u/stablefyi

Below are the top 5 incentivized (via Merkl) opportunities to earn stablecoin-only yield on stablecoin-only liquidity.

Available yields have fallen considerably compared to previous weeks:

1. 10.62% - USDp, Provide liquidity to Balancer USDp-eUSDC-3, HyperEVM

2. 10.00% - DOLA, Borrow USDC on sDOLA/USDC 91.5%, Ethereum

3. 9.10% - USDp, Stake into the Curve frxUSDP gauge, Avalanche

4. 7.64% - USDtb, Supply USDtb on eUSDtb vault, Ethereum

5. 7.38% - fxUSD, Supply to fxUSD Agentic Stablecoin V2 vault on Morpho on Base, Base

*Note: Only includes stablecoin campaigns with > 100k liquidity and > 5 days remaining in current campaign. Rates can fluctuate. Direct links cannot be posted here but opportunities can be found on the Merkl website.

Below, are the best rates you can get for 1K, 10K, and 100K USD investments on fixed term/fixed yield principal tokens (PTs).

This week, all investment levels are led by sUSD3 (3jane), a junior tranche to USD3 that earns yield from a levered share of interest from a credit pool of fintech consumer/SMB and crypto loans.

1,000 USD Investment Level Opportunities:

1. 16.73% - sUSD3 (USDC), Ethereum, Pendle, December 16
2. 15.19% - ONyc, Solana, Exponent, September 10
3. 14.92% - reUSDe (USDe), Ethereum, Pendle, December 9
4. 14.37% - sUSG (USG), Ethereum, Spectra, September 24
5. 13.94% - ONyc, Solana, rate-x, September 29

10,000 USD Investment Level Opportunities:

1. 16.60% - sUSD3 (USDC), Ethereum, Pendle, December 16
2. 15.18% - ONyc, Solana, Exponent, September 10
3. 14.89% - reUSDe (USDe), Ethereum, Pendle, December 9
4. 14.46% - ONyc, Solana, rate-x, September 10
5. 12.24% - USP (USDC), Ethereum, Pendle, November 25

100,000 USD Investment Level Opportunities:

1. 16.50% - sUSD3 (USDC), Ethereum, Pendle, December 16
2. 15.07% - ONyc, Solana, Exponent, September 10
3. 14.84% - reUSDe (USDe), Ethereum, Pendle, December 9
4. 11.47% - USD3, Ethereum, Pendle, December 16
5. 10.32% - earnAUSD (AUSD), Monad, Pendle, October 7

*Note: rates are calculated at time of publication and subject to change; limited to markets with > 2 weeks in duration and tokens at or above their peg. PT markets still have risk of loss from underlying stablecoin depegs.

Below are the top 5 opportunities to earn stablecoin-only yield on stablecoin-only liquidity via incentivized Merkl campaigns:

1. 17.20% - USDT0, Provide liquidity to Uniswap msUSD-USDT0 0.05%, Plasma

2. 14.92% - USDC, Supply USDC to Yieldseeker to earn Boosted APY Rewards, Base

3. 12.00% - USDp, Provide liquidity to Balancer USDp-eUSDC-3, HyperEVM

4. 9.30% - mUSD, Hold mUSD on Ethereum or Linea, Linea

5. 9.22% - BOLD, Provide liquidity to UniswapV4 BOLD-USDC 0.05%, Ethereum

*Note: Only includes stablecoin campaigns with > 100k liquidity and > 5 days remaining in current campaign. Rates can fluctuate. Direct links cannot be posted here but opportunities can be found on the Merkl website.

Below, are the best rates you can get for 1K, 10K, and 100K USD investments on fixed term/fixed yield principal tokens (PTs).

The 1k investment level is led by sUSDu, which generates yield through delta neutral defi strategies. 10k & 100k are led by reUSDe which generates yield through reinsurance. Last week's leader AVLT has de-pegged.

