Unless explicitly mentioned, there is no collaboration with the projects mentioned in this edition.
GM frens,
Another week, and it’s still not really a green one.
While prices have been volatile, the underlying fundamentals continue to strengthen. Inflation data from the U.S. came in better than expected, giving markets a brief boost, but uncertainty still looms. Investors are eyeing the upcoming FOMC meeting and Jerome Powell’s comments for further direction. We should remember that this is a market crash, not a crypto crash.
Caution remains the dominant sentiment. The recent price action reminds us that, despite long-term optimism, the short term is full of traps. Without clear catalysts, speculative assets remain highly volatile.
Managing risk, protecting capital, and sleeping well at night should be the priority.
But even in uncertain times, some sectors continue to thrive.
Stablecoins are the backbone of the crypto economy. They represent 40% of DeFi’s total value locked (TVL) and dominate trading volumes across centralized and decentralized exchanges. Even in a market downturn, stablecoins provide liquidity, stability, and a crucial on-ramp for new capital.
The demand for stable, on-chain dollars is only growing, especially as global regulations shift in favor of stablecoin adoption. Indeed, USDT onchain activity just hit a 6-month high—traders might be gearing up to buy the dip. With buying power on the sidelines, a market rebound depends on macro conditions, regs, and sentiment.
Just last week, the U.S. Treasury Secretary reaffirmed the country’s commitment to leveraging stablecoins to maintain dollar dominance. A new stablecoin bill is expected soon, bringing regulatory clarity that could accelerate institutional adoption.
But not all stablecoins are created equal. Some are fully backed by cash reserves, while others rely on debt instruments or algorithms. As the market expands, so do the risks—ensuring transparency and auditing practices will be key for long-term trust.
With the world shifting toward digital assets, stablecoins are emerging as a critical financial instrument, bridging the gap between crypto and traditional finance.
The question isn’t whether stablecoins will grow—it’s how fast.
Before we dive in this Week’s Newsletter
I must remind you that I curate CT Content on X. Find new projects early. Don’t miss anything.
Case Study on Stablecoins: Examining how stablecoins are shaping the crypto landscape, driving liquidity, and serving as the backbone of decentralized finance.
Main News of the Week.
Zoom on Level & Resolv: Analyzing how these stablecoin protocols enable users to generate yield and farm points.
Mantle, in collaboration with Bybit, has launched Mantle Surge, a campaign designed to reward users with a share of 1,000,000 $MNT for engaging with the Mantle ecosystem. Spanning multiple projects and applications, this initiative offers opportunities for both seasoned users and newcomers to explore Mantle’s DeFi landscape while earning rewards.
Nine projects are participating in the campaign: AGNI, Merchant Moe, Lendle, Funny Money, INIT Capital, Function FBTC, Party Icons, mETH Protocol, and Spot Zero. Users can complete various tasks and quests across these protocols to earn tokens and gain exposure to Mantle’s expanding ecosystem.
Product Innovations
1. Layer3 Quests – Gamified Engagement with Mantle
The campaign includes Layer3 Quests, allowing users to complete tasks and earn lottery tickets for a chance to win a share of 300,000 $MNT. The process includes:
Welcome Quests: Simple off-chain tasks to introduce users to Mantle, granting 1 ticket.
One-time On-chain Quests: Engaging with participating protocols earns 2 tickets per task.
Recurring Quests: Daily repeatable tasks for additional tickets.
Participants who complete quests will be able to mint a corresponding Cube, which serves as their entry into the lottery draw at the campaign’s end.
2. Bybit x Mantle Surge – Expanding DeFi Opportunities
A larger 700,000 $MNT reward pool is allocated to users who complete quests on Bybit, boosting engagement across both platforms. To participate, users must:
Complete Bybit-Mantle Surge quests.
Accumulate “Wishes”, which can be redeemed for additional rewards.
