u/stablefyi

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

1inch Aqua campaigns continues to lead with outsized yields:

1. 191.11% - USDC, Provide liquidity to DeFi major markets on 1inch Aqua - Season 1 (USDC rewards), Ethereum

2. 115.08% - USDC, Provide liquidity to ETH & LST markets on 1inch Aqua - Season 1 (USDC rewards), Ethereum

3. 77.70% - USDC, Provide liquidity to BTC wrapper markets on 1inch Aqua - Season 1 (USDC rewards), Ethereum

4. 61.62% - USDC, Provide liquidity to stablecoin markets on 1inch Aqua - Season 1 (USDC rewards), Ethereum

5. 12.94% - USDC, Stakers Rewards ZFI, 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).

Consistently the same leaders every week for the past couple of months. Once again sUSD3, a first-loss/junior tranche for a private loan pool, operated by 3Jane, leads across all investment levels.

1,000 USD Investment Level Opportunities:

1. 22.90% - sUSD3 (USDC), Ethereum, Pendle, December 16
2. 18.07% - reUSDe (USDe), Ethereum, Pendle, December 9
3. 15.18% - ONyc, Solana, Exponent, September 10
4. 14.42% - sUSG (USG), Ethereum, Spectra, September 24
5. 13.87% - USD3, Ethereum, Pendle, December 16

10,000 USD Investment Level Opportunities:

1. 22.74% - sUSD3 (USDC), Ethereum, Pendle, December 16
2. 15.17% - ONyc, Solana, Exponent, September 10
3. 13.87% - USD3, Ethereum, Pendle, December 16
4. 13.66% - nOPAL (USDC), Ethereum, Pendle, September 18
5. 13.06% - ONyc, Solana, rate-x, September 29

100,000 USD Investment Level Opportunities:

1. 22.51% - sUSD3 (USDC), Ethereum, Pendle, December 16
2. 17.81% - reUSDe (USDe), Ethereum, Pendle, December 9
3. 15.09% - ONyc, Solana, Exponent, September 10
4. 13.67% - USD3, Ethereum, Pendle, December 16
5. 13.62% - 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.

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

Virtually all the same leaders this week. Again, all levels led by sUSD3 a junior tranche that takes first loss on a private loan portfolio.

1,000 USD Investment Level Opportunities:

1. 23.10% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.43% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.77% - ONyc, Solana, Exponent, September 10

4. 14.51% - sUSG (USG), Ethereum, Spectra, September 24

5. 13.70% - nOPAL (USDC), Ethereum, Pendle, September 18

10,000 USD Investment Level Opportunities:

1. 22.84% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.40% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.76% - ONyc, Solana, Exponent, September 10

4. 13.67% - USD3, Ethereum, Pendle, December 16

5. 13.67% - nOPAL (USDC), Ethereum, Pendle, September 18

100,000 USD Investment Level Opportunities:

1. 22.69% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 14.72% - ONyc, Solana, Exponent, September 10

3. 13.59% - USD3, Ethereum, Pendle, December 16

4. 13.50% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 11.11% - strUSD (trUSD), Ethereum, Pendle, November 25

*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 Merkl opportunities to earn stablecoin-only yield on stablecoin-only liquidity.

This week is dominated by opportunities incentivized by 1inch Aqua, which bills itself as a self-custodial shared liquidity layer that lets providers back multiple trading positions from a single wallet balance without locking tokens in pools.

1. 125.56% - USDC, Aqua Season 1 — DeFi Majors (USDC boost), Ethereum

2. 107.96% - USDC, Aqua Season 1 — ETH & LSTs (USDC boost), Ethereum

3. 93.78% - USDC, Aqua Season 1 — BTC Wrappers (USDC boost), Ethereum

4. 57.15% - USDC, Aqua Season 1 — RWA (USDC boost), Ethereum

5. 29.30% - USDC, Aqua Season 1 — Stablecoins (USDC boost), 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).

sUSD3 (3jane) continues to be the top yield, week-after-week. It is a riskier junior tranche that earns higher yield but takes first losses from a credit pool of fintech consumer/SMB and crypto loans.

1,000 USD Investment Level Opportunities:

1. 22.97% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.20% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.19% - ONyc, Solana, Exponent, September 10

4. 14.18% - sUSG (USG), Ethereum, Spectra, September 24

5. 13.78% - nOPAL (USDC), Ethereum, Pendle, September 18

10,000 USD Investment Level Opportunities:

1. 22.81% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.18% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.19% - ONyc, Solana, Exponent, September 10

4. 13.76% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 13.57% - USD3, Ethereum, Pendle, December 16

100,000 USD Investment Level Opportunities:

1. 22.64% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.17% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.12% - ONyc, Solana, Exponent, September 10

4. 13.62% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 13.57% - 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.

