AB Nexus

We’ve been running on-chain strategies for 3+ years. Across USD, ETH, and BTC. Through bull markets, bear markets, and everything in between. No yield chasing. Most strategies in DeFi fail for one reason: They chase yield without managing risk. Our approach has always been different: • Focus on risk-adjusted returns • Avoid fragile / unsustainable yield • Size positions based on risk, not APY • Continuously monitor exposure Today, we run 3 live vaults: USD → active stablecoin allocation ETH → risk-managed yield strategies BTC → structured yield on core holdings All positions are verifiable on-chain. The goal isn’t the highest yield. It’s about preserving capital and compounding it over time. If you’re allocating capital on-chain, that distinction matters more than anything. If you’re interested in how we approach allocation, feel free to reach out.

The Space rug just went nuclear. Raised ~$20M in presale as the next big competitor to Polymarket and Kalshi. Multiple TGE delays. Beta launched yesterday. $SPC token listed on Kraken, KuCoin and others today… then crashed 99% in hours. Presale buyers locked out while the chart got dumped. This is the 2026 launch playbook 👇

What if you could invest like someone smarter than you automatically, on-chain, without trusting them with a single dollar? That’s copy investing. And it’s nothing like what you’ve seen before

$292 million gone in minutes. Not because of a smart contract bug. Because of one single verifier node. Here's the Kelp DAO hack and what it actually means for your money 🧵

Stackit just got a full redesign. New UI. New features. Built for people who want to stack crypto without thinking about it every week. Here's what changed and why it matters 🧵

@Crypto_Zh0u @pendle_fi @alturax Nice! Pendle gets a lot more interesting once you start thinking about entry timing and how PT vs YT dynamics play out.

Just made my first ever @pendle_fi deposit 👀 Hope this gives me a good boost on @alturax's YieldRun rankings!

@Dougytrades Hard to disagree. Most people don’t really think about custody and smart contract risk until something actually breaks.

Another. I will repeat once again - GET YOUR ASSETS OFF ANY DEFI OR CEX. This is literally just the start.

@DeFiVoyager_X @boros_fi @pendle_fi Interesting setup, fixing the funding helps, but the real test is what the unwind looks like before expiry.

If your DeFi doesn’t look like this in 2026 - ngmi @boros_fi @pendle_fi

@pendle_fi @alturax @apyx_fi @saturn_credit @re @SierraIsMoney Fixed APY looks attractive but a lot depends on how stable those underlying yields actually are.

Who said fixed income has to be boring? Pendle has the best RWA yields in DeFi, with offerings for every risk appetite. Up to 18.54% Fixed APY, locked in at purchase, across gold vaults, insurance underwriting, private credit, preferred shares, and T-bill backed dollars.

@Jonasoeth Tranching makes risk easier to package and distribute but the underlying exposure is still the same, just held differently.

Strata keeps tranching on Vaults are exploding but still stuck in a one-size-fits-all model. TVL has grown from near zero to $15B+, with a path toward $60B+. But the core issue remains: - All users share the same risk profile - No customization for different risk appetites DeFi today is good at two things: risk assessment and risk mitigation. But it’s missing a critical layer: → risk transfer, which TradFi has mastered (insurance, structured products, tranching). That’s where @strata_markets comes in - Users can finally choose their own risk/yield profile. - Moving vaults from generic products → structured financial products. More importantly, Strata is building the infrastructure layer → any yield vault can be tranched (Yearn, Morpho, RWA, multi-strategy). Expansion focus includes: - Tokenized investment strategies (with MidasRWA as a key launch partner) - Multi-strategy vaults - Curated lending vaults (Morpho, Euler, Aave-style) - RWA yields (private credit, Treasuries, structured credit) - Non-USD yield strategies - Exotic / delta-neutral strategies (Ethena-like)

@thelearningpill You can usually tell when the yield disappears faster than the users. That’s when it was never real demand to begin with. Incentives bring users in, but they also teach them how to leave.

How incentive cliffs kill chains and protocols: 1) Emissions spike participation 2) Retention never becomes endogenous 3) Users learn to leave early 4) Protocol bleeds credibility 5) Yield wasn’t the problem - the incentives were Yet in DeFi, incentives become the main focus.

@kenodnb A lot of these work well individually .It gets more interesting once you start stacking them and thinking about how they behave on the way out.