Bybit users also gain exclusive rewards, including a bonus pool of 300,000 $L3 tokens for the first 3,000 users collecting 25 Wishes. Additionally, Bybit has increased its Launchpool staking limits for $MNT, reinforcing Mantle’s presence within Bybit’s ecosystem.
3. Bybit Launchpool – Staking for PELL Tokens
Bybit launched 3 Launchpool events this week and $MNT has continuously been one of the participation tokens.
On Bybit Launchpool, you can stake PELL, MNT, or USDC to earn PELL tokens :
PELL Pool
Total Rewards: 4,000,000 PELL
Minimum Staking Amount: 1,000 PELL
Maximum Staking Amount: 200,000 PELL
MNT Pool
Total Rewards: 6,000,000 PELL
Minimum Staking Amount: 100 MNT
Maximum Staking Amount: 10,000 MNT
USDC Pool
Total Rewards: 10,000,000 PELL
Minimum Staking Amount: 100 USDC
Maximum Staking Amount: 2,000 USDC
Bybit has also increased the Launchpool staking limits from 5,000 to 20,000 MNT for VIP users and 10,000 MNT for non-VIP users.
Treasury/Financial Overview
Mantle’s approach aligns with the broader trend of integrating DeFi into traditional financial and trading platforms:
Bybit continues to expand its Launchpool events, regularly featuring MNT as a staking token.
Bybit has increased MNT staking limits (from 5,000 to 20,000 MNT for VIP users, 10,000 MNT for non-VIP users).
Launchpool participants can stake MNT, PELL, or USDC, reinforcing MNT’s growing role within the ecosystem.
These developments position Mantle as a key player in driving adoption through strategic collaborations and user-centric rewards programs.
Conclusion: Why This Matters
Mantle Surge is a pivotal step in expanding DeFi adoption, offering users a dynamic way to explore and earn within Mantle’s ecosystem. By bridging engagement between Layer3 Quests and Bybit’s DeFi incentives, Mantle is creating a more interconnected and rewarding experience for users.
With Mantle’s ecosystem growing and its integration with Bybit deepening, initiatives like these highlight the increasing synergy between DeFi and centralized platforms. As crypto continues to push toward mass adoption, Mantle is positioning itself at the forefront, offering both accessibility and innovation.
Stablecoins have long been the backbone of the crypto economy, serving as a crucial bridge between traditional finance and blockchain-based applications.
They are the first working example of RWA’s, tokenizing dollars and bringing real utility. Indeed, stablecoins provide liquidity, enable seamless trading, and offer a reliable store of value in an otherwise volatile market. However, despite their significance, the stablecoin landscape is undergoing a profound transformation, driven by regulatory pressures, evolving market demands, and technological advancements. This shift is redefining the role of stable assets and paving the way for new models that promise greater decentralization, efficiency, and resilience.
Even as the larger crypto market faces notable challenges, stablecoins are seeing substantial expansion and acceptance.
The total market cap for cryptocurrencies has dropped by 16% ($440B) year-to-date. Regardless, stablecoins in circulation have surged by 8% ($14B), consistently rising almost every week since September 2023, reaching unprecedented heights of over $227B.
Stablecoins Reach a New ATH: The Only Up-Only Technology
The stablecoin market continues its upward trajectory, achieving a new all-time high. Unlike speculative crypto assets, stablecoins thrive in all market conditions.
In a bear market, stablecoins effectively act as a bullish force. As crypto prices drop, demand for stablecoin-denominated transactions rises.
"Prices down" simply means "dollar up," benefiting on-chain issuers of stablecoins, especially as regulatory frameworks become more favorable.
Why Are Stablecoins So Important?
Stablecoins underpin most crypto trading activities, both on centralized and decentralized venues.
>90% of order book trades and >70% of on-chain settlements are executed in stablecoin pairs.
In 2024 alone, stablecoins settled >$12 trillion on-chain.
Two out of the top ten largest crypto assets by market cap are stablecoins.
