I recently listened to @TychoOnnasch, @reubs_btc, @Taylor_stxBTC, and @theadvisorbtc speak at the Stacks DeFi Show. There was an interesting point on what most BTCFi protocols still get wrong. Most BTC yield products force the same tradeoffs of giving up self-custody, earning rewards in alt tokens, or losing the ability to move the position without bridging. There was the term "programmable yields" as a fix to this, and that Stacks is the only ecosystem that offers this ability. It's essentially the only chain where stacking the native gas token generates a real BTC dividend you can then route through DeFi. And with @ZestProtocol being the biggest lending protocol on Stacks, they're pretty well positioned to capture lots of liquid Bitcoin flows coming to Stacks. "Users can just deposit BTC and capture the yield in one go" - @TychoOnnasch When you look at the bigger picture, it's kinda clear $ZEST has been performing the way it was since TGE. Disclosure: I'm holding some $ZEST.

Name & Symbol: Zest Protocol ($ZEST)
Address: 0x5506599c722389a60580b5213ea1da60d64754a1

These stablecoin pools grew fastest last week. 7D Yield source and APY + TVL for each below ↓ @liminalmoney | xHYPE +37.1% TVL Delta-neutral funding yield on Hyperliquid. 3.86% APY @avantprotocol | savUSD +16.9% TVL On-chain delta-neutral strategies. 8.67% APY @InverseFinance | sDOLA +15.0% TVL DOLA Savings Rate from FiRM lending revenue. 8.88% APY @UnitasLabs | sUSDu +14.1% TVL JLP delta-neutral, Jupiter perp funding + fees. 27.71% APY @SierraIsMoney | SIERRA +8.9% TVL RWA + DeFi lending mix, powered by OpenTrade. 3.42% APY @opentrade_io | xSOLY +8.4% TVL RWA-backed, tokenized T-bills. 2.01% APY @infinifilabs | siUSD +8.4% TVL Yield-tranching across Aave/Morpho, Pendle, Ethena. 8.20% APY @opentrade_io | xSLP +6.9% TVL RWA-backed yield. 7.32% APY @YuzuMoneyX | yzPP +6.4% TVL First-loss tranche = higher risk, higher yield. 27.34% APY @ResolvLabs | RLP +5.9% TVL Insurance buffer behind USR. No direct yield. 0.00% APY @aegis_im | YUSD +5.3% TVL BTC perp funding rate, delta-neutral. 0.45% APY Most of these earn yield without directional exposure. You're earning without betting on price, which means the yield holds whether the market goes up or down. Where did you park your money lately?

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

These stablecoin pools grew fastest last week. 7D Yield source and APY + TVL for each below ↓ @liminalmoney | xHYPE +37.1% TVL Delta-neutral funding yield on Hyperliquid. 3.86% APY @avantprotocol | savUSD +16.9% TVL On-chain delta-neutral strategies. 8.67% APY @InverseFinance | sDOLA +15.0% TVL DOLA Savings Rate from FiRM lending revenue. 8.88% APY @UnitasLabs | sUSDu +14.1% TVL JLP delta-neutral, Jupiter perp funding + fees. 27.71% APY @SierraIsMoney | SIERRA +8.9% TVL RWA + DeFi lending mix, powered by OpenTrade. 3.42% APY @opentrade_io | xSOLY +8.4% TVL RWA-backed, tokenized T-bills. 2.01% APY @infinifilabs | siUSD +8.4% TVL Yield-tranching across Aave/Morpho, Pendle, Ethena. 8.20% APY @opentrade_io | xSLP +6.9% TVL RWA-backed yield. 7.32% APY @YuzuMoneyX | yzPP +6.4% TVL First-loss tranche = higher risk, higher yield. 27.34% APY @ResolvLabs | RLP +5.9% TVL Insurance buffer behind USR. No direct yield. 0.00% APY @aegis_im | YUSD +5.3% TVL BTC perp funding rate, delta-neutral. 0.45% APY Most of these earn yield without directional exposure. You're earning without betting on price, which means the yield holds whether the market goes up or down. Where did you park your money lately?

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

I recently listened to @TychoOnnasch, @reubs_btc, @Taylor_stxBTC, and @theadvisorbtc speak at the Stacks DeFi Show. There was an interesting point on what most BTCFi protocols still get wrong. Most BTC yield products force the same tradeoffs of giving up self-custody, earning rewards in alt tokens, or losing the ability to move the position without bridging. There was the term "programmable yields" as a fix to this, and that Stacks is the only ecosystem that offers this ability. It's essentially the only chain where stacking the native gas token generates a real BTC dividend you can then route through DeFi. And with @ZestProtocol being the biggest lending protocol on Stacks, they're pretty well positioned to capture lots of liquid Bitcoin flows coming to Stacks. "Users can just deposit BTC and capture the yield in one go" - @TychoOnnasch When you look at the bigger picture, it's kinda clear $ZEST has been performing the way it was since TGE. Disclosure: I'm holding some $ZEST.

