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Eight Fresh Stablecoin Plays Worth Your Attention
Finding the Next Aster: 5 High-Revenue, Un-Tokenized Perp DEXs
This article spotlights five high-revenue, yet un-tokenized Decentralized Perpetual Exchanges (Perp DEXs), focusing on their protocol revenue, technical features, and growth potential. These projects demonstrate genuine profitability amidst intense competition in the sector. edgeX: The High-Performance Contender edgeX set a new revenue record for Perp DEXs in September 2025, with cumulative revenue reaching $49.47 million, solidifying its position as the second-highest revenue generator in th...
Can PoL v2 Ignite a BeraChain Rally?
1. Core Breakthrough: From Mercenary Liquidity to Value Feedback Loop In a post-yield-farming world, the only question that matters is “how does a chain manufacture its own organic demand?” Berachain’s answer is to make the native token the first beneficiary of every unit of growth. Proof-of-Liquidity (PoL) v2 flips the old script. Instead of letting ETH/SOL-style gas tokens watch from the sidelines while DeFi protocols pocket the upside, v2 reroutes 33 % of all DApp-bribe incentives from BGT...
Can DeepSeek Stay Hot?
DeepSeek is set to face more pressure and challenges in the future. The race towards a universal model has just begun, and who will ultimately win depends on continuous investment in funding and technological iteration. · A headhunter responsible for sourcing high-end tech talent in the large model field told The Paper Technology that DeepSeek's hiring logic is not much different from that of other companies in the large model sector. The core label for talent is "young and high-potential," m...
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Stablecoins are no longer just “blockchain dollars.” With compliance and mass-adoption narratives in full swing, a new wave of yield-bearing, points-laden stablecoin projects is rolling out. Below are eight stand-outs—plus a few giants on the horizon—you can still farm.
1. cap – Fresh Yield on Ethereum Mainnet
What it is: Newly live protocol on Ethereum issuing $cUSD (USDC-minted) and yield-bearing $stcUSD.
Backing: $11 M raise (Franklin Templeton, Triton).
Points game: “Caps” season 1—mint $cUSD for Caps points (live for two weeks).
TVL: ≈ $15.5 M.
2. USD.AI – Credit for AI Hardware
What it is: Arbitrum-native stablecoin ($USDai) that lets AI firms borrow against GPU collateral.
Backing: $13.4 M Series A (Framework, Dragonfly, Arbitrum).
Points game: “Allo” campaign—mint for ICO allocation tickets, stake for airdrops (30-day lock).
Cap: $100 M deposit ceiling; 50 % already filled in beta.
3. Level – Curve-Ready USDC/USDT Wrapper
What it is: 100 % USDC/USDT-backed $lvlUSD plus yield token $slvlUSD.
Backing: Two rounds totaling $6 M (Polychain, Dragonfly, Flowdesk).
Points game: “XP” farms—deposit $lvlUSD or Curve LPs on Morpho to earn XP.
4. OpenEden – Tokenized T-Bills with an “A” Rating
What it is: RWA platform issuing $USDO (USDC/T-Bill mint) and $TBILL (each token backed 1:1 by short-term U.S. Treasuries).
Backing: Yzi Labs, plus Moody’s “A” rating on the underlying fund.
Points game: “Bills” campaign—7.5 % of $EDEN supply reserved for participants.
TVL: ≈ $300 M.
5. Falcon Finance – DWF’s Synthetic Dollar
What it is: DWF Labs’ $14 B TVL synthetic-dollar stack ($USDf / $sUSDf).
Points game: “Miles” system—earn badges and Miles via protocol interactions.
6. Perena – Multi-Stable Basket on Solana
What it is: $USD* collateralized by USDC, USDT, PYUSD on Solana.
Backing: $6.5 M across pre-seed & strategic rounds (Borderless, Susquehanna).
Points game: “Petals” rounds 1 & 2 done; next season rewards simply holding $USD*.
7. Noble – A Chain Purpose-Built for Stables & RWAs
What it is: Noble chain issues $USDN; $150 M Series A led by Paradigm.
Points game: Season 2 live—lock $USDN in points vaults (> $53 M already deposited).