Stablecoins represent >40% of DeFi TVL, making them the most utilized assets across decentralized lending and trading platforms.
They’re also crucial for taking profits or holding crypto assets without experiencing volatility (apart from the currency's own). Stablecoins are the entry AND the exit point of the crypto market.
Projected Market Growth: From $227B to $3T?
AllianceBernstein, a leading asset management firm ($725B AUM), projects that stablecoin market cap will reach $3 trillion by 2028.
Current stablecoin market cap: $227B, reaching a new ATH in March.
This suggests a 1350% potential increase, making stablecoins one of the highest-growth areas in crypto.
The Evolution of Stablecoins
The concept of stablecoins emerged as a direct response to the extreme price fluctuations of cryptocurrencies. Early stablecoins, such as Tether (USDT), were primarily backed by fiat reserves, ensuring a 1:1 peg to the US dollar. However, questions regarding transparency, centralization, and the adequacy of these reserves led to the emergence of alternative models that sought to improve stability, decentralization, and risk management.
Fiat-backed stablecoins (e.g., USDT, USDC, BUSD) remain the dominant category, with issuers holding reserves in traditional financial institutions. While they offer deep liquidity and regulatory compliance, they are centralized and vulnerable to censorship and regulatory crackdowns.
Crypto-collateralized stablecoins (e.g., DAI, LUSD) introduced a decentralized alternative by using overcollateralization with crypto assets. While they enhance transparency and remove counterparty risk, they require significant capital lock-up to maintain stability.
Algorithmic stablecoins (e.g., UST, FRAX, USDD) sought to use smart contract-based economic incentives to maintain their peg, but catastrophic failures like Terra’s collapse have exposed the risks of undercollateralized designs. FRAX has shifted to a partially collateralized model. USDD still exists but has struggled to maintain a strict peg.
Real-World Asset (RWA)-backed stablecoins (e.g., Ondo’s USYC, MakerDAO’s growing focus on tokenized treasuries and bonds) are emerging as a hybrid model, leveraging traditional assets to provide stability while simultaneously generating yield.
Each of these approaches presents trade-offs in terms of decentralization, efficiency, and security. As the stablecoin market matures, the ongoing development of regulatory frameworks, particularly in the U.S. and Europe, is forcing issuers to adapt and innovate at an unprecedented pace.
The US Stablecoin Strategy: A Push for Dollar Hegemony
During the White House Crypto Summit on March 7, 2025, US Treasury Secretary Scott Bessent highlighted the strategic role of stablecoins in sustaining the global influence of the US dollar.
Organizations issuing overcollateralized stablecoins now rank as the 18th largest purchasers of US government securities globally, surpassing nations such as Germany and South Korea.
By fostering stablecoin-friendly policies and encouraging their global adoption, the US government can utilize stablecoins to absorb inflationary pressures and reinforce the dollar's position as the preeminent global reserve currency.
Key Policy Announcements
Stablecoin Regulation: The Trump administration aims to end restrictive regulations and introduce a clear legal framework.
Legislation: President Trump has urged Congress to pass a stablecoin bill by August 2025.
Overcollateralized Stablecoins: Seen as a tool to increase demand for US debt, reinforcing dollar dominance.
Institutional & Regulatory Support
Federal Reserve Governor Christopher Waller supports stablecoins as a countermeasure to crypto's impact on USD market share.
US Representatives French Hill & Bryan Steil introduced the Stable Act of 2025, focused on dollar-pegged stablecoin oversight.
Bitcoin & the US Stablecoin Strategy
Trump signed an executive order establishing a Bitcoin reserve using government-seized BTC.
Tether plans to invest 15% of net profits into BTC, boosting Bitcoin’s institutional appeal.
European Concerns Over US Stablecoin Expansion
EU officials worry that US-backed stablecoins threaten the euro’s dominance.
ECB President Christine Lagarde reiterated that Bitcoin will not be part of the EU’s monetary reserves.
The EU is accelerating efforts to launch a Digital Euro to counter US stablecoin expansion.
