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.

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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.

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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.

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RWA Loop on Solana for >12% ROE