Saturn launches STRC Backed Stablecoin with 11% yield, and more...
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Stablecoins/RWA🪙
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.
Tydro has integrated xStocks trading via CoW Swap, with borrowing and lending against xStocks positions coming in Phase 2.
DeFi📈
Aave Labs responded to Chaos Labs' departure, confirming LlamaRisk will take over as sole risk manager with an increased budget, while dismissing Chaos's claims of misalignment, noting it rejected proposals to make Chaos the sole risk manager and replace Chainlink oracles with Chaos-built alternatives.
Lido has launched Fast Swaps, allowing users to instantly unstake stETH into ETH, WETH, USDC, or WBTC without waiting in the withdrawal queue.
BasedOneX has completed its first treasury buyback, purchasing 10.4M BASED tokens representing approximately 4% of the circulating supply.
Hyperbeat has launched Liquid Banking on Hyperliquid, a self-custodial account combining saving, spending, trading, and fiat on/off-ramp — including a Visa card and crypto-backed credit powered by Morpho.
Kinetiq has launched kHYPE v2, introducing validator selection for stakers and a new fee model that directs 70% of staking rewards to KNTQ buybacks for sKNTQ stakers.
Find and execute the 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
Issues⚠️
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.
The community is raising concerns that World Liberty Fi is depositing $484M in WLFI tokens on Dolomite to borrow USDC, warning that illiquid collateral could create bad debt if the position approaches liquidation.
Users with stablecoin deposits in WLFI-collateral pools on Dolomite are being advised to withdraw as a precaution.
Airdrops🪂
Felix, a HyperEVM native lending protocol, is marking its one-year anniversary with a final points distribution on April 10
Ethena’s USDe is now earning automatic rewards for holders on BitGo, one of the largest crypto custodians with over $100B in assets under custody.
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.
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.
For sponsorships, questions, or news tips, reach us at: support@todayindefi.com
RWA Loop on Solana for >12% ROE
Subscribe for daily free DeFi news covering launches, tradable catalysts, and actionable farming opportunities.
Stablecoins/RWA🪙
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.
Tydro has integrated xStocks trading via CoW Swap, with borrowing and lending against xStocks positions coming in Phase 2.
DeFi📈
Aave Labs responded to Chaos Labs' departure, confirming LlamaRisk will take over as sole risk manager with an increased budget, while dismissing Chaos's claims of misalignment, noting it rejected proposals to make Chaos the sole risk manager and replace Chainlink oracles with Chaos-built alternatives.
Lido has launched Fast Swaps, allowing users to instantly unstake stETH into ETH, WETH, USDC, or WBTC without waiting in the withdrawal queue.
BasedOneX has completed its first treasury buyback, purchasing 10.4M BASED tokens representing approximately 4% of the circulating supply.
Hyperbeat has launched Liquid Banking on Hyperliquid, a self-custodial account combining saving, spending, trading, and fiat on/off-ramp — including a Visa card and crypto-backed credit powered by Morpho.
Kinetiq has launched kHYPE v2, introducing validator selection for stakers and a new fee model that directs 70% of staking rewards to KNTQ buybacks for sKNTQ stakers.
Find and execute the 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
Issues⚠️
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.
The community is raising concerns that World Liberty Fi is depositing $484M in WLFI tokens on Dolomite to borrow USDC, warning that illiquid collateral could create bad debt if the position approaches liquidation.
Users with stablecoin deposits in WLFI-collateral pools on Dolomite are being advised to withdraw as a precaution.
Airdrops🪂
Felix, a HyperEVM native lending protocol, is marking its one-year anniversary with a final points distribution on April 10
Ethena’s USDe is now earning automatic rewards for holders on BitGo, one of the largest crypto custodians with over $100B in assets under custody.
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.
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.
For sponsorships, questions, or news tips, reach us at: support@todayindefi.com
RWA Loop on Solana for >12% ROE
Leverage Loop Onre’s ONyc on Kamino
The ONyc/USDC Multiply vault on Kamino Finance executes an automated leverage strategy that currently indicates a maximum APY of 15.74%. Rather than relying on standard crypto lending markets for base yield, this strategy utilizes ONyc—a Real World Asset token backed by a mix of reinsurance premiums and liquid reserve assets—as collateral to borrow USDC. By repeatedly borrowing and swapping, the vault amplifies the yield difference between the ONyc asset and the USDC borrowing rate.
