The funding rate is wild :o Korea's biggest chipmaker and one of the "Big Three" memory manufacturers is now on Boros You know what's special about this? on July 10 they listed an ADR (American Depository Receipt) on Nasdaq under $SKHY and raised ~$29.65B. One ADR represents one-tenth of SKHYNIX which means there is room to arb this mama And on July 29 the new shares underlying the ADRs get listed on KOSPI, and the two-way conversion opens The SKHYNIX perp on Hyperliquid has been paying funding at ~64% since launch, floating up 78.69% while Boros is at 36.55%, roughly a 40pp of carry to long YU :) and is SKHY comes then we'd get some delicious arbs soon

Re-sharing because this is pretty yuge -> Theo x Fidelity. It's the first time a crypto-native platform has accessed their tokenized fund offering Also in the game as Theo invested $20M into FILQ, Fidelity International's tokenized USD digital liquidity fund, which now sits inside thBILL The RWA sector is pretty much the space to be for DeFi's next stage as we've seen Aave's Horizon, Maker's Sky, Plume, recently OUSD, etc. and now thBILL x FILQ I know where i'm positioned tho, the 6-month core+ i've shared here RWA, Yields, yield trading? Pendle? soon? hehehehehe

The time has come for @Theo_Network's $thUSD to level up the productivity game. Season 2 of its points program has just been announced, bringing a new set of yield primitives alongside upcoming DeFi integrations. What's interesting is that the opportunities span different risk-return profiles, allowing participants to optimise between liquidity <> yield <> points multipliers. TLDR, there are 3 modes: 1. Liquid: hodl $thUSD or $sthUSD w/o lockup. 2. Core(+): Fixed-term vaults w/o externalised utilisation 3. Boost: Fixed-term vaults w/ recursive looping for amplified yield exposure This comes with a total of 3 vaults will be released alongside: 🔸Core Vault (3 months) → Direct access to $thUSD with no external DeFi exposure (6.5% APY) + 2x points multiplier. 🔸Core+ Vault (6 months) → Similar fixed-term exposure as Core, but for a higher return rate (~7.2% APY) + 4x points multiplier. 🔸Boost Vault (6 months) → In-house looping strategy fully automated + managed w/ target of 11% APY + 3x points multiplier. Beyond the native vaults, more external DeFi opportunities are also on the way across protocols such as @Uniswap and, most notably for me, @pendle_fi. What interests me most, however, isn't the points campaign. It's the underlying yield primitive itself. Unlike many crypto-native yield models that rely heavily on emissions, $thUSD is backed by physical gold alongside a delta-neutral gold carry strategy. The significance here lies in its ability to scale. The underlying markets are already among the deepest in global finance, supported by an estimated ~$180B annual gold leasing market and ~$247B of average open interest across gold futures. FYI: Gold futures OI is roughly 39x larger than $BTC and 58x larger than $ETH That depth matters because it provides a structurally larger capacity for sustainable yield generation. Historically, the strategy derives returns from the persistent contango present in gold futures markets, and according to Theo's backtesting, delivered approximately 8.27% APR throughout 2025. From a risk perspective, the setup is equally notable. Assets are held within regulated institutional custody through Standard Chartered and Wellington Management, complemented by Lloyd's insurance coverage and multiple independent security audits. To me, this is the more interesting story. The points campaign is simply an accelerator, where the bigger thesis is the emergence of gold as a productive on-chain financial primitive. As RWA-Fi continues maturing, winners will be the ones that successfully financialise those assets and maximise their productivity through composability, sustainable yield + deep DeFi integrations. That's exactly the direction Theo appears to be heading imo

Best AUSD Yields live right now, i kept the biggest ROE for the end. But first — why AUSD? $AUSD by Agora is backed by short-duration T-bills and overnight repos. Managed by VanEck. Custodied at State Street. Bankruptcy remote. No commercial paper. No MMF exposure. Paradigm just led a $50M raise. This is one of the cleanest dollars in DeFi — now yield-stacked on Monad. --- What is earnAUSD? Built by @upshift_fi, curated by Gamma Research. Deposit AUSD or USDD → receive earnAUSD. Routes yield across Monad lending markets + DEX LPs. Yield auto-compounds. ~15.74% APY natively. Largest stablecoin vault on Monad. --- @pendle_fi (Monad, 103 days): PT-earnAUSD → 11.17% fixed | YT-earnAUSD → 281% Long Yield PT-AUSD → 6.82% fixed | YT-AUSD → 271% Long Yield Agora committed to incentivize YT markets. Both PT and YT profitable. earnAUSD: AUSD: --- Loop PT on @eulerfinance: PT-earnAUSD / AUSD → Max ROE 37.08% at 8.32x PT-AUSD / AUSD → Max ROE 22.32% at 9.99x --- @Curvance: earnAUSD / AUSD → 8.68% | Max ROE 22.94% PT-AUSD-8OCT2026 / AUSD → 7.08% | Max ROE 36.44% @MorphoLabs: Supply earnAUSD (~15.74%), borrow USDC at 6.82% | Max ROE ~96% at 10x 91.5% LTV — room to size up. --- Safe base. Stacked yield. Most people in DeFi pay for their education with bad positions. I found a cheaper way:

1/ Announcing thUSD points: our largest points campaign to date. The primary way to earn points is through new thUSD vaults, which carry the highest native multiplier and can further boost your exposure. Three vaults are live at launch: 1. 3-month Core vault at 6.5% APY + 2x points 2. 6-month Core+ vault at 7.2% APY + 4x points 3. 6-month Boost vault at 11% APY + 2x points, initial cap of $5M Read on for the full breakdown of the thUSD Points Program, including: 1. How to earn points 2. How to track points 3. Our new thUSD Referral Program We'll also provide details on the previous season of Theo points.

. @3janexyz is now topping the fixed implied yield leaderboard on @pendle_fi with: 🔸(New) PT-sUSD3 → ~19.5% APY (~$700k depth expected to grow since it just launched) 🔸PT-USD3 → 12.8% APY (~$6M depth) where both pools have a fairly long maturity ending in mid-Dec 2026. This comes with on-going $JANE liquidity mining program where epoch 4 has just commenced that has a unique scaling mechanism. Markets may be down, but juicyy yields remains here as always🫡

🚀 Check out our latest #USDD# weekly recap! 📌 Pendle sUSDD market adds TRX incentives 📌 Singularry AI integrates PT-sUSDD looping strategy 📌 USDD Zero-Slippage Experience Campaign is live — quiz to earn, swap to get airdrops Which one excites YOU most? 👀 #Stablecoin# #DeFi# #Crypto#

@llama Wow that’s really interesting, if I was a world leading investment firm I’d definitely be accumulating $PENDLE they seem like one of the best R/R right now that reflexively is winding up the spring to rebound upwards

AUSD PT borrow markets are now live on @eulerfinance on @monad → PT-AUSD / AUSD → PT-earnAUSD / AUSD Borrow against your @pendle_fi PT tokens and loop to amplify the yield ↓