Governments and financial regulators worldwide are intensifying oversight of stablecoins, citing concerns over financial stability, illicit transactions, and potential threats to national monetary sovereignty.
As regulations tighten, decentralized models are gaining traction as viable alternatives to traditional fiat-backed stablecoins, ensuring censorship resistance and global accessibility.
The Future of Stablecoins: Key Trends and Challenges
The stablecoin sector stands at a pivotal crossroads, where innovation, regulation, and competition will determine the dominant models of the future. Several crucial trends are shaping the next phase of the stable asset ecosystem:
The Rise of Hybrid Stablecoins: The integration of real-world assets with decentralized infrastructure is likely to accelerate, offering a middle ground between full centralization and pure on-chain mechanisms.
Enhanced Transparency and Audits: Stablecoin issuers will face increasing pressure to provide real-time proof of reserves and transparent governance models to maintain credibility.
Programmable and AI-Driven Stablecoin Mechanisms: The adoption of AI-driven risk management and automated stabilization mechanisms could enhance the efficiency and resilience of next-generation stablecoins.
Interoperability and Cross-Chain Liquidity: Stablecoins that can seamlessly operate across multiple blockchain networks will gain a competitive edge in facilitating global DeFi adoption.
With financial institutions, regulators, and DeFi protocols all playing a role in this ongoing transformation, stablecoins will remain at the forefront of the digital asset revolution.
2/ Crypto & DeFi News
🏆 Abu Dhabi’s MGX backs Binance with $2B stablecoin investment
Abu Dhabi-based investment firm MGX has invested $2 billion in Binance, marking the first institutional investment in the crypto exchange’s history. The deal will be funded entirely through stablecoins, though Binance has not disclosed which one was used.
MGX, known for its investments in emerging technologies such as data centers, clean energy, and AI, sees this move as an opportunity to drive innovation at the intersection of AI, blockchain, and finance. Binance, the world’s largest crypto exchange by users and daily trading volume, currently has over 260 million registered users.
The investment comes at a time when venture capital interest in crypto is surging. In February alone, 137 crypto firms secured a total of $1.11 billion in funding, with projections for over $18 billion in VC investments this year. Industry players attribute this growth to improving regulatory clarity and expectations of a more favorable macroeconomic environment.
Thoughts
This investment is a turning point for Binance and the crypto industry. Institutional capital has been wary of centralized exchanges, but MGX's $2 billion investment shows changing perceptions, indicating confidence in established platforms.
This move may impact the sector, attracting institutional backing to other exchanges, strengthening financial foundations. The use of stablecoins in this transaction highlights their role in major deals, enhancing their legitimacy.
The rise in crypto venture capital this year underscores the sector's resilience. With clearer regulations and better macro conditions, institutional participation should grow, boosting liquidity, innovation, and blockchain adoption. If Binance uses this capital strategically, it could solidify its dominance and set a standard for other exchanges.
💎 Circle plans to bring $900M money market fund
Circle, the issuer of stablecoin USDC, announced plans on March 13 to bring its Hashnote Tokenized Money Market Fund (TMMF) under Bermuda’s regulatory oversight via its existing Digital Assets Business Act (DABA) license.
Hashnote, which Circle acquired in January 2025, issues USDY, the largest tokenized treasury and money market fund, currently holding a total value locked (TVL) of $900 million, down from $1.9 billion in early January, according to DeFiLlama.
Circle intends to fully integrate USDY with USDC, allowing seamless interaction between the TMMF and its stablecoin. The company believes this will establish USDY as “the preferred form” of yield-bearing collateral for crypto exchanges, custodians, and brokers.
Bermuda was one of the first jurisdictions to create a regulatory framework for digital assets, and Circle was the first crypto firm to secure a DABA license from the Bermuda Monetary Authority in 2021.