Name & Symbol: Zest Protocol ($ZEST)
Address: 0x5506599c722389a60580b5213ea1da60d64754a1

Full list of protocols that paid their holders >$1M in revenue in the last 30 days ↓ 1. @CantonNetwork: $63.75M 2. @HyperliquidX: $53.79M 3. @trondao: $31.64M 4. @edgeX_exchange: $19.4M 5. @Pumpfun: $17.55M 6. @ethereum: $7.19M 7. @chainlink: $4.6M 8. @AerodromeFi : $4.19M 9. @OREsupply: $2.94M 10. @Uniswap: $2.87M 11. @Lighter_xyz: $2.1M 12. @PancakeSwap: $2.09M 13. @JupiterExchange: $2.08M 14. @solana: $1.71M 15. @helium: $1.4M 16. @SkyEcosystem: $1.11M Just 16 names out of 644 protocols listed on @DefiLlama. Just in case you were wondering why nobody holds alts anymore.

Name & Symbol: edgeX ($EDGE)
Address: 0x70f2eadf1ca1969ff42b0c78e9da519e8937cbaf

Full list of protocols that paid their holders >$1M in revenue in the last 30 days ↓ 1. @CantonNetwork: $63.75M 2. @HyperliquidX: $53.79M 3. @trondao: $31.64M 4. @edgeX_exchange: $19.4M 5. @Pumpfun: $17.55M 6. @ethereum: $7.19M 7. @chainlink: $4.6M 8. @AerodromeFi : $4.19M 9. @OREsupply: $2.94M 10. @Uniswap: $2.87M 11. @Lighter_xyz: $2.1M 12. @PancakeSwap: $2.09M 13. @JupiterExchange: $2.08M 14. @solana: $1.71M 15. @helium: $1.4M 16. @SkyEcosystem: $1.11M Just 16 names out of 644 protocols listed on @DefiLlama. Just in case you were wondering why nobody holds alts anymore.

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

Full list of protocols that paid their holders >$1M in revenue in the last 30 days ↓ 1. @CantonNetwork: $63.75M 2. @HyperliquidX: $53.79M 3. @trondao: $31.64M 4. @edgeX_exchange: $19.4M 5. @Pumpfun: $17.55M 6. @ethereum: $7.19M 7. @chainlink: $4.6M 8. @AerodromeFi : $4.19M 9. @OREsupply: $2.94M 10. @Uniswap: $2.87M 11. @Lighter_xyz: $2.1M 12. @PancakeSwap: $2.09M 13. @JupiterExchange: $2.08M 14. @solana: $1.71M 15. @helium: $1.4M 16. @SkyEcosystem: $1.11M Just 16 names out of 644 protocols listed on @DefiLlama. Just in case you were wondering why nobody holds alts anymore.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

To be completely honest, at first glance, I didn't quite get the difference between fUSD and USDf. After some quick research, there are several fundamental differences. Both stablecoins are tied to @falconfinance, but they have different goals. → $fUSD It’s issued by @Anchorage as a regulated digital dollar, with the structure built around the GENIUS Act. The most interesting part is the reward setup: • Anchorage issues the stablecoin and handles all the regulated stuff • Falcon runs a separate rewards program on top, paying qualifying institutional holders ~3% APY It's a clean workaround, since the GENIUS Act doesn't let issuers pay yield directly. → $USDf This is Falcon’s DeFi-native synthetic dollar, backed by a mix of stablecoins and large assets like BTC and ETH. It's already a top 10 stablecoin on Ethereum with a $1.58B market cap, which is rare for an asset that didn't start as a regulated product. Yield is generated by the protocol itself from the collateral backing USDf, so it's paid out to holders without a separate rewards layer. One asset is for institutions, and one is for retail. The team did a pretty good job of encapsulating both sides of the dollar market. Disclosure: I'm holding $USDf and $FF.