1,000 USD Investment Level Opportunities:

1. 17.29% - sUSDu, Solana, rate-x, July 29

2. 15.33% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.44% - sUSG (USG), Ethereum, Spectra, September 24

4. 13.74% - ONyc, Solana, Exponent, September 10

5. 13.59% - earnAUSD (AUSD), Monad, Pendle, October 7

10,000 USD Investment Level Opportunities:

1. 15.28% - reUSDe (USDe), Ethereum, Pendle, December 9

2. 14.88% - sUSDu, Solana, rate-x, July 29

3. 13.73% - ONyc, Solana, Exponent, September 10

4. 13.50% - earnAUSD (AUSD), Monad, Pendle, October 7

5. 11.67% - USD3, Ethereum, Pendle, December 16

100,000 USD Investment Level Opportunities:

1. 15.27% - reUSDe (USDe), Ethereum, Pendle, December 9

2. 13.70% - ONyc, Solana, Exponent, September 10

3. 13.25% - earnAUSD (AUSD), Monad, Pendle, October 7

4. 11.67% - USD3, Ethereum, Pendle, December 16

5. 10.59% - nOPAL (USDC), Ethereum, Pendle, September 18

*Note: rates are calculated at time of publication and subject to change; limited to markets with > 2 weeks in duration and tokens at or above their peg. PT markets still have risk of loss from underlying stablecoin depegs.

Here are the current top 5 APRs on stablecoin vaults available on perpetual futures decentralized exchanges (perp dexes):

1. 119.20% - GMTrade GLV(Commodity), GMTrade

2. 87.25% - Hotstuff Liquidity Vault, Hotstuff

3. 77.85% - GMTrade GLV, GMTrade

4. 62.60% - GMTrade GLV(Forex), GMTrade

5. 34.75% - KiloEx Earn USDT (Base), KiloEx

*Note: Funds may be used for liquidity and insurance on the exchange and sometimes have a lock-up period. Rates reflect past performance, can fluctuate, and can risk going negative. APRs are based on self-published reporting from exchanges and may vary in duration.

Below, are the best rates you can get for 1K, 10K, and 100K USD investments on fixed term/fixed yield principal tokens (PTs).

AVLT (Altura), which generates yields through delta-neutral crypto strategies and RWA arbitrage (gold markets), is back as the leader at all investment levels. Yields are compressing across all markets.

1,000 USD Investment Level Opportunities:

1. 17.00% - AVLT (USDT0), HyperEVM, Pendle, November 11

2. 15.91% - sUSDu, Solana, rate-x, July 29

3. 13.78% - reUSDe (USDe), Ethereum, Pendle, June 24

4. 13.01% - ONyc, Solana, Exponent, September 10

5. 12.37% - jrmHYPER (USDC), Ethereum, Pendle, July 1

10,000 USD Investment Level Opportunities:

1. 17.00% - AVLT (USDT0), HyperEVM, Pendle, November 11

2. 13.77% - reUSDe (USDe), Ethereum, Pendle, June 24

3. 13.67% - sUSDu, Solana, rate-x, July 29

4. 13.01% - ONyc, Solana, Exponent, September 10

5. 11.62% - jrmHYPER (USDC), Ethereum, Pendle, July 1

100,000 USD Investment Level Opportunities:

1. 16.77% - AVLT (USDT0), HyperEVM, Pendle, November 11

2. 12.98% - ONyc, Solana, Exponent, September 10

3. 11.24% - msY (msUSD), Ethereum, Pendle, July 29

4. 10.30% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 10.29% - USD3, Ethereum, Pendle, December 16

*Note: rates are calculated at time of publication and subject to change; limited to markets with > 2 weeks in duration and tokens at or above their peg. PT markets still have risk of loss from underlying stablecoin depegs.

Here are the top 5 incentivized Merkl opportunities to earn stablecoin-only yield on stablecoin-only liquidity.

Mento markets yields have been consistently high over the past several weeks:

1. 25.98% - USDC, Provide liquidity to Uniswap msUSD-USDC, Uniswap, Ethereum

2. 21.96% - USDm, Provide liquidity to Mento GBPm-USDm, Mento, Monad

3. 21.14% - USDm, Provide liquidity to Mento EURm-USDm, Mento, Monad

4. 15.53% - USDm, Provide liquidity to Mento USDC-USDm, Mento, Monad

5. 14.02% - USDT0, Provide liquidity to Uniswap msUSD-USDT0, Uniswap, Plasma

*Note: Only includes stablecoin campaigns with > 100k liquidity and > 5 days remaining in current campaign. Rates can fluctuate. Opportunities can be found on the Merkl website.