It's never over, bro. Time to Farm Smart, Not Hard #91 🧵

@SachinHMx @DeFi_Andree @strata_markets @Ethena_Eco @ethena @aave @pendle_fi @StaniKulechov @gdog97_ @tn_pendle @unclegrandpa925 Exactly ! most strategies look great until you actually need to exit

@DeFi_Andree @strata_markets @Ethena_Eco @ethena @aave @pendle_fi @StaniKulechov @gdog97_ @tn_pendle @unclegrandpa925 Yield stacking is easy, managing unwind is the real game

Hack Multi-Layered Yield | Looping with Ethena x Strata x Pendle x Aave For any DeFi degens hunting for stablecoin yields, this is a combo you cannot afford to ignore We are now officially plugging @strata_markets into this powerhouse stack --- 1. @Ethena_Eco: Yield Engine Ethena remains the ultimate source of yield: Mint USDe → Stake sUSDe → Earn yield from funding rates + delta-neutral strategies. This serves as a stable and highly composable base yield 2. @strata_markets: Risk Tranching Strata was built to solve the "one-size-fits-all" nature of sUSDe. By depositing sUSDe/USDe into Strata, you receive two distinct tranches: > srUSDe (Senior): Lower risk, features a yield floor, and offers higher stability > jrUSDe (Junior): Higher risk, but captures the lion's share of the yield upside ⤷ Strata is doing an excellent job of filling the gap as many Pendle maturities approach expiry. Strata’s TVL has already surpassed $220M and is climbing fast. 3. @pendle_fi: Yield Tokenization Next is Pendle, where you deposit srUSDe (or sUSDe) to split it into: > PT-srUSDe: Purchased at a discount → Locks in a fixed APY until maturity > YT: For those looking to speculate on pure variable yield PT-srUSDe often offers more attractive fixed yields than PT-sUSDe, thanks to Strata’s unique tranching mechanism 4. @aave: The Leverage Layer Aave acts as the catalyst that makes the entire strategy explode: > Supply PT-srUSDe as collateral on Aave V3 (utilizing a dedicated eMode with LTVs as high as 90-94%) > Borrow stables (USDC, USDT, USDe, GHO, etc.) at low interest rates Loop: Use the borrowed stables to mint more USDe → Stake sUSDe → Deposit into Strata → Pendle → Repeat --- The Ultimate Yield Flywheel This strategy turns a single capital base into leveraged fixed yield with extreme capital efficiency, all while farming points for Ethena, Strata, and Aave incentives. The logic is simple: @ethena generates the yield → Strata tranches the risk → Pendle fixes the rate → Aave leverages the position. Key Benefits: > Fixed Yield: Protects you from the volatility of negative funding rates > High Leverage: Safely achievable via Aave’s eMode and dynamic oracles > Deep Liquidity: Easy to roll over positions at maturity > Multi-layered Farming: Earn points across multiple protocols Currently, this combo accounts for a massive portion of the Ethena-related TVL on Pendle and Aave With new maturities being onboarded and Aave expanding its capacity for PT-srUSDe, the flywheel shows no signs of slowing down.

@DeFi_Andree @strata_markets @Ethena_Eco @ethena @aave @pendle_fi @StaniKulechov @gdog97_ @tn_pendle @unclegrandpa925 The structure is powerful, but the part that gets tricky is how everything behaves once it’s all looped together. Works well in stable conditions, but things can unwind quickly when conditions change.

@phtevenstrong @USDai_Official The structure makes sense, but the risk profile shifts quite a bit as more capital moves into GPU loans. Curious how underwriting and liquidity hold up as utilization increases.

The expected APY of sUSDai is 12.17%. @USDai_Official is finally going from being a wrapped TBILL to becoming an AI-aligned, GPU-backed lending stablecoin protocol. And they already have >$600M in dealflow. Let me explain where that 12% expected comes from: Currently, USDai is 87% backed by PYUSD and 13% backed by GPU loans. The 87% gets the risk-free-rate (tbill yield) and the 13% gets between 10% and 15% depending on the loan. USDai has a max utilization of ~80% which means 80% of the PYUSD can be deployed into loans. At max utilization/deployment (20% PYUSD / 80% GPU Loans) the yield would be ~12%. But these loans can't happen in the snap of a finger. The loans can't be originated until chips are installed and they're third-party verified. However, there's already 64M escrowed which is about 18% of the TVL awaiting finalization. That alone should push the APY up a few percentages. Anywho, I have no affiliation with USDai, but I think this development is incredible and they definitely have PMF at the moment. Love to see it.