Name & Symbol: Falcon Finance ($FF)
Address: 0xac23b90a79504865d52b49b327328411a23d4db2

Citrea is implementing the first vote-escrow model in the Bitcoin ecosystem, one of the few mechanisms that can create long-term alignment. @citrea_xyz announced that its token CTR is live and trading across major exchanges. Launch of CTR builds on institutional liquidity commitments and the ctUSD pre-deposit vault Let me explain what happened↓ Citrea received institutional liquidity commitments and filled the ctUSD pre-deposit vault original $15M cap filled in seconds & got raised to $18M, also filled in <5 minutes. I got in early. Pre-deposit vaults solve the cold start problem. EigenLayer ran this with ETH before EIGEN. Ethena ran it for USDe. Citrea brought this to the Bitcoin network and ran it for ctUSD and allocated 0.72% of the CTR to the vault participants. CTR is positioned as the coordination asset for the Bitcoin economy. It has a 10B fixed supply, with 12% set aside for genesis distributions like the airdrop. The vault's allocation comes out of that 12% bucket. Eligible airdrop users can claim CTR and choose to stake at https://t.co/yLp8QfOtwk 10 million CTR will be distributed to early stakers. Holding CTR doesn't give you voting power, but staking it does. Staked CTR becomes xCTR (non-transferable) and votes on the gauge system, which decides where Citrea's liquidity rewards flow each period. Voters earn boosted emissions on pools they back, plus bribes from projects competing for those emissions. Staking portal is https://t.co/lj74cR7uJY The main thesis of the CTR is simple: A network’s strength lies in the hands of its active participants. The xCTR architecture puts stakers at the center of the network’s incentives, giving them control over ecosystem capital. Tier 1 exchange distributions, institutional liquidity commitments, and the speed at which ctUSD pre-deposit fills are the answer to whether the thesis is true. Glad I got in. GGs to the Citrea team. Disclosure: I'm a long-time Citrea supporter and depositor.

Name & Symbol: Citrea ($CTR)
Address: 0x11030f79109269d796fd0fb956d6244e502757f7

Active Monthly Addresses ↓ Peak: Solana: 136.6m BNB: 61.6M Base: 38.8 Tron: 21.9m Polygon: 16.1m Ethereum: 15.2m Optimism: 2.4m Plasma: 2.2m Monad: 1.5m Now: BNB: 45m Solana: 28.6m Tron: 16.2m Ethereum: 8.4m Polygon: 6.1m Base: 5.7m Monad: 477K Plasma: 408K Optimism: 273K The clearest way to separate chains with real retention and usage from those driven mostly by incentives, airdrop farming, and short-term speculation cycles.

Name & Symbol: Plasma ($XPL)
Address: 0x405fbc9004d857903bfd6b3357792d71a50726b0

10 emerging Hyperliquid-native protocols I'm paying attention to ↓ 1. @monetrix_xyz: YieldMaxxing on Hyperliquid. A single stablecoin that pulls together funding rates, HLP, maker rebates, and HIP-3 into one onchain yield, powered by Portfolio Margin. Think the Hyperliquid-native Ethena. 2. @rosetta_hl: An automated yield router for stablecoins on Hyperliquid. Deposit USDC and it moves your money across Felix, Hyperlend, Morpho, Aave, and HLP every block to wherever the rate is highest, after gas and slippage. 3. @papertrade_xyz: A fair-launched perps protocol on Hyperliquid offering up to 1000x leverage with no funding rates and no slippage. Trades execute against a price feed instead of an orderbook, fully onchain. 4. @altdotfun: A launchpad on Hyperliquid where every token is paired with a leveraged perp position (2x, 3x, or 5x long or short on any HL market). The token moves both from trading activity and from the underlying perp itself. 5. @ventuals: Pre-IPO perps on Hyperliquid. Take long or short positions on private company valuations like OpenAI, SpaceX, and Stripe with up to 10x leverage, built on HIP-3. 6. @liminalmoney: A delta-neutral yield protocol on Hyperliquid. Deposit stablecoins, capture funding rates through automated short positions, and use the resulting xTokens (xBTC, xETH, xHYPE) as collateral across DeFi. 7. @Meltfinance: Brings tokenized stocks, commodities, and equities onto Hyperliquid as spot markets. You trade real-world assets on the same orderbook you trade BTC, 24/7, from your own wallet. 8. @ChainSight_: An oracle and data infrastructure protocol on Hyperliquid. Builds modular pipelines for price feeds, volatility indices, and risk metrics with sub-3 second latency, powering new derivative products on HL. 9. @ripdotxyz: Tokenized vault strategies on HyperEVM. Flagship rHYPURR gives you liquid, fractional exposure to a managed basket of Hypurr NFTs through ERC-4626 shares, priced hourly by NAV and backed by WHYPE. 10. @Markets_xyz: A perps exchange on Hyperliquid from the Kinetiq team. Trade equities, FX, commodities, bonds, and crypto perps 24/7 with up to 50x leverage, all USDH-margined and priced by Kaiko's institutional oracle. Hyperliquid is moving beyond perps to become the full onchain financial stack. These are the primitives shipping real yield, liquidity, and new products natively. What did I miss?

