DeFi's 48-Hour Reckoning: How the Market Repriced Risk
The lending landscape in DeFi underwent a significant transformation between April 17 and 19. Until April 17, lending stablecoins via Aave, a benchmark for DeFi, yielded 2.32% APY, despite the Federal Reserve's overnight rate being 3.64%. This implied that the market viewed an unregulated, open-source smart contract as less risky than U.S. Treasury bonds. However, this perception changed drastica…
April 23, 2026, 4:30 p.m.