Thoughts
Circle’s move highlights the growing convergence between tokenized real-world assets (RWAs) and stablecoins, a trend that could redefine collateralization in crypto finance. By integrating USDY with USDC, Circle aims to create a regulated bridge between traditional financial instruments and digital asset markets, providing institutions with a compliant, yield-generating alternative to conventional collateral.
The decision to bring the TMMF under Bermuda’s oversight also signals a shift toward regulatory clarity in tokenized finance. Given that the RWA market has already surpassed $18 billion in market cap, and tokenized US Treasurys have exceeded $4 billion, securing a strong legal framework could boost institutional confidence and drive further adoption.
However, the sharp decline in Hashnote’s TVL—dropping from $1.9 billion to $900 million—raises questions about investor demand. While integrating USDY with USDC could improve liquidity, its success will depend on how effectively Circle navigates regulatory challenges, competition from TradFi tokenization initiatives, and the evolving macroeconomic landscape.
🌕MoonPay acquires API stablecoin infrastructure platform Iron
Cryptocurrency payments company MoonPay has acquired Iron, an API-based stablecoin infrastructure provider, to expand its enterprise services. The acquisition, announced on March 13, will allow MoonPay’s business clients to accept stablecoin payments instantly at low costs. Additionally, Iron’s integration enables companies to manage multicurrency stablecoin treasuries in real-time and use funds to acquire yield-bearing assets like U.S. Treasury bonds.
MoonPay CEO Ivan Soto-Wright highlighted that Iron’s technology brings “instant, programmable payments” to enterprises, fintechs, and global merchants. This marks MoonPay’s second major acquisition of the year, following its $175 million purchase of Helio, a Solana-based blockchain payment processor, in January.
With stablecoins now exceeding $230 billion in circulation, their integration into mainstream payment providers is accelerating adoption. Industry leaders such as Stripe and PayPal have driven stablecoin growth, while regulatory clarity is emerging, including the SEC’s recent approval of the first yield-bearing stablecoin security in February.
Thoughts
MoonPay’s acquisition of Iron signals the increasing importance of stablecoin infrastructure for enterprise adoption. By providing businesses with programmable, instant payment capabilities and treasury management tools, MoonPay is positioning itself as a key player in the stablecoin-powered payments ecosystem.
The ability to use stablecoin treasuries for yield-bearing assets also aligns with broader trends in the financialization of digital assets. Yield-bearing stablecoins are gaining traction, and with the SEC’s approval of a yield-bearing stablecoin security, we could see more traditional financial institutions exploring their integration.
However, competition in the stablecoin infrastructure space is heating up. Tether-backed fintech firms and payment giants like Stripe and PayPal are also expanding their stablecoin offerings. MoonPay’s success will depend on how effectively it differentiates its services and navigates regulatory landscapes as stablecoin legislation evolves globally.
📈 $4M Hyperliquid loss: Lower leverage as positions grow
Hyperliquid suffered a $4 million loss after an ETH whale used 50x leverage to turn $10 million into a $270 million long position. Unable to exit without crashing their own trade, the investor strategically withdrew collateral, forcing Hyperliquid’s liquidity pool (HLP) to absorb the losses. Smart contract auditor Three Sigma confirmed this was not a bug or exploit but a result of liquidity mechanics.
In response, Hyperliquid lowered its BTC leverage limit to 40x and ETH to 25x, increasing margin requirements for larger positions to reduce similar risks. Despite these changes, the event triggered a $166 million net outflow from the platform on March 12, raising concerns about liquidity risks in decentralized derivatives trading.
While lowering leverage is an immediate fix, the broader issue remains: traders can still use multiple accounts to bypass these restrictions. Without additional risk management measures such as improved liquidation mechanisms and surveillance systems, decentralized derivatives platforms remain vulnerable to similar events in the future.
Thoughts
This incident highlights a recurring challenge for DeFi derivatives: balancing high-leverage trading with platform stability. Hyperliquid’s losses and subsequent capital outflows reinforce the importance of effective risk management in decentralized markets.