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

The tokenized asset market just crossed $343B. And it's not just stablecoins. Stocks, bonds, credit funds, and treasuries are all part of the flow now. Here's where the market stands: 1/ RWA onchain (treasuries, stocks, commodities) currently sits at $38.2B. It's grown over 1,000,000% from where it started, and most of the growth happened in the last 2 years. 2/ More than 3,000 different RWAs are live onchain, issued by hundreds of companies. The number was a fraction of this just 2 years ago. 3/ Tokenized U.S. Treasury bills alone hit $13.7B across 28 products from 20 issuers. That's larger than @HyperliquidX's entire market cap, and it's just one subcategory of RWAs. 4/ BlackRock, Franklin Templeton, WisdomTree, Apollo, VanEck, Fidelity, J.P. Morgan, Hamilton Lane. All of these TradFi giants are fully involved with tokenized products and crypto. 5/ @OndoFinance issues 63% of every tokenized stock and 75% of every tokenized ETF onchain. They're the biggest onchain broker right now. 6/ @maplefinance owns 44% of the tokenized credit market with $1.8B in private loans onchain. In TradFi, $1.8B in private credit would make you one of the larger independent lending desks in the market. 7/ @tether and @circle alone have printed 89% of all stablecoin supply. 8/ Tokenized stocks and funds are growing surprisingly fast. • Circle's tokenized stock is up 5,169% in 180 days • Franklin Templeton's onchain treasury fund is up 1,842% • Ondo's tokenized Micron stock is up 3,070% 9/ Ethereum dominates RWA settlement. 67% of all RWAs, 72% of ETFs, 55% of T-bills. Outside of Ethereum, only Solana has a meaningful position, specifically in tokenized stocks where it holds 29%. 10/ Euro stablecoins crossed $772M, up 5,031% from launch, with Circle's EURC owning 66% of the segment. Europe is now fully involved in the stablecoin race. Stablecoins took a decade to reach a $300B+ market cap. RWAs are on pace to do it in a fraction of the time, with TradFi writing the script. Data from @tokenterminal.

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

Three categories are dominating the RWA landscape. So why are bonds winning? They are actually the perfect first asset to tokenize: • Standardized • Yield-bearing • Regulated • Deeply liquid Tokenized bonds are also composable inside DeFi. BUIDL from @Securitize is already tradeable on @Uniswap and used as yield-bearing collateral. Private credit is lagging behind the other 2 because it has 60-180 day redemption windows. DeFi can't wait 60-180 days to exit a position The RWA boom is happening, it's just much narrower than expected.

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

Three categories are dominating the RWA landscape. So why are bonds winning? They are actually the perfect first asset to tokenize: • Standardized • Yield-bearing • Regulated • Deeply liquid Tokenized bonds are also composable inside DeFi. BUIDL from @Securitize is already tradeable on @Uniswap and used as yield-bearing collateral. Private credit is lagging behind the other 2 because it has 60-180 day redemption windows. DeFi can't wait 60-180 days to exit a position The RWA boom is happening, it's just much narrower than expected.

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

I found 10 RWA projects that exploded in the past 90-180 days. Ranked by growth ↓ 1. @Neutrl (sNUSD): tokenized yield strategy issuer (+1,421% in 180 days) 2. @PreStocks (ANTHROPIC): pre-IPO equity tokenization platform (+744% in 180 days) 3. @GetYieldFi (vyUSD): tokenized yield strategy issuer (+176% in 180 days) 4. @paretocredit (ParetoFAL-USDC): onchain credit fund issuer (+154% in 180 days) 5. @DinariGlobal (USD+): tokenized equities and yield product issuer (+127% in 180 days) 6. @nestcredit (YNRWAX): Plume's RWA protocol (+215% in 90 days) 7. @piku_dao (USP): tokenized yield strategy issuer (+128% in 90 days) 8. @onrefinance (ONyc): tokenized yield strategy issuer (+77% in 90 days) 9. @protocol_fx (fxSAVE): onchain yield strategy issuer (+59% in 90 days) 10. @VNX_Platform (VNXAU): tokenized gold issuer (+43% in 90 days) The RWA space is slowly but surely diversifying across the board.

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

Full list of protocols that generated >$5M in revenue in the last 30 days ↓ @tether @circle @CantonNetwork @HyperliquidX @Pumpfun @trondao @Polymarket @Grayscale @SkyEcosystem @ethereum @AxiomExchange @Paxos @aave @phantom @edgeX_exchange @titanbuilderxyz @Courtyard_io Just 16 names out of 934 protocols listed on @DefiLlama. Just in case you were wondering why DeFi protocols are shutting down weekly.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

Full list of protocols that generated >$5M in revenue in the last 30 days ↓ @tether @circle @CantonNetwork @HyperliquidX @Pumpfun @trondao @Polymarket @Grayscale @SkyEcosystem @ethereum @AxiomExchange @Paxos @aave @phantom @edgeX_exchange @titanbuilderxyz @Courtyard_io Just 16 names out of 934 protocols listed on @DefiLlama. Just in case you were wondering why DeFi protocols are shutting down weekly.