Below, are the best rates you can get for 1K, 10K, and 100K USD investments on fixed term/fixed yield principal tokens (PTs).

This week is led by USP (PikuFinance) which accumulates yield from delta-neutral strategies and RWA assets (including via FX arbitrage and carry trades and on-chain DeFi yields).

Recent leader apxUSD is currently not included due to sustained de-peg in the past 7 days.

1,000 USD Investment Level Opportunities:

1. 18.97% - USP (USDC), Ethereum, Pendle, June 24

2. 18.08% - AVLT (USDT0), HyperEVM, Pendle, November 11

3. 16.99% - reUSDe (USDe), Ethereum, Pendle, June 24

4. 13.34% - ONyc, Solana, Exponent, September 10

5. 12.41% - msY (msUSD), Ethereum, Pendle, July 29

10,000 USD Investment Level Opportunities:

1. 18.44% - USP (USDC), Ethereum, Pendle, June 24

2. 18.06% - AVLT (USDT0), HyperEVM, Pendle, November 11

3. 16.93% - reUSDe (USDe), Ethereum, Pendle, June 24

4. 13.34% - ONyc, Solana, Exponent, September 10

5. 12.39% - msY (msUSD), Ethereum, Pendle, July 29

100,000 USD Investment Level Opportunities:

1. 17.92% - AVLT (USDT0), HyperEVM, Pendle, November 11

2. 16.48% - reUSDe (USDe), Ethereum, Pendle, June 24

3. 13.31% - ONyc, Solana, Exponent, September 10

4. 12.19% - msY (msUSD), Ethereum, Pendle, July 29

5. 11.76% - USP (USDC), Ethereum, Pendle, June 24

*Note: rates are calculated at time of publication and subject to change; limited to markets with > 2 weeks in duration and tokens at or above their peg. PT markets still have risk of loss from underlying stablecoin depegs.

Below are the top 5 incentivized Merkl opportunities to earn stablecoin-only yield on stablecoin-only liquidity.

Most markets are the same as last week, suggesting relatively durable yields:

1. 20.36% - USDm, Provide liquidity to Mento GBPm-USDm, Mento, Monad

2. 18.26% - MUSD, Provide liquidity to UniswapV4 USDC-MUSD, Uniswap, Mezo

3. 15.00% - USDp, Stake into the Curve USDpfrxUSD gauge, Curve, HyperEVM

4. 14.27% - USDm, Provide liquidity to Mento EURm-USDm, Mento, Monad

5. 12.46% - USDC, Provide liquidity to PancakeSwap USDC-MUSD, PancakeSwap, Base

*Note: Only includes stablecoin campaigns with > 100k liquidity and > 5 days remaining in current campaign. Rates can fluctuate.Opportunities can be found on the Merkl website.

Below, are the best rates you can get for 1K, 10K, and 100K USD investments on fixed term/fixed yield principal tokens (PTs).

Again this week, APYx leads all PT markets with its apyUSD token, accruing yield on preferred shares of digital asset treasures (DATs). Pendleis still, by far, the most dominant marketplace for stablecoin PTs.

1,000 USD Investment Level Opportunities:

1. 20.79% - apyUSD (apxUSD), Ethereum, Pendle, June 17

2. 17.94% - apyUSD (apxUSD), Ethereum, Pendle, August 26

3. 17.09% - AVLT (USDT0), HyperEVM, Pendle, November 11

4. 16.40% - apyUSD (apxUSD), Ethereum, Pendle, November 4

5. 15.46% - reUSDe (USDe), Ethereum, Pendle, June 24

10,000 USD Investment Level Opportunities:

1. 20.76% - apyUSD (apxUSD), Ethereum, Pendle, June 17

2. 17.94% - apyUSD (apxUSD), Ethereum, Pendle, August 26

3. 17.08% - AVLT (USDT0), HyperEVM, Pendle, November 11

4. 16.35% - apyUSD (apxUSD), Ethereum, Pendle, November 4

5. 15.01% - reUSDe (USDe), Ethereum, Pendle, June 24

100,000 USD Investment Level Opportunities:

1. 20.58% - apyUSD (apxUSD), Ethereum, Pendle, June 17

2. 17.94% - apyUSD (apxUSD), Ethereum, Pendle, August 26

3. 16.91% - AVLT (USDT0), HyperEVM, Pendle, November 11

4. 16.04% - apyUSD (apxUSD), Ethereum, Pendle, November 4

5. 13.35% - ONyc, Solana, Exponent, September 10

*Note: rates are calculated at time of publication and subject to change; limited to markets with > 2 weeks in duration and tokens at or above their peg. PT markets still have risk of loss from underlying stablecoin depegs.

