DeFi's 48-Hour Reckoning: How the Market Repriced Risk
The lending of stablecoins into Aave, a gold standard in DeFi, previously yielded 2.32% APY, lower than the Federal Reserve's overnight rate of 3.64%. This discrepancy suggested the market viewed unregulated, open-source smart contracts as lower credit risks than US Treasury bonds. However, this mispricing was corrected within 48 hours. Aave's stablecoin deposit APY jumped from 2.32% to 13.4% aft…
April 23, 2026, 4:30 p.m.