@thedefiedge A lot of these risks don’t show up in steady conditions They tend to surface when liquidity tightens or assumptions break especially around exits and underlying exposure

$400M has been lost to DeFi exploits in 2026. The 8 questions I ask before farming any managed yield product: #1 Hidden leverage or market exposure Is the protocol taking leverage with your deposits? Stream was managing $500M AUM on $160M of deposits. That math only works with excessive leverage. If a "stablecoin" is selling volatility or has any directional exposure, it's a hedge fund with a different label. #2 Real-time monitoring I'm paying a lot more attention to projects running Hypernative, Hexagate, or Chainalysis after Resolv. Automated threat detection and contract pausing would've mitigated a lot of that damage. #3 Audits and response to findings Multiple audits from different firms plus bug bounties are baseline. What matters more is how the team responded to critical findings. Nomad famously ignored Code4rena findings and got hacked for $200M. #4 First-loss protection Case by case, but for protocols with first-loss mechanisms (Avant, Royco, etc), who is protected, by how much, and under what circumstances? #5 RWA is higher risk Apart from sector leaders, I mostly avoid off-chain and RWA stables because I can't personally measure the counterparty risk. It's higher risk because the backing isn't onchain. #6 Backing and exposure Where does the yield come from? How are deposits managed? You're directly exposed to every underlying token and position the backing is deployed to. #7 Peg and redemptions How is the peg maintained? Are redemptions open or KYC-gated? How do the rules change in a crisis? #8 Liquidity How much DEX liquidity exists relative to circulating supply? This matters even more if the stable is borrowable on lending markets and redemptions are gated. One more thing: it's okay to leave yield on the table. Higher APY always has a price, you just don't see it until the protocol blows up.

Most risks don’t show up in steady conditions. They show up when liquidity tightens or assumptions break. That’s what we try to underwrite upfront.

Most DeFi strategies don’t fail because yield disappears. They fail because risk wasn’t understood in the first place. Yield is easy to find on-chain. What’s difficult is understanding how that yield behaves under stress. At AB Nexus, every allocation is driven by a structured risk framework. We evaluate each strategy across: • Protocol maturity • Liquidity depth • Strategy complexity • Oracle dependencies • Operational exposure These aren’t just checkboxes. They directly determine whether we allocate, how much we allocate, and how risk is managed over time. Most participants optimize for yield. We optimize for durability.

@MerlinEgalite @Morpho @Figure Bridging real-world credit onchain is powerful. The key is understanding how these exposures are structured and where they fit within an on-chain portfolio.

HELOCs will soon be made productive on @Morpho via PRIME from @Figure. What are HELOCs? Home Equity Lines of Credit: revolving, flexible borrowing secured by the home value. DeFi is no longer an isolated island; it’s now truly delivering solutions for real-world use cases.

The difference usually shows up after the first drawdown or liquidity shock. That’s where most strategies break.

We’ve been running on-chain strategies for 3+ years. Across USD, ETH, and BTC. Through bull markets, bear markets, and everything in between. No yield chasing. Most strategies in DeFi fail for one reason: They chase yield without managing risk. Our approach has always been different: • Focus on risk-adjusted returns • Avoid fragile / unsustainable yield • Size positions based on risk, not APY • Continuously monitor exposure Today, we run 3 live vaults: USD → active stablecoin allocation ETH → risk-managed yield strategies BTC → structured yield on core holdings All positions are verifiable on-chain. The goal isn’t the highest yield. It’s about preserving capital and compounding it over time. If you’re allocating capital on-chain, that distinction matters more than anything. If you’re interested in how we approach allocation, feel free to reach out.

@phtevenstrong @apyx_fi The yield looks attractive but it’s heavily dependent on assumptions around dividends and continued vesting The real risk shows up if those expectations change

apyUSD yields is up above 12% again on @apyx_fi. This is great news for YT $apyUSD holders and apyUSD loopers. Why is this the case: Apyx is increasing the yield by vesting more apxUSD into the contract. They can do this because they can calculate the additional dividend they'll be receiving at the end of the month based on their ex-dividend date STRC holdings. Loop Yields (@Morpho via @0xAlphaping): apyUSD/apxUSD (6x): 27% PY-apyUSD/USDC (6x): 37%