A few incredible new stablecoin strategies came online recently, so...

Mini-thread🧵👇 1) @Dolomite_io HAS E-MODE

This is a bigger deal than you can probably imagine, given that they also have $400M of sticky BOYCO liquidity.

There are a few opportunities here worth noting.

A. @reservoir_xyz srUSD/HONEY
7% Collateral Yield
2.55% Borrow Cost
10x Leverage = 47% + Points on Notional

B. @ethena_labs sUSDe/USDC
6.22% Collateral Yield
2.55% Borrow Cost
10x Leverage = 40% + Sats on Notional

Reservoir uses NAV oracles AFAIK

I'm personally farming this.

You've made your choice, time for me to deliver

🚨BEST BTC YIELDS/OPPORTUNITIES ISSUE #2🚨

As always, bookmark this so you don't lose it 1) @build_on_bob🤝@eulerfinance

TL;DR
⇒ 34-67% APR Organic (+Points)
⇒ >100% APR w/ Incentives

BOB is a BTC-centric EVM superchain. More importantly, they're running an incentives campaign.

You can find most of the incentives on @merkl_xyz.

Anywho, RIGHT NOW you can loop BTC derivates for over 100% APR.

BUT THERE ARE A FEW IMPORTANT POINTS TO MAKE:

1) Slippage matters. I do NOT recommend auto-leveraging through illiquid markets. You can get rekt.

2) Some of the incentives are in rEUL which has a vesting mechanism.

3) Unwinding can also wreck you if you do it automatically, I recommend manually doing it.

FINALLY, the LBTC markets, with over $12,000,000 BTC to borrow are 34% APR and 67% APR respectively.

PLUS POINTS. These are the best @Lombard_Finance opportunities out there, hands down.

🚨BEST STABLECOIN YIELDS, ISSUE #2🚨

BOOKMARK THIS THREAD

I'll be doing just my Top 10, since believe it or not, stablecoin yields are boomin' and I can't write forever. This week we've seen a continuation of what I formerly called catastrophic price action.

But, thank God, humans experience this little thing called "the hedonic treadmill" where we emotionally normalize to whatever highs or lows we're pushed to so that no matter where we end up, after the initial shock, we re-regulate.

Nevertheless, the yields👇

Best $SOL Yields, Issue #1

Believe it or not, @solana is DeFi. Like many KOLs, I spend most of my days in meetings, in the telegram trenches, on Discord, and in Twitter DMs scraping for alpha, getting updates, asking questions about protocols, and trying to get a sense of the direction of all this stuff.

And there's a growing sentiment that Solana will become a serious competitor for institutional capital in the not-too-distant future.

I'm hopeful. I also think it has a good shot at cornering a lot of the RWA market, to my own surprise.

ANYWHO, let's dive into the yields👇

BEST BITCOIN YIELDS, ISSUE #1 Historically, $BTC has been hard to get yields on.

Restaking and Vaults, however, have unlocked BTCfi for us this cycle so now we can expect ~5% APR or more if we're clever.

And, imo, this is just the beginning.

Let's dive in👇

Time to formalize these threads to be referenceable as periodicals.

BEST STABELCOIN YIELDS, ISSUE #1

March 4th, 2025 The Good News: There are quite a few new contenders.

The Bad News: The markets are catastrophically bad.

The Neutral News: Vaults are the current thing and seemingly here-to-stay, with most of the yield-related conversations at Denver circling back to vault infrastructure.

HEAR ME OUT

@pendle_fi (we love Pendle) is valuing the airdrop yield of Sonic points at around 18.5% for wstkscUSD.

► 12x @SonicLabs points
► 3x @veda_labs
► 2x @Rings_Protocol points (more Sonic points)

That implies a near 300% APR for some stable loops.

Let's look👇 I mentioned @eulerfinance earlier.

They have scUSD collateral with all of the above points PLUS $rEUL, $wS, and Lending yield.

So...
► 2.33% Lending Yield
► 18% Implied Points Yield
► 5.91% rEUL Yield
► 3.37% wS Yield
➢ TOTAL: 29.61% before leverage

NOW, the points yield won't be realized until June and the rEUL has a vesting mechanism.

But let's look at a few variations of the math...

Does @solana seriously have real restaking APR before @ethereum?

@RenzoProtocol's $ezSOL is getting +3.65% in RESTAKING APR from @jito_sol TipRouter rewards.

This means the ezSOL<>jitoSOL loop on @KaminoFinance is getting over 55% APY.

Here's the math 🧵👇 FIRST, Collateral Yields
► 8.53% Staking APR
► 3.5% TipRouter NCN APR
(NCN = Solana's version of AVS)
► 1.26% REZ Emissions APR on Kamino
TOTAL: 13.29%

Once again, I've been summoned out of the depths of the yield trenches to share our most valuable secrets.

👑The Definitive Greatest Current ETH Yields👑

a thread🧵 First, let's look at non-leveraged options that can handle $13.5M (5,000 ETH).

Surprisingly, there are a few options👇

I've been called to arms.

Here, friends, are the best stablecoin yield opportunities in all of DeFi🧵👇

🚨BOOKMARK THIS THREAD🚨 The hurdle rate for stablecoin yield farmers working with 7 figures or below should be 20% APR.

Anything below that and you're leaving money on the table.

So, I will not include anything that I don't think has SOME level of scalability nor anything under my 20% hurdle.

Alright FINE.

Here's how I'm getting 207% on my $JLP without leverage or impermanent loss.