Name & Symbol: edgeX ($EDGE)
Address: 0x70f2eadf1ca1969ff42b0c78e9da519e8937cbaf

Privacy is finally being taken seriously this year. Every major primitive (ZK, FHE, MPC, TEE) shipped a real working product in the last 5 months. The 2026 Privacy Landscape ↓ TEE • @iEx_ec: Building TEE-based confidential computing since 2017. Shipped Confidential Token, turning any ERC20 into a confidential & auditable asset, along with Confidential Vault on Arbitrum Sepolia, a plug-in tool for onchain vaults to keep balances, LP positions, and strategies hidden. • @PhalaNetwork: TEE network purpose-built for confidential AI agents. Powers private inference and agent workloads with attested execution off-chain. • @OasisProtocol: First confidential EVM through its Sapphire runtime. Brings programmable privacy to standard Solidity, no new language required. ZK • @aztecnetwork: Alpha Network went live on March 31, 2026, the first Ethereum L2 with fully private smart contracts. Built around Noir, with client-side proving and dual public/private state. • @RAILGUN_Project: Private and bridgeless DeFi using ZK proofs to shield balances and transactions. Integrates directly with major protocols, no wrapping required. • @AleoHQ: First private programmable L1, built around offchain ZK execution with onchain verification. Designed for apps where the entire computation stays private by default. • @namada: IBC-first shielded asset hub, with multichain expansion. It acts as a shared anonymity set for assets bridged from any connected chain. FHE • @zama: FHE tooling infra powering most encrypted compute on EVM today. GSR completed the first confidential OTC trade on Zama in March 2026. • @fhenix: Encrypted computation rollup built on Zama's stack, bringing fully homomorphic privacy to L2 scale. • @inconetwork: Full-stack privacy layer combining FHE with cross-chain modularity, offering confidential compute as a service to connected chains. MPC • @nillion: Decentralised blind compute network for private data and AI inference. Migrated to Ethereum in Jan 2026. for deeper composability with the EVM stack. • @Arcium: MPC-based encrypted supercomputer. Mainnet Alpha live on Solana with 25+ projects actively building. • @LitProtocol: Decentralized key management network for programmable signing and encryption. Did I miss anything?

Name & Symbol: Mind Network ($FHE)
Address: 0xd55c9fb62e176a8eb6968f32958fefdd0962727e

I got a friend who recently got into crypto because of all the tokenization innovation that's happening. The first question he asked me: "Why can't I use my tokenized stocks across DeFi?" I mentioned deRWAs some time ago, and I think it’s time to revisit this topic. There's ~$30B of tokenized real-world assets onchain today. Sounds composable on paper. In practice, almost none of it is. Most of these tokens live in whitelisted wallets on a single chain, and the only addresses they can transfer to are other whitelisted addresses. So you can hold a tokenized treasury, but you can't send it to an Aave pool. That gating exists for a reason. The underlying asset is a real security, and the issuer is legally on the hook for who holds it. The deRWA idea is to move where the gating sits: • Check happens once at issuance (KYC at mint, Reg S eligibility for non-US persons) • After that, the token behaves like any ERC-20 on Base • Sits in any wallet, moves through any contract, usable across DeFi $deSPXA on @base is the first deRWA asset that has the biggest number of integrations across DeFi, accessible on Aerodrome, Definitive, o1, Morpho, Euler, etc. In a nutshell, deSPXA is a DeFi wrapper of the first licensed onchain S&P 500 index fund, with institutional management from Janus Henderson and onchain issuance by Centrifuge. The token represents fund shares but moves 24/7 like any other onchain asset. By the way, @coinbase recently named @centrifuge a preferred tokenization infrastructure this week, and Coinbase Ventures took an equity stake. Coinbase Ventures previously backed Centrifuge's 2022 strategic round and 2024 Series A. They are also extending this framework to credit, which has way messier compliance than equities. Disclosure: I'm a $CFG holder.

