DeFi Tiger

Aave V3 sits in its own revenue tier. Over the last 365 days, it generated more revenue than the rest of the lending protocols shown here combined. That gap is not random. Revenue is where liquidity, usage, risk, and distribution show up in one number. Most lending markets are still fighting for share. @aave is already the credit layer DeFi routes through. Data via @DefiLlama

@ourcryptotalk @bittensor What does TAO killing zombie subnets mean?

$TAO has started to kill zombie subnets. No product, no roadmap, no inflows → no rewards. This not only means a killshot for the zombie subnets but a positive for the actual builders in the @bittensor ecosystem. We ranked the network subnets across three lenses 👇 ➠ REAL DEMAND S — · Chutes (SN64) A — · Targon (SN4) · Taoshi/PTN (SN8) · Dippy (SN11) · OpenKaito (SN5) B — · Lium (SN51) · Apex (SN1) · Nineteen ai (SN19) · Compute Horde (SN12) · BitMind (SN34) · Score (SN44) · Synth (SN50) · Data Universe (SN13) · Desearch (SN22) C — · Ridges AI (SN62) ➠ CAPITAL FLOW S ($50M+) — · Chutes (SN64) · Targon (SN4) · Lium (SN51) · Affine (SN120) · Score (SN44) A ($20–50M) — · PTN (SN8) · Templar (SN3) · iota (SN9) · Gradients (SN56) · Hippius (SN75) · Ridges (SN62) · NOVA (SN68) B ($10–20M) — · 404-GEN (SN17) · OpenKaito (SN5) · FakeNews (SN66) · BitMind (SN34) · OMEGA Labs (SN24) · Nineteen (SN19) · Bitcast (SN93) · Vidaio (SN85) · Dippy (SN11) · Apex (SN1) · Synth (SN50) · τaos (SN79) C ($5–10M) — ~33 subnets (WebGenieAI, grail, Dojo, Graphite, Omron, Zeus, Sturdy, Coldint, BitQuant, basilica, Sportstensor, Bettensor, RedTeam, SubVortex, Desearch…) ➠ DURABILITY (team, funding, track record) S — · Targon / Manifold Labs · Chutes / Rayon Labs (real revenue, 1,000+ commits) A — · Macrocosmos (SN1/SN19) · Taoshi/PTN (SN8) · Lium (SN51) · OpenKaito (SN5) · Data Universe (SN13) B — · BitMind (SN34) · Synth (SN50) · Compute Horde (SN12) · Gradients (SN56) · Score (SN44) · Sportstensor (SN41)

@BingXOfficial Reminds me of old trading software I used years ago.

86 drawing tools. 108 technical indicators. 16 candlestick styles. Everything you need to read the market your way. BingX Ultra TradingView is now live.

@Toadster69 @0xPanu XD very funny broXD

@0xPanu bro why XD

chog finally introduced killer app on monad now we going to billions try it here: pfp.chog.xyz

@cryptobroforeve Monad revolutionizes the blockchain landscape completely.

Monad is the Lionel Messi of blockchains. Fast, technical, smooth under pressure… good luck stopping it. Some chains play the game. Monad changes how the game is played.

@Karamata2_2 Is $10B from who actually?

🔥 Crypto cards are becoming one of the strongest real-world use cases in the industry. What once looked like a niche product has evolved into a payment network processing billions of dollars in everyday spending. The growth has been remarkable. Since March 2023, total spending across leading crypto cards has now exceeded $10B, with adoption accelerating faster than ever. A few numbers stand out: - The first $1B took nearly 2 years to reach. - The following $9B arrived in just 17 months. -  Half of that volume ($5B) was generated in the last 7 months alone. -  Average transaction size sits around $419. - More than 23.9 million lifetime transactions have already been processed. That tells me crypto is steadily moving beyond speculation and becoming part of everyday payments. Here's how the leading crypto cards rank by total spending: 🥇 @RedotPay - $6.09B (~61% market share) 🥈 @KASTxyz - $1.54B 🥉 @ether_fi - $1.12B 4️⃣ @Cypher_HQ_ - $203M 5️⃣ @gnosispay - $179M 6️⃣ @holyheld - $172M 7️⃣ @Karta_Personal - $153M 8️⃣ @useTria - $115M With stablecoin adoption accelerating and more users choosing to spend crypto instead of simply holding it, crypto cards could become one of the biggest bridges connecting on-chain assets with everyday commerce over the next few years.

@Cointelegraph 20% of workforce cut raises concerns about Ethereum Foundation's future.

🚨 JUST IN: Ethereum Foundation announces a new structure, cutting roughly 20% of its workforce.

@stacy_muur @SonicLabs Engineering team still has meaningful work.

3 major board members are leaving @SonicLabs: → Andre Cronje → Michael Kong → David Richardson And while the resignations are unfortunate, the timing matters even more because this is happening while price, TVL, and sentiment are already weak ( $S is trading about 97% below its ATH ). Feelsbadman, but I don’t think this means Sonic is dead. The engineering team is still active and Sonic said around 400 meaningful code updates were merged in 2026, so they are def still kicking from the dev side. However, it does mean Sonic now has to rebuild confidence without its strongest public technical figure: Andre Cronje. I’m curious to see the rebound here, TBH, this is usually the part of the market where winners are made anyway.

@andrewmoh @Backpack @solana @BitGo @Anchorage @Securitize Backpack Securities is indeed a rising tokenizing platform.

Hey, do you think @Backpack Securities is the slingshot of tokenizing platforms on @solana? I'm taking a look back at the RWA league on Solana, and here are the leaders: + @BitGo with USD1 as the flagship + @Anchorage with USDGO + @Securitize with BUIDL, STAC + Ctrl Alt with private equity + @HastraFi with PRIME + @centrifuge with corporate credit and more. However, Backpack Securities onboard something different - tokenized stocks, rising due to the massive launch of $SPCX. Backpack and @sunrisedefi ensure tokenized stocks on Solana enter the seamless trading UX - which is the most powerful trait that users love on Solana. Also, as a top wallet on Solana, Backpack helps with on-off-ramp for users' funds. Thus, I have reason to believe that Backpack Securities is the sling-shot for RWA on Solana.

@LisaFlorentina8 @bittensor @Bitcoin Makes sense to keep it centralized.

BITTENSOR ISN’T FULLY DECENTRALIZED AND THAT’S THE RIGHT MOVE ⚡️ @bittensor isn’t @Bitcoin. Not yet. The team is intentionally keeping a strong hand on the wheel during this critical building phase. While rapid iteration continues across major upgrades (Kusanagi → Nakamoto → Finney → Dynamic → Flow), they prioritize shipping real progress over premature decentralization theater. The foundation is already solid: no pre-mine, permissionless subnets, and one of the cleanest token distributions in crypto. The remaining pieces ~ validator competition, symmetrical liquidity, and removing extractors ~ are being actively fixed. Personal take: This is exactly why I’m extremely bullish on $TAO. The team is building a legitimate long-term intelligence network instead of chasing fake decentralization metrics. When they eventually hand over full control, the system will actually be strong enough to survive without them. Blue skies ahead for $TAO.

@DefiLlama How do you display financial metrics now?

Introducing Equities on DefiLlama. We now track price, market cap, volume, earnings, and other financials for over 3,000 tickers. TradFi metrics are framed and presented in a way that will be familiar to crypto investors. Built by crypto-natives for crypto-natives.

@Ichigo19882 @monad How are the monad cards looking?

for all of you who are blind look what is in @monad last tweet! monad cards sooooon

@Kaffchad Stunning data, well-analyzed indeed.

Everyone think that Prediction market is currently a money printing machine but I think it is difficult to maintain for long because users cannot make money from it according to the on-chain analysis of more than 2.5 million wallets on #Polymarket then > 84% of accounts are currently in loss > Only 2% have earned more than $1.000 in the entire trading history. > Only 0.033% have earned $100.000 or more. → This is the game of insider, not for retailers The flywheel is dying: retailers lose money → liquidity weakens → volume decreases → the end of PM The numbers don’t lie!

@KazumaxCrypto ポイントブーストが期待できそうです。

🐣Tori Financeのプレデポがオープンした！ 入れてみた理由🧵 ・Pre-depositはポイント最大ブースト対象で、早期参加者優遇かも？👀 ・Delphi backed の新興ステーブル利回り系プロトコル ・DeFiではなく、新興国市場のキャリートレ、MM、先物アビトラなどでリアルイールドを狙う設計 + Fxリスクヘッジ ・想定リアルAPYは現時点で8〜10%前後 ・ポイントインフレをかなり意識していると明言しており、後発の希薄化を抑える姿勢 ・RockawayXがCurator、Upshiftインフラ利用、マルチシグ＋タイムロック＋監査もあり、安全設計は意識されている ・ただしオフチェーン運用、FX、新興国市場でこれなりのイールドはこれなりのリスクはあるので、NFA。 個人的には早期ポイント × リアルイールド × Delphiバックの組み合わせに惹かれて入れました。

@0xNairolf More collectibles onchain, better distribution, speculation.

tokenization is so interesting because its been around for years and still feels like it has a lot of juice left (i) double down on what's already working > more collectibles onchain > better distribution for tokenized stocks > stablecoin experiments (ii) and keep looking for the next category to tokenized that has > attention > speculation > cultural relevance pretty sure 90% of the most fees generating businesses crypto will produced will be around tokenization

@elfa_ai @GMX_IO Elfa's strategy will crush GMX Masters competition.

