Weekly News: YieldBasis Launching V3, MegaETH Ending Terminal, and many more...

May 25, 2026

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DeFi📈

Yield Basis is preparing to launch v3 pools following Curve’s underlying pool upgrade, requiring all BTC and WETH LPs to manually migrate via a dedicated migration UI at yieldbasis.com. Migrated LPs will share the remaining 5.65M YB Season 2 allocation across four tranches over 12 months.
Loopscale has launched Loopscale Earn, curated vaults combining fixed-yield lending, looping, market making, perps, and RWAs into a single managed position on Solana. The first vault launches soon with Exponent Finance v2, offering optimized exposure to OnRe’s ONyc reinsurance yield token.
Core Foundation and Maple Finance have settled their eight-month legal dispute, in which Core alleged Maple breached a 24-month exclusivity agreement by developing competing Bitcoin yield product syrupBTC while still using Core’s confidential information. Settlement terms are confidential, with Maple now free to launch syrupBTC.
Flex, a fixed-rate money market inspired by Liquity V2, has launched with an immutable and isolated yvUSD/USDC market. Borrowers choose their own fixed rate, with lower-rate positions redeemed first when liquidity is needed rather than rates spiking, enabling 100% utilization while guaranteeing lender liquidity.
Tempo, the Stripe and Paradigm-backed stablecoin payments chain, has integrated Morpho's lending marketplace, allowing fintechs and enterprises building on Tempo to lend, borrow, and earn yield on idle stablecoin balances without leaving the ecosystem.
Bitwise has announced it will devote 10% of the BHYP management fee to holding HYPE on its balance sheet for a minimum of 12 months.
HyperLend has launched Aviya, a compliance-gated credit venue on Hyperliquid offering fixed-rate bilateral financing initially against HYPE collateral.
Maple has launched the Borrower Hub, an institutional borrowing interface featuring multi-entity loan management, live health metrics, and email authentication for non-DeFi-native treasury teams. The existing dashboard remains available until June 30.
Ethena is deprecating USDe and sUSDe bridging on ten chains including Initia, Kava, Manta, Scroll, zkSync, and others as part of a periodic review to consolidate security resources on higher-activity routes.
Uniswap launches on Solana, with the UNI token gone live on Solana via SunriseDeFi and Wormhole NTT, following Uniswap’s earlier web app integration of Solana swaps powered by the Jupiter API.
Aave deployment proposal submitted for Monad.
Tangent, a yield bearing stablecoin protocol, is launching tomorrow, May 25, with a pre-deposit campaign open until then for users to secure a TAN airdrop allocation.

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Issues⚠️

Polymarket has confirmed a private key compromise of an internal operations wallet, with over $660K drained from a rewards payout contract. User funds and market resolution are unaffected, with the team rotating keys and investigating any other compromised internal secrets. This is a developing story.
Echo Protocol on Monad was exploited after an attacker minted 1,000 eBTC (~$76.6M) and deposited 45 eBTC into Curvance as collateral, borrowing 11.3 WBTC (~$867K), bridging to Ethereum, and laundering 384 ETH (~$821K) through Tornado Cash. The attacker still holds 955 eBTC (~$73.2M). This is a developing story.
Curvance has paused the Echo eBTC market following an anomaly detection, clarifying that its smart contracts were not compromised and no other markets are affected due to its isolated market architecture. This is a developing story.
Fractal Protocol lost approximately $13,700 after an attacker used an Aave flash loan and recursive Balancer callbacks to exploit a deposit/withdraw accounting flaw in the vault’s fixed token price model, minting and burning USDF repeatedly to extract USDC.e.
THORChain confirmed a $10.7M exploit caused by a GG20 threshold signature vulnerability that allowed a malicious node operator to reconstruct a full private key through progressive key material leakage, draining one vault before automatic solvency checks halted trading within minutes.

Stablecoins/RWA🪙

Saturn has launched on BNB Chain, bringing USDat and sUSDat to the ecosystem with integrations across leading DeFi protocols. BNB Chain activities will receive a 100% Gravity Points boost on May 25.

Perps DEX📉📈

Rhea Finance, a multi-chain DEX and lending protocol, is launching a perpetuals on NEAR, supporting both EVM and non-EVM wallets.

Airdrops🪂

MegaETH has concluded its Terminal points program early, with a snapshot taken of all activity to date for final reward calculations. Eligible participants will receive a share of the rewards pool in USDM, with a wallet designation window opening early next week.

Raises💰

Variational, an Arbitrum-based perps, raised $50M in a Series A led by Dragonfly Capital and launched Phase 1 RWA markets including gold and crude oil perpetuals.
Jia, a financial platform for small businesses in Southeast Asia, has raised $3M led by Coinbase Ventures with participation from Stellar Development Foundation and A100x, bringing total raised to $7.3M. The startup uses AI-driven credit scoring to replace predatory local lenders with institutional capital for underbanked businesses.
TownSquare, a yield platform bringing USD1 and RWA-backed returns to retail users on Monad, has raised $16.25M in a Pre-A round backed by World Liberty Fi, OKX Ventures, Animoca Ventures, Amber Group, and others.

News🗞️

Polymarket has partnered with Nasdaq Private Market, giving retail traders access to prediction markets on private company valuations — an asset class historically restricted to institutional investors.
Trump has signed two executive orders targeting fintech and digital assets: the first directs federal regulators to streamline rules and integrate crypto companies into traditional payment infrastructure, while the second tasks the Federal Reserve with reviewing master account access for non-bank fintech firms and the Treasury with updating anti-fraud and customer identification rules under the Bank Secrecy Act.
The SEC is set to release an “innovation exemption” allowing tokenized securities to be traded on decentralized crypto platforms, in what Bloomberg describes as a surprise move that could reshape the American stock market and mark one of the US’s largest shifts into crypto infrastructure.
Strategy has acquired 24,869 BTC for approximately $2.01 billion at ~$80,985 per coin, bringing total holdings to 843,738 BTC at an average of ~$75,700 per bitcoin (~$63.87B total). BTC Yield stands at 12.6% YTD 2026.

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