Lowering leverage reduces systemic risks but may also make the platform less attractive to traders seeking high-return opportunities. CEXs typically manage this trade-off through dynamic risk limits and on-chain monitoring—tools that DeFi platforms will need to adopt to remain competitive.
The $166 million outflow suggests that confidence in Hyperliquid's risk framework has weakened. To regain trust, the platform and other decentralized derivatives protocols must refine their approach to liquidation mechanics and market manipulation detection. Otherwise, traders may shift toward alternatives with stronger safeguards.
🔜 Only 4% of the world's population holds Bitcoin in 2025
Only 4% of the global population currently holds Bitcoin, with the highest adoption rate in the U.S., where 14% of individuals own BTC. North America leads in both individual and institutional adoption, while Africa has the lowest rate at just 1.6%.
Despite Bitcoin’s increasing presence in financial markets, it has only reached about 3% of its estimated maximum adoption potential. This is due to a combination of institutional underallocation and low individual ownership rates.
A key challenge for mass adoption is the lack of financial and technical education, which contributes to misconceptions about Bitcoin. Additionally, BTC’s high volatility makes it less attractive as a medium of exchange or store of value, particularly in developing economies where stablecoins are preferred. The recent White House Crypto Summit emphasized this trend, with U.S. Treasury Secretary Scott Bessent highlighting the role of stablecoins in maintaining U.S. dollar hegemony.
Thoughts
Bitcoin’s relatively low global adoption suggests significant room for growth, but also highlights key barriers to mainstream acceptance. While BTC is gaining recognition as a long-term asset, volatility and complexity still limit its use for everyday transactions.
The contrast between Bitcoin adoption and the growing reliance on stablecoins in emerging markets is becoming more pronounced. As stablecoins offer lower transaction costs and price stability, they are increasingly used in daily commerce, while Bitcoin remains more of a long-term investment.
For BTC adoption to expand further, improvements in scalability, education, and regulatory clarity will be essential.
3/ Zoom on Stablecoin Protocols - Resolv & Level
I strongly believe stablecoins could define the narrative of 2025. That's why today, our focus will be on them. I believe farming protocols with stablecoins can offer a low-risk strategy in this complex market.
Today, we are going to discuss two tokenless, yield-bearing stablecoin protocols👇
Resolv Labs: Redefining Stablecoins with a Dual-Token Model
A Paradigm Shift in Stablecoin Design
Stablecoins have long been at the center of DeFi, but existing models face challenges related to censorship risks, centralization, and collateral efficiency. Resolv Labs introduces an innovative approach that aims to combine the security of full collateralization with the flexibility of DeFi-native mechanisms.
At its core, Resolv Labs utilizes a dual-token architecture to enhance the stability and efficiency of its stablecoin ecosystem:
$USR (The Stablecoin): A fully backed, decentralized stablecoin designed to maintain a 1:1 peg to the US dollar, supported by staked ETH and hedged derivatives positions.
$RLP (The Insurance & Risk Absorption Token): Functions as a protective layer against under-collateralization and funding rate fluctuations, ensuring the system’s resilience during market volatility.
What Sets Resolv Labs Apart?
Resolv Labs differentiates itself through several key innovations:
Censorship Resistance: Unlike USDC or USDT, $USR is entirely decentralized and cannot be frozen by any central authority.
Yield-Generating Model: Resolv leverages staked ETH and derivatives strategies to provide sustainable returns to users.
Delta-Neutral Hedging: The system eliminates price exposure risks by maintaining short positions on centralized and decentralized exchanges.
Risk Mitigation with $RLP: The insurance layer absorbs potential losses from funding rate imbalances, protecting $USR holders.
Liquidity Optimization: Unlike traditional overcollateralized stablecoins, Resolv optimally allocates collateral to ensure efficiency while maintaining a stable peg.
Resolv has formed numerous partnerships with DeFi protocols such as Pendle, Morpho, Aerodrome, Curve, Euler, and Spectra. This allows users to choose from a wide range of options to farm Resolv points.