8. Resolv – ETH-Delta-Neutral $USR
What it is: $USR is fully ETH-backed and perp-hedged.
Backing: $10 M seed (Cyber.Fund, Maven11, Coinbase Ventures).
Points game: Season 2 quests for points.
Bigger Waves on the Horizon
Plasma – Tether-backed Bitcoin L2 promising zero-fee stablecoin rails.
Arc – Circle’s new purpose-built chain for USDC, teased in its Q2 2025 earnings.
Tempo – High-throughput payment chain co-built by Paradigm and Stripe.
USD1 – Trump-linked WLFI’s compliant stablecoin on BNB Chain.
Stablecoins are becoming the front line where compliance, yield and user acquisition all collide. Farm the points, but keep an eye on the giants—they’ll decide where the liquidity flows next.
Stablecoins are no longer just “blockchain dollars.” With compliance and mass-adoption narratives in full swing, a new wave of yield-bearing, points-laden stablecoin projects is rolling out. Below are eight stand-outs—plus a few giants on the horizon—you can still farm.
1. cap – Fresh Yield on Ethereum Mainnet
What it is: Newly live protocol on Ethereum issuing $cUSD (USDC-minted) and yield-bearing $stcUSD.
Backing: $11 M raise (Franklin Templeton, Triton).
Points game: “Caps” season 1—mint $cUSD for Caps points (live for two weeks).
TVL: ≈ $15.5 M.
2. USD.AI – Credit for AI Hardware
What it is: Arbitrum-native stablecoin ($USDai) that lets AI firms borrow against GPU collateral.
Backing: $13.4 M Series A (Framework, Dragonfly, Arbitrum).
Points game: “Allo” campaign—mint for ICO allocation tickets, stake for airdrops (30-day lock).
Cap: $100 M deposit ceiling; 50 % already filled in beta.
3. Level – Curve-Ready USDC/USDT Wrapper
What it is: 100 % USDC/USDT-backed $lvlUSD plus yield token $slvlUSD.
Backing: Two rounds totaling $6 M (Polychain, Dragonfly, Flowdesk).
Points game: “XP” farms—deposit $lvlUSD or Curve LPs on Morpho to earn XP.
4. OpenEden – Tokenized T-Bills with an “A” Rating
What it is: RWA platform issuing $USDO (USDC/T-Bill mint) and $TBILL (each token backed 1:1 by short-term U.S. Treasuries).
Backing: Yzi Labs, plus Moody’s “A” rating on the underlying fund.
Points game: “Bills” campaign—7.5 % of $EDEN supply reserved for participants.
TVL: ≈ $300 M.
5. Falcon Finance – DWF’s Synthetic Dollar
What it is: DWF Labs’ $14 B TVL synthetic-dollar stack ($USDf / $sUSDf).
Points game: “Miles” system—earn badges and Miles via protocol interactions.
6. Perena – Multi-Stable Basket on Solana
What it is: $USD* collateralized by USDC, USDT, PYUSD on Solana.
Backing: $6.5 M across pre-seed & strategic rounds (Borderless, Susquehanna).
Points game: “Petals” rounds 1 & 2 done; next season rewards simply holding $USD*.
7. Noble – A Chain Purpose-Built for Stables & RWAs
What it is: Noble chain issues $USDN; $150 M Series A led by Paradigm.
Points game: Season 2 live—lock $USDN in points vaults (> $53 M already deposited).
8. Resolv – ETH-Delta-Neutral $USR
What it is: $USR is fully ETH-backed and perp-hedged.
Backing: $10 M seed (Cyber.Fund, Maven11, Coinbase Ventures).
Points game: Season 2 quests for points.
Bigger Waves on the Horizon
Plasma – Tether-backed Bitcoin L2 promising zero-fee stablecoin rails.
Arc – Circle’s new purpose-built chain for USDC, teased in its Q2 2025 earnings.
Tempo – High-throughput payment chain co-built by Paradigm and Stripe.
USD1 – Trump-linked WLFI’s compliant stablecoin on BNB Chain.
Stablecoins are becoming the front line where compliance, yield and user acquisition all collide. Farm the points, but keep an eye on the giants—they’ll decide where the liquidity flows next.
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