Understanding the Collateral: ONyc
ONyc (Onchain Yield Coin) is an RWA token issued by OnRe that serves as the underlying collateral for this strategy.
The Hybrid Backing: The ONyc fund operates with a bifurcated model. A portion of the capital is actively deployed into regulated reinsurance contracts (such as property or catastrophe coverage) to capture premium yields. The remainder (approximately 45% based on current metrics) is held in a diversified liquidity buffer consisting of Short-Term US T-Bills, fiat USD, and various yield-bearing DeFi stablecoins.
Independent Attestation: To verify the separation and management of these assets, the fund utilizes Apex Group Ltd. as an independent attestation provider. Apex conducts monthly third-party verifications to confirm the accuracy of ONyc’s reported Net Asset Value (NAV), reconcile on-chain stablecoins with off-chain treasury balances, and validate the portfolio positions relative to the active reinsurance underwriting.
Minting & Redemption: Everyone can mint ONyc instantly with no fee, but only KYC users can redeem ONyc directly through the OnRe platform with 25bps of fee. Standard DeFi users typically acquire or exit ONyc positions by swapping USDC on decentralized exchanges or liquidity aggregators like Jupiter.
Vault Mechanics: How the Multiply Strategy Works
Kamino’s “Multiply” feature automates a looping strategy into a single transaction. The underlying smart contract executes the following steps:
Supply: The user deposits ONyc into the protocol as collateral.
Borrow: The protocol borrows USDC flashloan against the supplied ONyc.
Swap: The protocol swaps the borrowed USDC for additional ONyc.
Repay: The protocol borrows USDC against the ONyc and repays the flashloan.
The Yield Spread
The strategy generates a return based on a positive yield spread. It remains profitable as long as the base yield generated by holding ONyc is higher than the interest rate required to borrow USDC on Kamino. Applying leverage (up to 2.5x) multiplies this net difference, which results in the displayed 15.74% APY.
Key Vault Metrics
Liquidity Available: $2.30M USDC.
Max Leverage: 2.5x.
Max LTV (Loan-to-Value): 60.0% (The maximum initial debt ratio allowed).
Liquidation LTV: 70.0% (The threshold at which the position is subject to forced liquidation).
Average Leverage Taken: 1.99x (The average multiplier currently utilized by depositors in this vault).
Step-by-Step Execution Guide
To enter the ONyc/USDC loop on Kamino Finance:
Link to the Kamino page:
Acquire ONyc: Use a decentralized exchange or aggregator (like Jupiter) to swap USDC for ONyc.
Locate the Vault: Navigate to Kamino, select the Multiply section, and choose the ONyc/USDC (OnRe Market) vault.
Deposit Collateral: Input the amount of ONyc you intend to supply.
Configure Leverage: Adjust the slider to set your desired leverage multiplier (between 1x and 2.5x). Note that lower leverage increases the buffer between your entry price and your liquidation price.
Execute: Review the projected APY, Loan-to-Value ratio, and liquidation parameters. Confirm the transaction in your wallet to initiate the automated loop.
Withdrawal: To exit the position, use the protocol’s unwind/withdraw function. The smart contract will automatically sell enough collateral to repay the USDC debt and return the remaining ONyc to your wallet.
Risk Considerations
Leveraged DeFi strategies carry inherent risks that must be factored into execution:
Liquidation Risk (Price Depeg): If the price of ONyc falls relative to USDC on secondary markets, the value of your collateral decreases. If your position reaches the 70.0% Liquidation LTV threshold, the protocol will automatically sell your ONyc at a discount to repay the lenders, resulting in capital loss.
Interest Rate Volatility: The cost to borrow USDC fluctuates based on market utilization. If the USDC borrow rate spikes and exceeds the ONyc yield, the strategy will carry a negative spread and slowly deplete your principal.
Underlying Asset Risk: Because the active underwriting portion of ONyc is tied to reinsurance, extreme or unprecedented real-world catastrophic events could theoretically impact OnRe’s portfolio performance and the token’s NAV.
Smart Contract Dependency: This strategy relies entirely on the proper execution and security of multiple smart contracts, including Kamino’s lending/borrowing logic and OnRe’s token contracts.
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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned.