🟡 Stablecoin Yield Update: Weekly Refresh! Since our last update, the biggest shift has been rate compression on the major lending venues, and the main driver looks like market deleveraging (loops getting unwound, borrows being repaid, utilization dropping). On Aave (ETH) this showed up very clearly: USDC supply TVL rose to 1340M (from 398M) while supply APY fell to 2.22% (from 4.15%), and USDT supply TVL increased to 2280M (from 1660M) with APY down to 1.9% (from 2.79%). Outside of Aave, we also saw incentive normalization: Morpho Gauntlet USDC Core (Arb) cooled to 3.7% (from 6.2%), and Fluid USDC (ETH) eased to ~4.2% (from ~6.3%). On the incentive-heavy tail, USD1 continued rotating venues—Kamino USD1 is no longer on our sheet, while Dolomite USD1 (ETH) softened to ~8.8% (from ~9.5%) as TVL grew to ~39M (from ~29M), consistent with reward dilution as deposits scale Not financial advice — DYOR always. #DeFi #RWA #Stablecoin #Yield #CianYieldlayer