Today in DeFi

Today in DeFi

Farms

Balancer Pools Pay 11% Stable APY & 6% ETH APY

Selected picks across USD stables and ETH. APYs are current as of today — verify live before entering.

Aug 27, 2026
∙ Paid
Subscribe for free daily news headlines, weekly news recap, on-chain trading outlook, airdrops, and actionable farming opportunities.

Find and execute 15%+ stablecoin yields in minutes

Save time without checking every protocol manually. DeFi Saver’s Discover page surfaces rates across Aave, Morpho, Spark, and more, lets you simulate leverage before committing, and handles the full loop in one click. Stop leaving yield on the table.

<Discover Yields on DeFi Saver> | Today in DeFi is Supported by DeFi Saver


Farming Benchmarks:

Every farm below beats that baseline. When a rate looks too good relative to this range, that gap is usually the incentive/emissions component, not organic yield — check the breakdown in each card.

Earn up to 11% Stables and >5%on ETH:

Balancer – USDT0/USDe LP ~11.00% APR (Monad – V3 Stable LP)

A boosted stable pool pairing USDT0 with USDe (Ethena’s dollar-pegged stablecoin). Composition is 55.81% USDT0 / 44.19% USDe from 6 liquidity providers, wrapped into Aave-yield-bearing tokens. Breakdown of the 11.00% APR: 0.32% swap fees + 2.40% yield-bearing (from waMonUSDT0’s passive Aave lending yield) + 8.28% Merkl incentives. 75% of this yield is incentives, not organic

30d swap volume is $553,401 against $115,781 TVL — real trading activity exists, but it’s a small slice of the total return here.

Risk — Medium ⚠️
Most of this yield is temporary. 8.28 of the 11.00 points comes from a Merkl incentive campaign — if it ends or shrinks, the rate falls to roughly 2.7% (just fees + passive lending yield), a steep drop from the headline number.
Beyond that: USDe still carries some residual Ethena risk, TVL is thin at $115,781 so a large deposit or withdrawal could move the price meaningfully, and Monad is a newer network with less of a track record.
It runs on Balancer V3, which was not affected by the November 2025 V2 exploit.


PancakeSwap – USDT/USDC AMM Pool – 12%% Supply APY (BSC – Concentrated LP)

A standard USDT/USDC AMM pool on PancakeSwap (BSC). Both are centrally issued, fiat-backed stables — individually low-risk. The yield source, however, is 100% trading fees (this pool shows no separate reward token), and the historical APY chart spans from near-0% baseline to sharp spikes above 80% multiple times since 2024, with another spike visible right now pushing the live rate to 31.68%.

Why this matters: USDT/USDC is normally one of the lowest-volatility pairs in DeFi — trading volume and fees should be steady and low. Spikes to 30-80%+ APY on a pair like this typically indicate a temporary depeg or arbitrage event on one side of the pool (often a bridged or wrapped version of USDT/USDC on BSC trading briefly off-peg), driving a burst of arbitrage volume through the pool. That’s not free yield — it’s compensation for taking the other side of a depeg event, and LPs can end up holding the depegged asset if they’re in the pool when it happens.

Risk - Low ⚠️
This pool earns 100% from trading fees, and the APY chart swings from near zero to 30–80%+ in bursts — each spike is almost certainly a bridged USDT or USDC leg on BSC trading off-peg and arb volume routing through the pool.
That fee is compensation for holding the mispriced asset while everyone else is dumping it on you. Enter mid-spike and you either catch a few hours of elevated fees before the rate collapses, or you end up on the wrong side of the depeg and eat impermanent loss on a “stable” pair.
The 30-day stability rating is Mixed for exactly this reason.
TVL is thin ($201K), and BSC network and bridge risk applies to whichever stable is driving the volatility. Audited does not mean safe against this pattern — size it as an arb-exposure trade, not a parking spot.

Balancer – rETH/WETH LP – rETH + WETH –6.21% APR(Base – V3 ETH LST LP)

rETH (Rocket Pool’s liquid staking token, backed by a proportional claim on staked ETH across Rocket Pool’s validators, with node-operator ETH + RPL bonds absorbing slashing penalties first) paired with WETH on Base. Breakdown: 0.03% swap fees + 2.20% yield-bearing (waBasWETH 1.13% + rETH 1.08%) + 3.98% Merkl incentives, totaling 6.21%. Runs on Balancer V3.

This is the Base deployment of the WETH/rETH - same underlying assets, different network. TVL is smaller here ($342K) than on the mainnet, with modest but real organic swap volume ($642/24h).

Risk — Lower
Both legs are ETH, so impermanent loss is negligible, and Rocket Pool’s dual-layer slashing protection (node operator bonds plus RPL) is a real structural strength.
What you’re actually exposed to is the incentive: 3.98% of the 6.21% comes from Merkl, and Merkl figures on some Balancer pools have been double-counted recently — this pool hasn’t been individually confirmed either way, so verify the live figure on Merkl before assuming the full rate.
Organic swap fees are negligible ($642/24h), so if incentives lapse you’re left with roughly the underlying rETH/waBasWETH yield of ~2.2%.
TVL is small ($342K) and this is the Base deployment, so Base network risk sits on top of standard Balancer V3 and Rocket Pool contract risk.

This Week’s Farming News:

  • Pendle announces a new allocation for its USDC @Morpho vault, offering 8.42% APY for supplying USDC and 35% APY for looping PT-sUSDe.

  • Saturn announces $32K in YT incentives for the Pendle market on Ethereum, running from August 27 to September 27.

  • Ondo Perpetuals extends its USDC rewards program by 6 weeks, now featuring a $175K rewards pool.

  • Reflect opened its first tranched market for pre-deposits, using syrupUSDC as the underlying yield asset — caps set at $250K for senior and $50K for junior tranches.

  • YieldBasis proposed raising deposit caps on its WBTC and cbBTC markets to $50M each, reallocating ~$49M in crvUSD from the Factory reserve — currently passing with 9.45M votes in favor and zero opposition.


Today’s News Headlines:

- AQAv2 live: HYPE buybacks funded by USDC yield
- PancakeSwap x TermMax launch $70K CAKE staking event
- Aerodrome adds MAG7 stock exposure on Base
- Portals x Superform launch superNVDA tokenized stock campaign
- Superposition deprecating USDC — cutoff August 28
- Tydro v2 launches fixed-rate borrowing on Ink
- Reflect opens first tranched pre-deposit market
- Lighter cuts proof times 10x, faster withdrawals
- Arcus launches tokenized leveraged perp positions (pTokens)


Curated Yields, Airdrop Opportunities, TVL Tracking Across Different Protocols + Full Archive of Past Letters

Start your 7-Day Free Trial to unlock it all:

Loop Yield-Bearing Stablecoin for up to 30% APR

Keep reading with a 7-day free trial

Subscribe to Today in DeFi to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2026 𝕯𝖆𝖓𝖌𝖊𝖗 · Privacy ∙ Terms ∙ Collection notice
Start your SubstackGet the app
Substack is the home for great culture