Below, are the best rates you can get for 1K, 10K, and 100K USD investments on fixed term/fixed yield principal tokens (PTs).

This week continues the near total Pendle domination across PT marketplaces. apyUSD continues to dominate among PTs, as it accrues yields from cash dividends on preferred shares of Digital Asset Treasuries (DATs).

1,000 USD Investment Level Opportunities:

1. 20.46% - apyUSD (apxUSD), Ethereum, Pendle, June 17

2. 17.86% - reUSDe (USDe), Ethereum, Pendle, June 24

3. 16.29% - USP (USDC), Ethereum, Pendle, June 24

4. 15.76% - apyUSD (apxUSD), Ethereum, Pendle, September 4

5. 15.45% - AVLT (USDT0), HyperEVM, Pendle, November 11

10,000 USD Investment Level Opportunities:

1. 20.44% - apyUSD (apxUSD), Ethereum, Pendle, June 17

2. 17.81% - reUSDe (USDe), Ethereum, Pendle, June 24

3. 15.78% - USP (USDC), Ethereum, Pendle, June 24

4. 15.42% - AVLT (USDT0), HyperEVM, Pendle, November 11

5. 11.97% - ONyc, Solana, Exponent, September 10

100,000 USD Investment Level Opportunities:

1. 20.44% - apyUSD (apxUSD), Ethereum, Pendle, June 17

2. 17.39% - reUSDe (USDe), Ethereum, Pendle, June 24

3. 15.64% - apyUSD (apxUSD), Ethereum, Pendle, September 4

4. 15.36% - AVLT (USDT0), HyperEVM, Pendle, November 11

5. 11.85% - ONyc, Solana, Exponent, September 10

*Note: rates are calculated at time of publication and subject to change; limited to markets with > 2 weeks in duration and tokens at or above their peg. PT markets still have risk of loss from underlying stablecoin depegs.

Below, are the best rates you can get for 1K, 10K, and 100K USD investments on fixed term/fixed yield principal tokens (PTs).

Apyx is dominating all investment levels with it's apyUSD and apxUSD tokens. Yields are generated from cash dividends on preferred shares of Digital Asset Treasuries (DATs).

1,000 USD Investment Level Opportunities:

1. 17.79% - apyUSD (apxUSD), Ethereum, Pendle, June 17

2. 15.68% - reUSDe (USDe), Ethereum, Pendle, June 24

3. 15.11% - apxUSD, Ethereum, Pendle, June 17

4. 14.69% - apxUSD, Base, Pendle, June 17

5. 13.61% - USP (USDC), Ethereum, Pendle, June 24

10,000 USD Investment Level Opportunities:

1. 17.78% - apyUSD (apxUSD), Ethereum, Pendle, June 17

2. 15.63% - reUSDe (USDe), Ethereum, Pendle, June 24

3. 15.11% - apxUSD, Ethereum, Pendle, June 17

4. 14.66% - apxUSD, Base, Pendle, June 17

5. 13.23% - ONyc, Solana, Exponent, September 10

100,000 USD Investment Level Opportunities:

1. 17.59% - apyUSD (apxUSD), Ethereum, Pendle, June 17

2. 15.17% - reUSDe (USDe), Ethereum, Pendle, June 24

3. 15.04% - apxUSD, Ethereum, Pendle, June 17

4. 14.42% - apxUSD, Base, Pendle, June 17

5. 12.51% - ONyc, Solana, Exponent, September 10

*Note: rates are calculated at time of publication and subject to change; limited to markets with > 2 weeks in duration and tokens at or above their peg. PT markets still have risk of loss from underlying stablecoin depegs.

Below, are the best rates you can get for 1K, 10K, and 100K USD investments on fixed term/fixed yield principal tokens (PTs).

This week is _again_ led by AVLT. New entrant to the leaders list is ONyc on rate-x, which generates yield through underwriting reinsurance and collateral yield.

