Farming Alpha: Earn Risk-Adjusted 10% on Stablecoins & 4% on ETH

May 28, 2026

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Today’s News Headlines:

- Saturn activated double Points for Pendle LP/YT
- infiniFi adds liquid access to Apyx yields
- Falcon launches GENIUS Act-compliant fUSD stablecoin
- Frax seeks higher frxUSD Aave caps
- Fantom shutting down, withdrawals due June 30
- SoFi launches national bank-issued stablecoin
- TermMax launches unified multichain lending interface
- Clearstar adds USDC incentives on Euler
- Oku Trade launches XP and lootboxes
- Pendle adds rewards for sUSDD market

This Week’s Farming News:

Wintermute, primarily known as a market maker, has launched Armitage as its first public-facing yield product, offering two USDC vaults on Morpho targeting 4-5% and 5-8% APY with Wintermute handling liquidations and risk in-house.
WOO X, a professional trading platform and exchange known for offering zero-fee trading and deep liquidity for institutional and professional traders, has launched USDT and USDC yield vaults, offering 5-15% APY.
Upshift launches on Solana with its first Solana vault, sJitoSOL, targeting 6% APY on SOL through Kamino, curated by Sentora in partnership with Jito.
Yuzu Money has launched a yzPrime/USDC lending market on Euler Finance on Monad, curated by K3 Capital with MON incentives. yzPrime, backed by AAA-rated CLO senior tranches, tokenized T-bills, and Maple Finance overcollateralized lending, targets 6-7% base yield with 87% max LTV.
Ether.fi’s weETH is now live as collateral in Steakhouse Prime vaults on Morpho Labs across weETH/USDC, weETH/USDT, and weETH/ETH pairs.
Liminal’s limUSD, a yield-bearing token capturing Hyperliquid’s native yield sources, is now live on Pendle, allowing users to lock in fixed APY via PTs or speculate on yield via YTs.
Pendle has listed three new STRC markets by Apyx with November 2026 maturities — apxUSD and apyUSD on Ethereum and apxUSD on Base all for 10%+ APR — with LP and YT holders on June 2026 maturity markets automatically earning Season 2 Pips.
Strata and Saturn’s PT-srUSDat and PT-USDat are now live as collateral on Morpho, allowing users to borrow USDC against Pendle PT positions backed by Saturn’s STRC-dividend yield, curated by Hyperithm.
Strata launched tranched markets for Hastra’s PRIME token, which represents exposure to Figure’s HELOC warehouse lending facility. srPRIME offers protected yield; jrPRIME takes on first-loss risk in exchange for a higher return.
Origin Protocol’s wOUSD - a wrapped, non-rebasing vault token backed by OUSD. is now live on Pendle, with LP incentives beginning tomorrow.
Kraken launched a Bitcoin Vault built on Veda infrastructure with strategy and risk curation by Sentora, allowing BTC holders to earn yield through the Kraken platform.

Earn Up to 11% on USD Stablecoin Farms:

Base Superform USDC Vault - 9% APR (Base · Vault)

Superform aggregator vault on Base routing USDC into Morpho Steakhouse Prime and Gauntlet Prime — two of the most reputable curators in DeFi. You deposit once and Superform handles the allocation. Instant mint and redemption. The headline breaks down as ~2% base lending yield plus 7% in sUP (Superform’s native token), distributed once per month.

⚠️Most of the yield is in sUP tokens — if sUP price falls, real returns shrink significantly. Superform adds a thin aggregator contract layer on top of Morpho smart contract risk. Base network risk applies. The underlying USDC lending allocation is conservative; the risk here is primarily token price exposure on rewards.

reUSD PT · Jun 25 2026 - 10% APR (Ethereum · Fixed yield)

Pendle Principal Token on reUSD — buy at a discount today and redeem at face value on June 25, locking in a fixed 9% APY. reUSD earns the greater of risk-free rate +250 bps or Ethena basis yield +250 bps, and deploys capital off-chain to reinsurance surplus notes for an additional yield floor. The instant redemption on reUSD is a meaningful advantage — most PTs require waiting out an unlock period, making this one of the cleaner fixed-yield positions available.

⚠️reUSD has off-chain exposure to licensed reinsurers — not something you can monitor on-chain in real time. Partial Ethena basis exposure means current peg conditions affect the underlying yield. Pendle smart contract risk applies. At 9% fixed with instant redemption and a Jun 25 maturity, this is one of the more straightforward risk/reward profiles on the list.

Aave GHO Lending - 6% (Mantle · Lending)

Lend GHO — Aave’s own overcollateralized stablecoin — into Aave’s lending market on Mantle. You earn base lending interest plus a 4% GHO reward on top. GHO is minted by locking crypto collateral in Aave, making it one of the more transparent and battle-tested decentralized stables available. Aave on Mantle benefits from the protocol’s deep security track record while offering better incentives than the Ethereum mainnet market.

⚠️GHO is one of the cleaner decentralized stables — overcollateralized, Aave-native, no Ethena exposure. 4% of yield is in GHO rewards, adding mild token supply pressure risk. Mantle is a newer chain than Ethereum mainnet, adding network-level risk. Aave smart contract risk applies, though the protocol is among the most battle-tested in DeFi. One of the lower-risk picks this week.

Ethereum - Euler Earn Vault - 4% (Monad · Lending)

Lend ETH into Euler’s earn vault on Monad. Borrowers post a broad basket of collateral — wstETH, MON, USDC, and AUSD — to borrow your ETH. You earn borrower interest plus a 3% WMON bonus. The broader collateral basket offers more diversification than a single-collateral vault. No lock-up, fully passive position.

⚠️wstETH is battle-tested collateral; MON, USDC, and AUSD add diversification but also more variables to monitor. WMON token price exposure on 3% of yield. Euler smart contract risk and Monad network risk as a newer chain apply. One of the cleaner passive ETH yield positions this week.

Higher Risk/Complex Farms Up To 17% Stablecoin APY & 19% ETH APY

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