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

As with the previous several weeks, SUSD3 once again leads across all investment levels.

trUSD (Tori Finance), a synthetic USD-pegged token is a notable new entrant at the 10k level. The peg is backed by the NAV of hedged / delta neutral trading positions, cash & equivalents, and and a small buffer fund. The staked version earns yield from delta neutral positions in global money markets, futures arbitrage / basis trades, and calendar spreads.

1,000 USD Investment Level Opportunities:

1. 22.33% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.43% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 17.37% - WUSDN (USDN), Ethereum, Spectra, January 11, 2027

4. 14.22% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 14.19% - ONyc, Solana, Exponent, September 10

10,000 USD Investment Level Opportunities:

1. 22.07% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.43% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.22% - nOPAL (USDC), Ethereum, Pendle, September 18

4. 14.18% - ONyc, Solana, Exponent, September 10

5. 13.63% - trUSD (trUSD), Ethereum, Pendle, November 25

100,000 USD Investment Level Opportunities:

1. 21.63% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.43% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.10% - ONyc, Solana, Exponent, September 10

4. 13.93% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 13.43% - 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 this week's top 5 opportunities to earn stablecoin-only yield on stablecoin-only liquidity on Merkl

Yields for stablecoin-only incentives have been dropping the past few weeks.

1. 10.10% - 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. 7.56% - USDp, Stake into the Curve USDpfrxUSD gauge, HyperEVM
5. 6% - USDG, Lend USDG on Aave V4 Core Hub, 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).

sUSD3 continues to dominate across all investment levels. The APYs remain high in light of the underlying risk, given that it's a junior tranche to USD3 that takes first losses from yield earned from a credit pool of fintech consumer/SMB and crypto loans.

1,000 USD Investment Level Opportunities:

1. 21.46% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.83% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.27% - ONyc, Solana, Exponent, September 10

4. 13.60% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 13.55% - sUSG (USG), Ethereum, Spectra, September 24

10,000 USD Investment Level Opportunities:

1. 21.21% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.80% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 14.24% - ONyc, Solana, Exponent, September 10

4. 13.59% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 13.02% - ONyc, Solana, rate-x, September 29

100,000 USD Investment Level Opportunities:

1. 20.50% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.73% - USD3, Ethereum, Pendle, December 16

3. 17.50% - reUSDe (USDe), Ethereum, Pendle, December 9

4. 14.19% - ONyc, Solana, Exponent, September 10

5. 13.36% - 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.

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, within higher week-over-week APYs, by sUSD3 from 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. 19.86% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 18.69% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 18.42% - sUSDu, Solana, rate-x, July 29

4. 15.53% - ONyc, Solana, Exponent, September 10

5. 14.25% - sUSG (USG), Ethereum, Spectra, September 24

10,000 USD Investment Level Opportunities:

1. 19.55% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 18.66% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 16.67% - sUSDu, Solana, rate-x, July 29

4. 15.52% - ONyc, Solana, Exponent, September 10

5. 13.77% - nOPAL (USDC), Ethereum, Pendle, September 18

100,000 USD Investment Level Opportunities:

1. 18.60% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 18.35% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 15.45% - ONyc, Solana, Exponent, September 10

4. 13.46% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 11.86% - 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 Merkl campaigns to earn stablecoin-only yield on stablecoin-only liquidity:

1. 28.53% - USDT0, Provide liquidity to Uniswap msUSD-USDT0 0.05%, Plasma

2. 10.56% - USDp, Provide liquidity to Balancer USDp-eUSDC-3, HyperEVM

3. 10.00% - DOLA, Borrow USDC on sDOLA/USDC, Ethereum

4. 9.33% - BOLD, Provide liquidity to UniswapV4 BOLD-USDC 0.05%, Ethereum

5. 9.1% - USDp, Stake into the Curve frxUSDP gauge, Avalanche

*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.

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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 again 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. 18.49% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 18.37% - sUSDu, Solana, rate-x, July 29

3. 17.28% - reUSDe (USDe), Ethereum, Pendle, December 9

4. 15.96% - ONyc, Solana, Exponent, September 10

5. 13.95% - ONyc, Solana, rate-x, September 29

10,000 USD Investment Level Opportunities:

1. 18.41% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.28% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 15.95% - ONyc, Solana, Exponent, September 10

4. 15.62% - sUSDu, Solana, rate-x, July 29

5. 13.48% - ONyc, Solana, rate-x, September 29

100,000 USD Investment Level Opportunities:

1. 18.40% - sUSD3 (USDC), Ethereum, Pendle, December 16

2. 17.28% - reUSDe (USDe), Ethereum, Pendle, December 9

3. 15.68% - ONyc, Solana, Exponent, September 10

4. 12.90% - nOPAL (USDC), Ethereum, Pendle, September 18

5. 11.68% - 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.

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.