Name & Symbol: Centrifuge ($CFG)
Address: 0xcccccccccc33d538dbc2ee4feab0a7a1ff4e8a94

I got a friend who recently got into crypto because of all the tokenization innovation that's happening. The first question he asked me: "Why can't I use my tokenized stocks across DeFi?" I mentioned deRWAs some time ago, and I think it’s time to revisit this topic. There's ~$30B of tokenized real-world assets onchain today. Sounds composable on paper. In practice, almost none of it is. Most of these tokens live in whitelisted wallets on a single chain, and the only addresses they can transfer to are other whitelisted addresses. So you can hold a tokenized treasury, but you can't send it to an Aave pool. That gating exists for a reason. The underlying asset is a real security, and the issuer is legally on the hook for who holds it. The deRWA idea is to move where the gating sits: • Check happens once at issuance (KYC at mint, Reg S eligibility for non-US persons) • After that, the token behaves like any ERC-20 on Base • Sits in any wallet, moves through any contract, usable across DeFi $deSPXA on @base is the first deRWA asset that has the biggest number of integrations across DeFi, accessible on Aerodrome, Definitive, o1, Morpho, Euler, etc. In a nutshell, deSPXA is a DeFi wrapper of the first licensed onchain S&P 500 index fund, with institutional management from Janus Henderson and onchain issuance by Centrifuge. The token represents fund shares but moves 24/7 like any other onchain asset. By the way, @coinbase recently named @centrifuge a preferred tokenization infrastructure this week, and Coinbase Ventures took an equity stake. Coinbase Ventures previously backed Centrifuge's 2022 strategic round and 2024 Series A. They are also extending this framework to credit, which has way messier compliance than equities. Disclosure: I'm a $CFG holder.

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

Here's your comparison table of @useTria vs. @ether_fi vs. @cryptocom vs. @Nexo. I am using Tria & Ether Fi. If you're not yet neobanked, sharing my ref links ↓ → Tria: https://t.co/kgyE1dtCSt → https://t.co/7TzZ2XK7hh: https://t.co/j6sdAjIGXw Which neobank are you using in 2026? Should I switch? Drop your pick.

Name & Symbol: Tria ($TRIA)
Address: 0xb0b92de23baa85fb06208277e925ced53edab482

Eh, the printer days of crypto are gone. • Memecoins: 99% of launches are insider-dumped within 72 hours • Airdrops: Sybil filters + tiny allocations + immediate sell pressure = net negative after time cost • Presales/IDOs: VCs get 10–50x lower prices; retail buys the exit liquidity • Altcoin trading: Most alts are down 70–90% from ATH; catching falling knives • High-APY farms: Reward tokens inflate and dump; 500% APY becomes 5% real yield

Name & Symbol: Aethir Token ($ATH)
Address: 0xbe0ed4138121ecfc5c0e56b40517da27e6c5226b

RWA mcap topped at $26.3B on Apr 18 and has been slowly falling. People are reading it as the tokenization trade rolling over. It's not. Here's what's actually going on: The trigger: Apr 18, Kelp DAO's bridge got drained for $292M. Reminder: Lazarus Group exploited a single-verifier setup on LayerZero to mint unbacked rsETH. They used it as collateral on Aave/Spark/Fluid to borrow real assets before anyone caught on. This was the second hit in 18 days. Drift got taken for $285M on Apr 1, same group. $577M total. The contagion: Aave/Spark/Fluid froze rsETH markets. Users panicked. $13B left DeFi TVL in 48hrs, $8.45B from Aave alone. Why the RWA chart dropped: a big chunk of "RWA mcap" is tokenized treasuries (BUIDL, USYC, USDY) sitting as collateral inside those same lending protocols. When users pulled positions, those tokens got unwound. The RWA aggregate fell without anyone actually redeeming the underlying. The split underneath: – Still growing: BUIDL, USYC, BENJI, tokenized treasuries broadly – Flat: gold (XAUT, PAXG) – Down: DeFi-composable RWA. Credit pools, rsETH vaults, levered treasury positions. JTRSY -10% mtd The takeaway: tokenization itself is fine. What got repriced is the assumption that RWA-as-collateral is risk-free inside DeFi. It isn't. Yield-bearing RWA inherits every bridge + oracle risk of the protocol wrapping it. Don't confuse a DeFi credit shock with the end of the RWA trade.

Name & Symbol: Drift ($DRIFT)
Address: DriFtupJYLTosbwoN8koMbEYSx54aFAVLddWsbksjwg7

RWA mcap topped at $26.3B on Apr 18 and has been slowly falling. People are reading it as the tokenization trade rolling over. It's not. Here's what's actually going on: The trigger: Apr 18, Kelp DAO's bridge got drained for $292M. Reminder: Lazarus Group exploited a single-verifier setup on LayerZero to mint unbacked rsETH. They used it as collateral on Aave/Spark/Fluid to borrow real assets before anyone caught on. This was the second hit in 18 days. Drift got taken for $285M on Apr 1, same group. $577M total. The contagion: Aave/Spark/Fluid froze rsETH markets. Users panicked. $13B left DeFi TVL in 48hrs, $8.45B from Aave alone. Why the RWA chart dropped: a big chunk of "RWA mcap" is tokenized treasuries (BUIDL, USYC, USDY) sitting as collateral inside those same lending protocols. When users pulled positions, those tokens got unwound. The RWA aggregate fell without anyone actually redeeming the underlying. The split underneath: – Still growing: BUIDL, USYC, BENJI, tokenized treasuries broadly – Flat: gold (XAUT, PAXG) – Down: DeFi-composable RWA. Credit pools, rsETH vaults, levered treasury positions. JTRSY -10% mtd The takeaway: tokenization itself is fine. What got repriced is the assumption that RWA-as-collateral is risk-free inside DeFi. It isn't. Yield-bearing RWA inherits every bridge + oracle risk of the protocol wrapping it. Don't confuse a DeFi credit shock with the end of the RWA trade.

