. There’s 3 teams I know of that are bringing this onchain:

Saturn - Not live yet, targeting 11% yield

Two token model:

USDat is a non-yielding stablecoin backed 100% by U.S. Treasuries. The yield generated by these Treasuries is not passed to USDat holders.

sUSDat is a yield-bearing token backed by Strategy’s Bitcoin-credit instrument, STRC.

Holders earn a combined ~14.5% yield in the first year, composed of:
- 11.25% from STRC
- 3.25% from Treasury yield transmitted through the USDat reserves (Might change at the discretion of Saturn Labs)

*Both STRC and U.S. Treasury rates are subject to change.

Apyx - Currently live, $54M in TVL and offering 10.8% APY

apxUSD is Apyx’s synthetic dollar backed by a diversified basket of low-volatility, variable-rate, preferred shares issued by industry leading Digital Asset Treasuries (DATs).

apyUSD is the savings token for apxUSD, built using the ERC-4626 vault standard.

Users deposit apxUSD into a permissionless vault and receive apyUSD in return. Token balances do not rebase. Instead, yield accrues through a gradually increasing exchange rate, meaning each apyUSD can be redeemed for more apxUSD over time.

Superstate - Not confirmed, but have heard rumors through the grapevine they are bringing STRC onchain. Also heard that they are trying to partner with Strategy so their tokens will be equivalent to shareholders, but this is unconfirmed 👀

I’ve only recently gotten to know a bit more about D2 Finance. One thing I like about them is they aren’t just theorizers (which I worry I’ll become if I ever stop clicking buttons), but practitioners with real skin in the game. They are in the arena. And they have an incredible track record so far (which I hope continues). They pinged us with this great breakdown of what to do with HYPE on the HyperEVM.

If you have HYPE on HyperEVM and looking to maximize it’s potential, this is a great thread:

DeFi Dad shared a list of ETH yields that he has on his radar. Mentioned in here are - Gearbox, kpk, Mantle, Ether.fi, Fluid, Puffer Finance, Pendle PTs, Frax and Katana:

One I would add to DeFi Dad’s list is Origin’s ETH ARM products. A member of our Inner Edge Telegram put it on my radar:

Very solid ETH yields with decent TVL:

I came across this list of DeFi tools and I thought it was pretty good and worthy of a share:

Another one not mentioned in the list above is Portals. Portals is built by Suhail the former co-founder of Zapper and its a very powerful tool and not only for market research but execution of DeFi — all from one terminal. A good writeup by Edgy:

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

Stablecoins

RWA

This is a good read, the Native Markets team are introducing pmUSDH, which is a tokenized version of portfolio margin.

If I’m understanding this correctly, you can supply USDH on HyperCore and earn yield, while still being able to use pmUSDH throughout DeFi on HyperEVM.

I think there are going to be lots of interesting things built on top of this primitive:

Not to shill D2 Finance lads again, but they understand the play here. Lots of yield composability possibilities at play here it looks like:

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.