"Aave Will Win" Passes, WLFI Threatens Justin Sun, and more...

Apr 13, 2026

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Stablecoins/RWA🪙

Polymarket has launched pUSD, its native collateral token backed 1:1 by USDC, as part of a broader infrastructure upgrade that reduces failed trades, lowers gas costs, and improves order reliability.
Saturn launched on mainnet, offering 11.5%+ APY on sUSDat, a yield-bearing stablecoin backed by STRC, MicroStrategy’s perpetual preferred stock that pays dividends derived from its Bitcoin holdings. Saturn taps into corporate crypto treasury dividends as a yield source, with dynamic reserves shifting between STRC and T-bills to manage risk.
Grove Finance, a protocol focusing on institutional credit, has launched its app, allowing users to deposit USDS or USDC into the Sky Savings Rate through a fully liquid, no-fee savings product.
Axis, a synthetic dollar backed by a market-neutral arbitrage, has minted $10M USDx in private beta. On-chain transparency and a public dashboard coming soon.

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DeFi📈

Aave’s “Aave Will Win” governance passed with 75% support, redirecting 100% of all product revenue, including aave.com swaps, Aave App, Pro, Card, Kit, and Horizon RWAs to the DAO treasury.
- Aave Labs will be funded by a $25M stablecoin grant and 75,000 AAVE tokens (about $7.3M) in exchange for operating exclusively on Aave-related products.
- Additional milestone-based grants of up to $17.5M are tied to specific product launches, with quarterly accountability reports and DAO approval required for renewal.
- Critics raised concerns about centralisation and the $42.5M funding package, which represents roughly 30% of the treasury, while supporters see it as bringing full revenue ownership to the DAO for the first time.
Chaos Labs is stepping down as Aave’s risk manager after three years, citing unsustainable economics and misalignment over V4. Aave Labs clarified it offered a $5M budget increase but rejected Chaos’s additional demands to become the sole risk manager and replace Chainlink oracles, with LlamaRisk stepping in as a replacement.
Lido has launched Fast Swaps, allowing users to instantly unstake stETH into ETH, WETH, USDC, or WBTC without waiting in the withdrawal queue.

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Issues⚠️

World Liberty Fi faced a turbulent week as community warned its large borrows against WLFI collateral on Dolomite could create bad debt
- WLFI later repaid part of its debt, bringing it to: $162M ($152M USD1 + $10.31M USDC) borrow against 4.99–5 b WLFI tokens ( about $400–460 million)
The largest backer, Justin Sun publicly accused the protocol of secretly embedding a wallet blacklist function after his own tokens were frozen in 2025.WLFI dismissed both concerns, defended its Dolomite position, and threatened Sun with legal action.
Polkadot’s bridged DOT token on Ethereum appears to have been exploited today, with reports indicating an attacker gained admin control and minted 1 billion DOT before selling. Around $240K in liquidity pool funds was reportedly drained, with automated bots since replicating the same attack. The root cause is alleged to be a flaw in the bridge’s security verification system.
Seamless Protocol, a lending and leverage token protocol on Base, is winding down after 2.5 years, citing failure to find product-market fit for its leverage tokens and no clear path to sustainable revenue. Users must withdraw all assets before the UI goes offline on June 30, 2026.

Airdrops🪂

Altura, a yield aggregator protocol on HyperEVM, is distributing USDC rewards to AVLT holders via Merkl for the next 72 hours.

Farms 🧑🏻‍🌾

Ethena’s USDe and sUSDe principal tokens (PTs) are now listed on the Aave instance on Plasma, with initial caps of $30M and $150M respectively, offering 3% Implied Yield.
Origin Protocol has launched cross-chain zaps on Beefy Finance, allowing users to deposit ETH, USDC, or 100+ other assets directly into OUSD Curve pool vaults earning up to 15.6% APY.
Aave has launched a MegaETH market allowing users to borrow USDm, MegaETH’s native stablecoin, at near-zero interest rates using BTC.b, WETH, and wstETH as collateral.
Echelon offers 13.94% APR on iUSD supply on Initia, with borrowers currently earning a -31.01% borrow rate, effectively getting paid to borrow.

News🗞️

CME Group launches 24/7 crypto derivatives trading May 29, adding Avalanche and Sui contracts. The expansion brings institutional-grade perpetuals to AVAX and SUI, broadening mainstream crypto derivatives access.

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