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

Most lending markets make you pick: Earn yield on your collateral, or borrow against it. The new AVLT/USDT0 market on Morpho combines both. $AVLT is the 'receipt' you get for your USDT deposit into @alturax's vault (currently earning ~20% APY). Now you can post that same AVLT as collateral on Morpho and borrow USDT0 against it (up to 91.5% LTV), while still earning the vault yield. The current spread: → AVLT APY: 19.62% → Morpho borrow rate: 10.88% It means you earn more on collateral than you pay to borrow. This is a very capital-efficient setup for those who can actively manage the position.

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

Have you ever heard about Grove Finance? They are a top-10 DeFi TVL company on DefiLlama btw. There is a reason for it. The main thing they do is route stablecoin liquidity into: – institutional credit strategies – RWA products – DeFi lending venues – yield vaults So they're not a "normal" lending app, they're actually a capital router for Sky/USDS liquidity. Current TVL sits at ~$2.6B. Most of it on Ethereum ($2.566B), with ~$68.86M on Base. And BTW, they scaled stupidly fast. Grove launched end of June 2025 with serious institutional allocations already in place. It hit $1.7B+ TVL by November. Also, I saw their public app launched last month, in April. Now, the question I have is whether retail follows the same way institutions already did.

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

The @megaeth launch is the most hyped L2 I've seen in a while. Hyped launches tend to look better on the surface than in the data, so I dug deeper: > TVL: $100M to $723M since the token launch > 2-4M daily transactions since launch (436M total) > 870K total addresses > $MEGA at $0.13/$1.27B FDV (down 37% since launch) > @aave has $627M TVL (87% of total TVL) Every major L2 had one or two dominant protocols early on before the ecosystem filled out: > @arbitrum leaned on @GMX_IO and @Uniswap > @base leaned on @AerodromeFi Most of that TVL comes from $USDM (MegaETH's native stablecoin), which earns yield through Aave. But 87% is still too extreme. If Aave is exploited or USDM loses its peg, the whole thing is at risk. Still, the transaction volume and address growth look solid for a chain that's only been live since February. I want to see how the TVL spreads before making any claims.

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

Full list of protocols & pools exploited in April (+2 since yesterday) ↓ Wasabi Protocol: $ unknown Sweat: $3,500,000 Aftermath Finance: $114,000 Judao: $228,000 Singularity Finance: $413,000 ZetaChain: $300,000 Scallop Lend: $150,000 Purrlend: $1,500,000 Giddy: $1,300,000 Kipseli: $80,000 Volo Vault: $3,500,000 Thetanuts Finance: $50,000 Juicebox V3: $52,000 KelpDAO: $293,000,000 Grinex: $15,000,000 Rhea Lend: $18,400,000 Zerion Wallet: $100,000 MONA: $60,950 Dango: $410,000 SubQuery Network: $60,000 Hyperbridge: $2,500,000 Aethir: $423,000 BSC TMM/USDT: $1,665,000 Silo V2: $392,000 Drift: $285,000,000 LML/USDT staking protocol: $950,000 This is the 26th hack this month. More than $629,000,000 stolen in total. Still 12 hours left in April...

Name & Symbol: Drift ($DRIFT)
Address: DriFtupJYLTosbwoN8koMbEYSx54aFAVLddWsbksjwg7

The US has Uniswap, Circle, Chainlink, Hyperliquid, Phantom, MetaMask, etc. Asia has PancakeSwap, Tron, Trust Wallet, SushiSwap, Meteora, Aster, etc. EU has _______?

Name & Symbol: Meteora ($MET)
Address: METvsvVRapdj9cFLzq4Tr43xK4tAjQfwX76z3n6mWQL

The US has Uniswap, Circle, Chainlink, Hyperliquid, Phantom, MetaMask, etc. Asia has PancakeSwap, Tron, Trust Wallet, SushiSwap, Meteora, Aster, etc. EU has _______?