To participate in yield generation, users must stake $USR in the protocol to receive $stUSR, which accrues yield over time.
Yield sources include:
ETH staking rewards from the protocol’s collateral.
Funding rate arbitrage from perpetual futures hedging strategies.
Protocol fees & ecosystem incentives.
$RLP: The Insurance & Risk Absorption Layer
$RLP plays a crucial role in stabilizing the Resolv ecosystem by absorbing potential system losses. Key benefits include:
Acts as an insurance fund: Covers any deficits that arise from negative funding rates.
Compensates holders with higher yield: $RLP stakers earn enhanced returns in exchange for taking on risk.
Ensures 100% collateralization: Maintains stability and confidence in the ecosystem.
Resolv Labs vs. Ethena: A Direct Comparison
Total Value Locked (TVL) Growth & Adoption
Resolv Labs has seen significant growth in its TVL, indicating strong adoption and confidence in its model:
Initial TVL Surge: Within weeks of launch, Resolv Labs surpassed $100M in TVL, demonstrating rapid early adoption, the TVL stands now at $692M.
Sustained Growth: The TVL continues to rise as more users mint $USR and stake $RLP.
Institutional Interest: The model’s efficiency and yield generation have attracted large DeFi investors and institutions looking for decentralized stablecoin alternatives.
Ecosystem Expansion: As integrations with major DeFi protocols expand, TVL is expected to grow further, solidifying Resolv’s position in the stablecoin market.
Resolv Labs Airdrop Guide: How to Earn Rewards
Resolv Labs has launched a points-based airdrop incentive program designed to reward early adopters and ecosystem participants. By accumulating points, users position themselves for a potential token airdrop once the governance or incentive token is launched.
The TGE of $RESOLV is scheduled for March, but it might be postponed due to the current market conditions. If you haven't farmed the protocol yet, there's still time to accumulate points.
They recently changed the Resolv Points Boost. Now, everyone automatically receives a +75% boost without needing to accumulate multiple activities.
How to Maximize Your Airdrop Eligibility.
Increase duration of staking: Longer staking periods often result in higher multipliers.
Engage in testnet or beta features: If Resolv launches early testnet participation rounds, engaging in these activities can provide an additional points boost.
Tracking Your Points & Airdrop Status
Users can check their points accumulation directly via the Resolv Labs dashboard.
You can also check your ranking on the leaderboard among all users ( currently +36k) and see the total points farmed so far (currently 3.07 TN).
Resolv Labs introduces a robust, decentralized, and yield-bearing stablecoin model that enhances capital efficiency while maintaining security and censorship resistance.
Its dual-token architecture ($USR & $RLP) mitigates risks and optimizes returns.
The delta-neutral hedging strategy ensures stability even in volatile markets.
The ongoing airdrop program presents a unique opportunity for early adopters to gain exposure to a high-potential ecosystem.
With the stablecoin landscape evolving rapidly, Resolv Labs has the potential to redefine how DeFi-native stable assets function. Whether it can challenge the dominance of centralized alternatives remains to be seen, but its innovative approach makes it a project worth watching.
Dollar Restaking: Level's Mission with lvlUSD
Introduction
At Level, they believe the two most critical use cases for cryptocurrencies are:
Permissionless access to US Dollars
Securing decentralized networks against malicious actors
Their mission is to merge these use cases by making it 10x easier to use dollar stablecoins to provide economic security for decentralized networks.
The Evolution of Restaking: From ETH to Dollars
Restaking has reshaped DeFi by allowing staked assets to secure multiple layers of infrastructure. EigenLayer pioneered this with ETH restaking, but now, the model extends beyond ETH. Dollar restaking is the next frontier, leveraging stable assets to secure networks while generating yield.
Level is at the forefront of this evolution, introducing lvlUSD, a yield-bearing stablecoin that unlocks dollar restaking opportunities. Let’s break down how this works and why it matters.
