Yearn.finance price

"For everyone and every company, the key is to build your own barriers." Imagine if we really end up with nothing left. Do we still have the ability, the trump card, to start over? So, for us old investors who can't leave crypto and can't make big money, we have only one goal: 1/ To become "super retail investors" in the market 2/ To become "super individuals" in life The best at achieving this in the last round was Andrew Kang, and now he has made a glamorous turnaround.

➥ Is Fixed-Rate Protocols the Future of Finance? DeFi yields are powerful but unpredictable. One day you earn 30%, the next it drops to 5%. Fixed-rate protocols are revolutionizing the game with stable, on-chain tradable yields, possibly the only DeFi product primed for immediate mass adoption. Let’s look at the projects leading this shift in our 30s report 🧵 — — — ► What Are Fixed Rate Protocols? Fixed-rate protocols bring stability to DeFi by turning volatile yields into predictable returns. They tokenize, strip the yield or benchmark yield-bearing assets so users can lock yield. This brief report covers four projects leading the fixed-income shift: ▸ @pendle_fi ▸ @spectra_finance ▸ @ipor_io ▸ @TreehouseFi — ► Pendle Pendle is a yield-trading AMM that splits yield-bearing assets into two tokens: ▸ PT: fixed income ▸ YT: variable yield It lets users trade yield itself instead of just staking or lending. ➤ Core Mechanic When users deposit a yield asset like $sUSDe, Pendle mints PT-sUSDe (redeemable at maturity) and YT-sUSDe (captures yield). Users can hold PTs for stable returns, trade YTs to speculate, or pair both for liquidity rewards, all without liquidations or lockups. ➤ Why It Matters It turns yield into a tradable market and enables strategies like points farming and arbitrage, integrating with @aave, @ethena_labs, and @MorphoLabs across major chains like @ethereum, @arbitrum, and @base, with TVL around $6.5B as of October 2025. ➤ Example ▸ sUSDe pools offer ~20% fixed yield ▸ @Plasma launch drew $318M TVL in days — ► Spectra Spectra brings yield stability to DeFi, letting users lock fixed returns or hedge rate volatility. ➤ Core Mechanic It supports ERC-4626 tokens like $csUSDL and $USR. Deposits mint two tokens: ▸ PT: fixed yield ▸ YT: variable yield Users can: ▸ Hold PTs for steady returns ▸ Trade YTs for exposure to rate changes ▸ Provide both in liquidity vaults for rewards Anyone can create custom pools, making the system fully permissionless. ➤ Why It Matters Spectra offers predictable income and shares 50% of revenue with stakers. Live on @avax, @SonicLabs, and Base with about $190M TVL as of October 2025. ➤ Example ▸ Fixed-rate $USDL pools offer 20%+ APY ▸ Expansion to Flare boosted liquidity — ► Fusion by IPOR Fusion brings interest rate swaps to DeFi, letting users hedge or speculate on rate movements with leverage and automation. ➤ Core Mechanic Fusion uses on-chain IPOR Indexes to price interest rate swaps and automate yield strategies. Users can: ▸ Enter swaps, paying fixed or receiving floating with leveraged exposure ▸ Use srUSD vaults to automate yield optimization across protocols ➤ Why It Matters Fusion blends DeFi yield aggregation with institutional-grade rate tools, offering risk-adjusted fixed returns without impermanent loss. Live on Ethereum, Arbitrum, and Base, with around $70M TVL as of October 2025. ➤ Example ▸ $srUSD vaults deliver 20%+ APY through automated swaps — ► Treehouse Treehouse builds benchmarks and infrastructure for fixed income in DeFi. It introduces: ▸ tAssets: enhanced LSTs like $tETH and $tAVAX ▸ DOR: on-chain rate benchmarks such as TESR for Ethereum staking ➤ Core Mechanic It uses MEY (Market Efficiency Yield) arbitrage to align staking yields toward risk-free levels. Users can stake, delegate to DOR operators, or integrate with protocols like TermMax for fixed borrowing. Live on Ethereum and Avalanche with $500M+ TVL and over 70K wallets as of October 2025. ➤ Why It Matters Treehouse standardizes yields for DeFi’s fixed income layer and enables tools like FRAs and fixed-rate markets. Integrations include @FalconXGlobal and @TermMaxFi. ➤ Example ▸ TESR benchmark underpins FRAs launched by FalconX ▸ TermMax uses DOR rates to offer fixed borrowing on LSTs — ► Wrap-Up Stablecoins gave DeFi a way to store value but not to grow it. Fixed-rate protocols changed that by making yields predictable and tradable. Pendle, Spectra, Fusion, and Treehouse each drive this shift: ▸ Pendle makes yield a tradable market ▸ Spectra locks stable returns through derivatives ▸ Fusion brings interest rate swaps on-chain ▸ Treehouse standardizes LST yields with benchmarks Together, they build DeFi’s fixed-income stack, where capital earns steady returns and stability meets growth.