Name & Symbol: Aster ($ASTER)
Address: 0x000ae314e2a2172a039b26378814c252734f556a

Full list of protocols & pool exploited in April ↓ Aftermath Finance: $ unkown Judao: $228,000 Singularity Finance: $413,000 ZetaChain: $300,000 Scallop Lend: $150,000 Purrlend: $1,500,000 Giddy: $1,300,000 Kipseli: $80,000 Volo Vault: $3,500,000 Thetanuts Finance: $50,000 Juicebox V3: $52,000 KelpDAO: $293,000,000 Grinex: $15,000,000 Rhea Lend: $18,400,000 Zerion Wallet: $100,000 MONA: $60,950 Dango: $410,000 SubQuery Network: $60,000 Hyperbridge: $2,500,000 Aethir: $423,000 BSC TMM/USDT: $1,665,000 Silo V2: $392,000 Drift: $285,000,000 LML/USDT staking protocol: $950,000 This is the 24th hack this month. More than $624,000,000 stolen in total. And it's not even the end of the month...

Name & Symbol: Drift ($DRIFT)
Address: DriFtupJYLTosbwoN8koMbEYSx54aFAVLddWsbksjwg7

Tokenization in the RWA sector has been ahead of actual utility for a while now. And the good news is that assets are coming onchain, but the infrastructure to make them actually useful in DeFi is still catching up. NUVA is one of the new players that are building composable yield infrastructure for real-world assets on Ethereum. Its marketplace model is designed to solve fragmentation by creating a simple and unified experience for anyone to easily access top-tier RWA vaults permissionlessly. IMO, tokenized RWAs have the potential to reach trillions in value in the next few years. Unlocking liquidity and accessibility for institutional-gated assets is a huge asymmetric opportunity. Looking forward to their full-scale launch soon

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

TradFi is getting serious about crypto. Stripe shipped stablecoin payments, BlackRock runs the biggest tokenized treasury fund, Robinhood put stocks onchain. @multibankgroup is in the same wave, just coming at it from a different angle. ICYMI: It's a Dubai-based financial firm that's been around since 2005, regulated across 5 continents. Instead of bolting a single crypto product onto what they already do, they built a full stack inside it. → The exchange piece is @multibank_io live since 2023, offering spot, derivatives, and OTC in one app. → $MBG is the token tying it all together, launched July 2025, it gives holders fee discounts, staking, and access to RWA products. Most TradFi entries into crypto are just one simple product. This is a full-stack, exchange, token with a $440M buyback-and-burn program, tokenized real estate, digital banking, and a joint venture with Khabib Nurmagomedov, all under one regulated group. A 20-year-old financial institution going all-in on crypto and I'm here for it.

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

Every wallet and fintech app is racing to become the place where users earn yield. But the usual "Earn" category we're used to seeing is way more complex than it looks from the outside. Let me break it down to you in 2 minutes ↓ 1️⃣ How onchain yield actually works for teams The DeFi Mullet is the idea that fintech apps offer onchain yield while hiding DeFi complexity underneath. Coinbase is already doing it, BTC loans powered by Morpho. Kraken is plugged into Aave. Users see a clean "Earn" button, never touch a protocol. Sounds simple. Underneath that button? Not so much. → Vault protocols are where yield comes from: Aave, Morpho, Ethena, Pendle, Euler. Each has its own contracts, chains, and deposit tokens. → Best rates shift constantly. USDC might yield more on Aave on Ethereum today, Morpho on Base tomorrow. Without aggregation, you're stuck with whatever you built. → Users hold random tokens on random chains. If your Earn category only supports one token on one chain, most users can't even deposit without first swapping and bridging. → Data and execution are separate products in this market. You can pull yield data or execute deposits. Not both from one place. Result: most teams ship something limited on one chain, or burn months on custom infra. 2️⃣ What LI.​FI Earn changes @lifiprotocol just shipped LI.​FI Earn. The first real stack combining vault aggregation across 20+ protocols with cross-chain execution across 60+ chains. One API. That data + execution gap? Gone. → User holds USDC on Arbitrum, gets the best yield on Base, swap, bridge, and deposit in one click → Any-token deposits handled automatically → Teams keep full control over protocol selection, design, disclosures, and eligibility → Built-in monetization from day one → Zero maintenance, LI.​FI handles protocol updates, routing, and infra It essentially offers the road from zero to a fully functional Earn product through one integration. Wallets, fintech apps, consumer platforms, and even AI agents can access it through LI.​FI's API. 3️⃣ Why now TradFi isn't experimenting with yield anymore. They're committing. LI.​FI already powers MetaMask, Phantom, Binance, Robinhood, Kraken, 1,000+ integrators, and billions in monthly volume. Earn runs on that same layer. Teams that ship fastest capture distribution. So why does anyone build their own infrastructure if they can plug into an existing one?

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2