Set your strategies, sleep, and wake up to $5000. GMX Masters is live. $15,000 in prizes to be won. Trade your way to the top with Elfa and @GMX_IO. Sign up now: go.elfa.ai/gmx-masters-x More info on how it works below (an extra $200 ticket is hidden in the thread)

@pendle_grandma @boros_fi @pendle_fi @PendleIntern @0xanonnnn 固定利率多少钱?

🥳奶奶的Boros策略学习分享笔记： 周末看盘，@boros_fi 上有两个机会很值得研究一下: 37天拿12%-18%的APR。 套利小能手们看过来！ ---------------------🍲上前菜🍲---------------------- ▶️先说说Boros是什么？ Boros由Pendle团队开发的新平台，去年8月上线。 Boros沿用传统金融IRS的模型，建立在永续期货资金费率之上，来做利率互换的交易。 Boros的存在让你不用扛资金费率的每日波动，而是可以通过YU锁定固定利率。 📍运行方式： 拿BTC市场举个例子，在 Boros 开仓，就等于锁定了整个期限的固定 APR。协议会在每个结算点（Hyperliquid 每小时结一次，币安等 CEX 每 8 小时结一次）把“固定利率”和“实际浮动利率”的差额结算给你。 📍保证金：和perp dex不太一样，Boros是看“利率敏感度（Rate Sensitivity）”类似传统金融的 DV01的计算方式。简单来说：隐含 APR 每变动 1%，你的头寸会亏/赚多少钱。 -------------------🦞主菜开始🦞--------------------- 💰交易一：BTC 市场：BTC / 2026年7月31日 距离到期日：37天 - BTC 31 Jul 26 — spread 4.90% APR - Short: HL (4.16%) - Long: Kucoin (-0.73%) Market order on one: 4.58% @ $1M Market order on both: 4.07% @ $1M 4% spread = ~12% APR 📍Boros的BTC深度是足够的。在Boros上开设名义价值为100万刀的仓位，如果一条腿限价单成交，另一条腿直接市价吃单，只会产生32bps的磨损，此时有效利差为4.58% APR；即使两条腿都是市价吃单，有效利差依然能够保持4.07% APR； 📍Boros的YU自带高杠杆。只需要很少的保证金，就可以轻松将两个平台的隐含APR利差放大至约12% APR； CEX侧的保证金是大头。如果杠杆率太高会有爆仓风险（例如20x杠杆下，底层资产BTC的价格波动超过5%就会爆仓），用户需要根据自己的风控能力控制杠杆率，一个小trick，可以像之前宽哥 @yourQuantGuy 介绍的借助Gate的CrossEx工具将CEX侧的杠杆率放大，爆仓风险相对小，因为BTC这种大蓝筹基本不会出现太离谱的跨CEX价差 💰交易二：HYPE市场：HYPE / 2026年7月31日 距离到期日：37天 - HYPE 31 Jul 26 — spread 5.94% APR - Short: HL (8.83%) - Long: Bybit (2.89%) Market order on one: 5.19% @ $1M Market order on both: 5.32% @ $500k 5% spread = ~18% APR 📍滑点与规模： 100 万刀规模下单侧吃单是 5.19% APR；但有趣的是，如果规模控制在 50 万刀且双侧市价执行，净利差反而能达到 5.32% APR。这是因为在这个体量下，Bybit 的市场冲击较小，利差没怎么被压缩。 📍杠杆： 同样在 10 倍杠杆下，5% 的基础利差可以转化为大约 18% 的资本 APR（同样躺赚 37天）。 HL的 HYPE的资金费率数据本身还是蛮值得单独拿出来研究的，HL市场对HYPE结构性做多，程度足以将费率锁定在最大值。这里可以自己延伸一下对比其他交易所HYPE的资金费率趋向做策略和风控。 ⚠️既然是套利，就不是零风险，核心在于利率风险： - 如果 Hyperliquid 的 BTC 费率直接崩到 0 且起不来，或者 KuCoin 的费率突然暴涨变成正的，那利差就会收缩甚至反转。 - 这时候就要看 Boros 的“利率敏感度”指标了。比如你的头寸利率敏感度是 1000 刀，意味着隐含 APR 每往不利的方向变动 1%，你就浮亏 1000 刀- 可以根据这个调整仓位。 -对于能够通过prime broker获得“组合保证金”服务的traders（譬如之前提到的 GATE的CrossEx）可以大幅度提高资金效率。组合保证金允许在这些结构上实现高达15倍的有效杠杆，将HYPE交易在37天持有期内推高至部署资本上超过20%的APR。目前我还没有测试过，期待有兴趣的同学分享更多。 通过Boros进行的资金费率套利对于有经验的traders来说并不会很复杂。在10倍杠杆下，37天内能实现12-18% APR在目前的市场是很难得的机会。 ------------------🍰饭后小甜点🍰-------------------- 有意思的是，跨所套利者在Boros上扮演的角色很像Pendle的PT，他的对手方的角色很像YT。这样Boros就不再是单纯的PVP单纯压铸FR的走向，而是系统性跨所套利策略和对手方的双赢。 最后的最后，任何交易都是有风险的，Boros的套利策略更适合对于风控和交易有经验，并且有一定资金体量的同学。 任何人分享的策略都需要自己严格把控个方面风控，对自己的钱负责。 感谢我们家温柔的 @0xanonnnn Pendle 大使帮我校对中文表达能力，会继续努力学习进步的。 🥳邀请码（免10%交易费用）： boros.pendle.finance/join/88888

