DeFi's 48-Hour Reckoning: How the Market Repriced Risk
Until recently, lending stablecoins on Aave, a benchmark for DeFi, yielded a mere 2.32% APY, defying conventional logic. The Federal Reserve's overnight rate stood at 3.64%, implying that the market viewed an unregulated smart contract as a lower credit risk than the US Treasury. However, this anomaly was short-lived. In a mere 48 hours, the market rectified this mispricing, sending shockwaves th…
April 23, 2026, 4:30 p.m.