🧵👇 Short answer:
LPing on @RateX_Dex

Long answer:
Using concentrated liquidity on Rate-X between two IYs (implied yield rates) that I believe the IY will bounce between during the duration of this market.

Range: 25% to 35%.

As of now, @reservoir_xyz has the third largest pre-deposit (not pre-pre-deposit) Boyco position on @berachain.

It's currently getting some pretty wild points:
► 2.69x Boyco multiplier
► 3x Reservoir multiplier
► Share of @KodiakFi incentives

My estimation: 50%–300% APR👇 Firstly, to participate, YOU MUST DEPOSIT BEFORE FEB 3RD.



This LP is getting a 2.69x multiplier because it's counted as a Bucket One Stableswap LPboyco.berachain.com/market/1/0/0xc…

Hearing Boyco will launch within the next 42 hours.

If that's true, buying YTs now and flipping for PTs after the launch could be a genius play.

Here's my thesis🧵👇 TL;DR

Boyco YT are undervalued because of the opportunity cost of holding them without earning points.

Once berachain deposits are live and Boyco pre-deposit vaults are earning points, this discount will close, sending YTs up in value and presenting a great entry to PTs.

I finally leveraged up some JLP on Kamino

I even bought some JLP YT perps on RateX, expecting a 420% ROI by expiry.

Here's my brief rationale🧵👇 JLP is my favorite Solana asset, that's no secret. I've said it many times.

It has muted volatility while benefiting from both volatility and volume, things Solana excels at.

It also has ~67% long exposure, despite its muted delta; so you also have substantial market upside.

Sonic will airdrop 200M S to users.

That's currently $120M.

🚨This'll likely be distributed over just one year🚨

Let's do some speculation mathing/maxxing 🧶👇 @SonicLabs currently has ~$202M in TVL.

Almost all of that TVL is in @beets_fi, @SiloFinance,@wagmicom, and @avalonfinance_.

THIS MEANS, the incentives package is currently equal to 60% of the total qualifying capital onchain.

I spend so much time looking for yields that I dream in annualized percentages.

👏BOOKMARK👏THIS👏THREAD👏

Top MUST SEE Yields For Bluechips 🧵👇 1) @berachain goes wild on @pendle_fi

Berachain pre-deposit BOYCO vaults have made their way to Pendle and are leading the fixed-rate / fixed date return pack:

► Stables: 28%
► ETH: 16%
► BTC: 14%

And SOON some of these should come to @eulerfinance, @MorphoLabs, or even @zerolendxyz

The Best BTC Yields Megathread

IT'S FINALLY TIME🧵👇 1) @pendle_fi 🤝 @ether_fi 🤝 @berachain

It's always Pendle
Need points? Pendle.
Want predictable risk off returns? Pendle
Want to LP for yield and points without delta? Pendle

PT APR: 20% FIXED
LP APR: 20% Variable (PLUS POINTS)
YT APR: IMO undervalued, but not a BTC yield

Nothing new under the sun.

LPs and YTs also get...
► 1x Boyco Points
► 3x Kodiak Points
► 1x Dolo Points
► 1x Goldilocks Points
► 2x Lombard Points
► 1x Babylon Points
► 4x EtherFi Points
► 3x Veda Points

AND...AND...I think there's a chance we see leverageable PTs in the not-too-distant future. But who knows, a man can dream.

Best ETH Yields: 2025 Edition

To be competitive, the yield must currently or consistently be >20% APR and also scale with size.

Let's dive in🧵👇 1. The OG: $wstETH Loop

This is arguably the most historically popular competitive and scalable ETH yield.

It typically ranges from 8% to 30% APR even in the depths of the bear market.

It works by leveraging the staking yield of ETH (~3%) against the cost to borrow ETH (~2%).

Three of the best places to do this:
1) @MorphoLabs
2) @aave
3) @growcompound
4) @eulerfinance

The current sizeable APRs for this strategy range from 26% to 46% (assuming you fully vest $rEUL rewards).

And, of course, you can auto-leverage these positions with @Contango_xyz to generate TANGO points, OP emissions, etc.

🚨Tomorrow, @protocol_fx V2 launches🚨

This will allow you to leverage your ETH, BTC, and other bluechips without funding rates or interest rates.

Here's an ELI5 breakdown of how it works🧵👇 Here's what happens when a user opens a leveraged position.

Let's use a 2x ETH position as example:

1) The additional ETH required is borrowed using a flashloan.

2) At the same time, the value of the borrowed ETH is minted as fxUSD

3) Your principal mints your xPOSITION

I checked out the @ResolvLabs market on @eulerfinance because of the high (57% organic) lending APR on USDC.

Usually, a high lending APR is because either there are incentives flowing, or it's thin and totally utilized liquidity.

Here, it's neither. The liquidity is surprisingly deep (>$10M).

But it is nearly fully utilized (97.05%).

Which made me question ...why?

Weekly @ethena_labs APR Update

TL;DR
☙ 21.2% APR ❧
► Brought in >20M USDe
► 3.2M transferred to Reserve Fund
► 17.88M transferred to Staking Yield Distributor
► 85.44% APR leveraged on @MorphoLabs
► Use @Contango_xyz to auto-leverage The Reserve Fund

This distribution period, 3,191,713 USDe was transferred into the Reserve Fund.

This is the first time in 133 days Ethena has transferred money into the reserve fund.

The reserve fund "acts as an additional margin of safety behind USDe to provide a source of capital to pay for periods of negative funding"

It's mostly comprised of $BUIDL and Uni V3 positions.

Read More:
docs.ethena.fi/solution-desig…

DeBank:
debank.com/profile/0x2b5a…