@roarnads @ChogNFT You should become that ChogNFT immediately.

Chog morning! You should turn yourself into @ChogNFT now!

@josefabregab @chainlink That's a clever risk management.

FTF is indeed a different risk profile than waiting for full finality (traditional @chainlink CCIP), but it's not simply "execute before finality and hope for the best." Fast transfers are facilitated through a Fast Transfer Token Pool that provides liquidity before final settlement occurs. If the source chain transaction reaches finality, the transfer settles normally. If it doesn't, the system has mechanisms to account for the shortfall rather than leaving permanently unbacked assets on the destination chain. The tradeoff is also opt-in. Applications can choose whether to use FTF or continue waiting for full finality, but the architecture is specifically designed to manage pre-finality risk. A fair comparison is @LayerZero and @Wormhole, not traditional CCIP. All three are ultimately trying to solve the same problem: reducing settlement times while maintaining acceptable security guarantees. However, Chainlink still have some strong safeguards such as RMN and economic limits, besides it being an opt-in mechanism. Hence, I think that it can tap into a way broader segment, as latency-sensitive use cases/protocols were previously dominated by LZ, Wormhole, and faster messaging protocols. That changes now.

@be_kindplss What's the practical application of this concept?

Monad

@crypto_linn Es un gran logro.

Hola Mi Amore ❤️ Pendle Le Highlights: - Pendle celebrates its 5th birthday x.com/pendle_fi/stat… - Pendle is now live on Monad x.com/pendle_fi/stat… - 10 Reasons you should be bullish Pendle x.com/PendleIntern/s… - Pendle among the top protocols based on 7D revenue growth x.com/DefiLlama/stat… - Fixed Yield on Sky (built with Pendle) crosses $50M x.com/SkyMoney/statu… - Pendle x Aave upcoming updates x.com/pendle_fi/stat… Top Incentivized Pools: - [ETH] sUSDS 26-NOV | $30.0K/week YT - [ETH] sUSDD 27-AUG | $29.9K/week YT - [ETH] USDG (Global Dollar) 24-SEP | $12.6K/week YT - [MON] agoraAUSD 08-OCT | $50k/week YT | $2.5M TVL · new on Monad - [MON] earnAUSD 08-OCT | 335k $MON/week YT | $2M TVL · new on Monad Top Stablecoin Fixed APYs: [ETH] PT-Strata Sr USDat 27-AUG | 12.13% | $7.4M TVL · loopable on Morpho [ETH] PT-USD3 17-DEC | 12.07% | $13.8M TVL · loopable on Morpho [ARB] PT-sUSDai 15-OCT | 8.57% | $49.6M TVL · loopable on Euler, Lista Le Boros Highlights: - New Limit Order incentives x.com/boros_fi/statu… - 30% Fixed APY through cross-chain arbitrage x.com/pendle_fi/stat… - What are maker and taker fees x.com/PendleIntern/s… aaaand ze Pendle Print #119: x.com/pendle_fi/stat… (tasty one) dc: linn is a tier 1 kol supreme for pendle