Tindorr🚢

Liquidity crunch on WLFI market again.
USD1 borrow cap maxed. USDC utilization at 98% and only ~11M left to withdraw.
Not sure if this has something to do with rsETH or Aave, but if you have USDC deposited there, pull it while there's still room.
No announcement from Dolomite or WLFI so far.

I regularly check yield strategies on @Infinit_Labs to explore how the best minds share ideas, then execute them in one flow.
Here are the best two I like so far:
1. PT apyUSD Looping by @kenodnb - 35% APY
apyUSD is yield-bearing stablecoin that accrues yield from collateral (mostly STRC) on @apyx_fi.
Base yield of PT apyUSD is 15.5% which is high enough to loop.
2. PT srNUSD Looping by @info_insightful - 16% APY
I like @Neutrl's NUSD yield model (OTC + delta neutral). The yield source still makes sense in this market.
PT srNUSD is sNUSD with Strata tranching and PT. I've been farming this for

What happened to TAO and Bittensor yesterday was a one-time event.
The damage is done.
From the moment I entered TAO ecosystem, something always felt off about one team running three incentive subnets at once (Templar/SN3, Basilica/SN39, and Grail/SN81).
Three separate streams of TAO emissions flowing to the same group raised flags for me.
I stayed away from staking into any of them. Glad I trusted my gut, even when many were hyping the "Claude-mentioned" subnet as one of the best.
Covenant could have exited gracefully: migrated their community, wound things down properly, and handed off resp

AAVE price is now back to 2022-23 range.
Is this a good buy? Depends on your view:
Bullish:
- Largest DeFi protocol by TVL (~$25B) at just $1.37B mc
- 95% unlocked, minimal sell pressure from vesting
- High expectation on V4 (major catalyst)
Bearish:
- Key contributors left (ACI, partners)
- Increasing operational risk
- V4 is an entirely new product with Aave tag
- V3 TVL will drop as liquidity migrates to V4
- V4 adoption/success is not guaranteed
- Morpho is gaining ground
Price is back to where it was before the last hype cycle. Either this is accumulation or a slow bleed.
Depends which si

Farming RWA yield through PT on @pendle_fi is still my favorite.
It's one-click and worry-free + limit order (LO) incentives make the PT price better
Here are 4 RWA PTs I rotated into:
1 - PT thBILL (7.1% APR) by @Theo_Network
thBILL is an institutional tokenized short-duration US T-Bills product (via partners like Libeara and Wellington). It captures near risk-free T-bill yields with some spreads.
I've been farming Theo's thBILL for months. So far it's great, and PT yield recently went back to the interesting level from LO incentives. T-Bill but 7.1%? I’ll take it.
2 - PT cUSDO (6% APR) by @O

Spent 10 days in Korea🇰🇷, and it was awesome.
What I'd tell anyone planning a trip:
- Mix cities. Seoul is great, but Jeju and Busan hit different.
- Also try roadtrip from Seoul to Gangneung, definitely worth it.
- Hike Bukhansan. 50 mins by metro from central Seoul and the views are unreal.
- Eat everything.
- Seafood in Busan and Gangneung is insanely fresh and cheap.
- Korean BBQ is not all the same either. Tried Ggupdang in Seongsu (Michelin Bib Gourmand)
- Stay in Hongdae if you want the vibes. Sleepless area with places to hang out even at 1am.
- Also stumbled into Yeonnam area by acc

Drift exploit reminds us to always diversify your portfolio
This was my port before the cleanup
Things to fix:
• Each allocation should stay below 5%
• Pendle-related concentrate risk is still too high imo
• Some have connected second-order risks
Dodged the bullet again this time. Always room to improve.

DeFi yield is moving beyond onchain funding rates.
The next frontier is yield from CME Gold futures markets.
Gold? Yes. Gold contango (future price > spot) is structural, driven by interest rates and cost of carry. The spread between spot and futures is delta-neutral yield waiting to be captured.
@Theo_Network is one of the first protocols to bring this onchain with thUSD:
- Long tokenized gold (thGOLD)
- Short gold futures on CME
- Pocket the basis spread.
Moreover, thGOLD itself earns ~2% from secured lending to gold retailers. Two independent yield sources stacked together.
I'm waiting to j

A lot of posts saying DeFi on Solana > DeFi on Ethereum/EVM
But:
• Ethereum TVL is 8x larger (over 10x if include L2s)
• Most institutional-grade DeFi lives in EVM
• Network effects like Morpho/Euler/Aave + Curve + Pendle attract new DeFi protocols to build on EVM
• New concepts are likely born on EVM first, before they get replicated on Solana (e.g. Pendle-style or Ethena-like protocols)
I think the most interesting one on Solana right now is RWA/stocks as collateral on money market.
What else?