1,000 USD Investment Level Opportunities:

1. 18.15% - AVLT (USDT0), HyperEVM, Pendle, May 20

2. 16.52% - apyUSD (apxUSD), Ethereum, Pendle, June 17

3. 15.56% - USP (USDC), Ethereum, Pendle, June 24

4. 14.03% - ONyc, Solana, rate-x, May 29

5. 13.07% - apxUSD, Base, Pendle, June 17

10,000 USD Investment Level Opportunities:

1. 18.17% - AVLT (USDT0), HyperEVM, Pendle, May 20

2. 16.51% - apyUSD (apxUSD), Ethereum, Pendle, June 17

3. 14.72% - USP (USDC), Ethereum, Pendle, June 24

4. 13.85% - ONyc, Solana, rate-x, May 29

5. 13.05% - apxUSD, Base, Pendle, June 17

100,000 USD Investment Level Opportunities:

1. 17.83% - AVLT (USDT0), HyperEVM, Pendle, May 20

2. 16.51% - apyUSD (apxUSD), Ethereum, Pendle, June 17

3. 12.92% - apxUSD, Base, Pendle, June 17

4. 12.92% - apxUSD, Ethereum, Pendle, June 17

5. 12.27% - ONyc, Solana, rate-x, May 29

*Note: rates are calculated at time of publication and subject to change; limited to markets with > 2 weeks in duration and tokens at or above their peg. PT markets still have risk of loss from underlying stablecoin depegs.

Below are the top APRs on Merkl incentive campaigns for stablecoins.

Earn stablecoin-only yield on stablecoin-only liquidity:

1. 24.10% - USDm, Provide liquidity to Mento GBPm-USDm, Mento, Monad
2. 21.33% - USDm, Provide liquidity to Mento EURm-USDm, Mento, Monad
3. 18.67% - apxUSD, Hold apxUSD, Jumper, Ethereum
4. 18.13% - USDC, Supply to Alpha USDT Prime V2 vault on Morpho on HyperEVM, Morpho, HyperEVM
5. 15.63% - USDC, Provide liquidity to UniswapV3 msUSD-USDC, Uniswap, Ethereum

*Note: Only includes stablecoin campaigns with > 100k liquidity and > 5 days remaining in current campaign. Rates can fluctuate. Direct links cannot be posted here but opportunities can be found on the Merkl website.

Below, are the best rates you can get for 1K, 10K, and 100K USD investments on fixed term/fixed yield principal tokens (PTs).

This week again contains the same leaders as the past month, with the exception of newly ranked USP from PikuDAO, which generates yield through a diversified portfolio of delta-neutral strategies (including FX arbitrage, defi lending, liquidity provision, staking, carry trades, and arbitrage).

All top markets are dominated by Pendle.

1,000 USD Investment Level Opportunities:

1. 19.00% - AVLT (USDT0), HyperEVM, Pendle, May 20

2. 14.75% - apyUSD (apxUSD), Ethereum, Pendle, June 17

3. 14.74% - USP (USDC), Ethereum, Pendle, June 24

4. 14.73% - reUSDe (USDe), Ethereum, Pendle, June 24

5. 14.28% - apxUSD, Base, Pendle, June 17

10,000 USD Investment Level Opportunities:

1. 19.00% - AVLT (USDT0), HyperEVM, Pendle, May 20

2. 15.17% - apyUSD (apxUSD), Ethereum, Pendle, June 17

3. 14.68% - reUSDe (USDe), Ethereum, Pendle, June 24

4. 14.25% - apxUSD, Base, Pendle, June 17

5. 13.94% - USP (USDC), Ethereum, Pendle, June 24

100,000 USD Investment Level Opportunities:

1. 18.70% - AVLT (USDT0), HyperEVM, Pendle, May 20

2. 15.17% - apyUSD (apxUSD), Ethereum, Pendle, June 17

3. 14.46% - reUSDe (USDe), Ethereum, Pendle, June 24

4. 13.90% - apxUSD, Ethereum, Pendle, June 17

5. 13.85% - apxUSD, Base, Pendle, June 17

*Note: rates are calculated at time of publication and subject to change; limited to markets with > 2 weeks in duration and tokens at or above their peg. PT markets still have risk of loss from underlying stablecoin depegs.