🔧 RWA Yield Trading

**Key Changes This Week:** - **USD1 venue swap**: Added USD1 on Dolomite (~9.5% APY, ~$29M TVL, incentive-driven); removed USD1 on Lista DAO due to risk and liquidity concerns - **Kamino USD1 caution**: Elevated yields remain reward-heavy, expect compression as deposits increase **Notable Rate Movements:** - Fluid USDC (ETH): Rose to ~6.3% from ~4.5%, TVL climbed to ~$366M - Aave USDT (ETH): Compressed to ~2.8% from ~3.5% *Not financial advice—DYOR always.*

Mantle Vault, a collaboration between Bybit and Mantle, grew from zero to $120M in assets under management within its first month. The platform prioritizes a clear hierarchy: **Security > Scalability > Sustainability > APY**. **Key operational principles:** - 3.5-year track record with zero security incidents and zero forced liquidations - Smart-contract automation handles frequent inflows/outflows and rebalancing - Critical transactions guaranteed within 12 blocks during network congestion - Risk engineering treated as first principle, not afterthought The platform's founder emphasized that building reliable onchain yield at scale requires different mechanics than managing small funds. As capital grows, viable yield sources narrow to battle-tested venues with deep liquidity. The system uses continuous monitoring, alerts, and failover protocols. During extreme market conditions, the platform coordinates with block builders to ensure strategy transactions execute when timing matters most. Mantle Vault routes funds into USDe/sUSDe on Aave, backed by Ethena's delta-neutral strategy. The team focuses on durable yield structures over short-term incentive spikes, expanding coverage through rigorous stress testing and conservative parameters.

CIAN launches **FBTC Yield Layer** in partnership with FunctionBTC, allowing Bitcoin holders to earn yield while maintaining BTC exposure. The platform routes Bitcoin into diversified on-chain opportunities including: - Lending protocols - Restaking mechanisms - DeFi reward flows This solution addresses the common problem of Bitcoin sitting idle in cold storage by putting it to work across multiple yield-generating strategies. [Explore FBTC strategy](https://yieldlayer.cian.app/vaults/0x8D76e7847dFbEA6e9F4C235CADF51586bA3560A2?chainId=1)

**USDE strategies spotlight** reveals new yield opportunities through Pendle's Principal Token system. Key strategies include: - **PT-USDe on Plasma** (15JAN2026): 5.59% APY with 3.03% borrow cost - **PT-srUSDe on ETH** (15JAN2026): 7.91% APY with 6.99% USDC borrow cost These strategies use **borrow loops** to amplify returns through fixed APYs tied to specific maturity dates. The approach provides diversified yield farming options but comes with important considerations. **Key risks to consider:** - Early redemption can significantly reduce effective returns - Borrow costs must be factored into net gains - Maturity dates create time-locked commitments Most other stablecoin yield strategies showed only minor numerical adjustments this week, with TVL changes reflecting normal market flows. No major protocol additions or deletions occurred. *Always research thoroughly before investing - this is not financial advice.*