Understanding Level and lvlUSD
Level is building a modular and composable framework for dollar restaking, with lvlUSD as its core primitive. Unlike traditional stablecoins, lvlUSD is natively staked and provides restaking yield from multiple sources.
How lvlUSD Works
USDT and USDC are deposited into Aave to generate base yield.
aUSDT & aUSDC receipt tokens are restaked in Symbiotic to secure decentralized networks.
Over time, additional restaking yield layers are introduced, while Symbiotic points accrued are passed to users.
By leveraging liquid and secure DeFi protocols, Level ensures a lower risk profile compared to other yield-bearing stablecoins.
lvlUSD: A Yield-Bearing Stablecoin
lvlUSD is designed as a fully-backed stablecoin with embedded yield generation mechanisms. Here’s how it works:
Base Collateral: lvlUSD is minted using liquid-staked assets and other yield-bearing stablecoins.
Restaking Mechanism: Deposits are automatically restaked across DeFi and Layer 2 protocols, enhancing security and efficiency.
Yield Distribution: The yield generated is shared among lvlUSD holders, creating an interest-bearing stablecoin.
Why Dollar Restaking Matters
Dollar restaking is a game-changer for stable assets. It enhances capital efficiency, security, and yield generation in DeFi. Here’s why it’s important:
Scalability & Security for Emerging Networks
Restaked dollars can serve as economic security for blockchain infrastructure, much like ETH does in EigenLayer. This ensures that newer chains and protocols can bootstrap security without relying solely on native tokens.
Yield Generation Beyond Stables
Holding stablecoins typically means zero yield unless deposited into DeFi protocols. lvlUSD changes this by embedding yield at the base layer, making it a superior alternative to traditional stablecoins.
Composability & Modular Integration
lvlUSD can be integrated across DeFi, enabling lending, borrowing, and liquidity provision while still earning yield.
lvlUSD: A New Primitive
lvlUSD is a liquid restaked dollar: a yield-bearing, cross-chain stablecoin fully collateralized by restaked USDC and USDT.
Benefits for Restakers (Bond Holders)
Stackable Yield: Earn yield from multiple networks simultaneously
Non-Custodial: Maintain custody while earning yield
Trust-Minimized: Only trust Tether (and to a lesser extent, Level’s network curation)
Risk Mitigation: Level abstracts slashing risk from users
lvlUSD’s market cap has surged to $74M, doubling market cap and TVL in 2 weeks, driven by integrations with major DeFi platforms like Morpho, Spectra, and Pendle.
+10K users can:
Stake lvlUSD for slvlUSD, earning ~13.69% yield
Use lvlUSD as collateral on Morpho
Lock in fixed PT-slvlUSD rates on Spectra and Pendle
XP Farming: Rewarding the Community
Level XP allows users to earn rewards by depositing stablecoins and LP tokens.
Unlike Resolv, Level has not announced a TGE or even a ticker.
Deposit stablecoins (lvlUSD, USDT, USDC, USR etc.) into the XP Farm.
Provide liquidity on Curve, Spectra, and Pendle.
Hold Pendle/Spectra Yield Tokens (YT-lvlUSD, YT-slvlUSD).
Use lvlUSD as collateral on Morpho.
Existing Partner Rewards
Managing Risk
While lvlUSD offers compelling benefits, Level actively mitigates risks through:
Strict collateral selection: Only USDT and USDC accepted.
Lending risk controls: Deploying only to battle-tested lending protocols.
Slashing risk protection: Redirecting slashed funds to reserve managers.
Smart contract security: Audits, peer reviews, and bug bounties.
Operational security: Multi-sig admin roles and external signers.
Conclusion
Level aims to unlock $170B worth of stablecoins to secure decentralized networks, creating a new class of dollar-denominated internet bonds. Through lvlUSD and XP farming, they provide stable, composable, and capital-efficient economic security for the blockchain ecosystem.
