DeFi's 48-Hour Repricing: A Market Correction
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 disparity suggested the market viewed DeFi as a lower credit risk than the US Treasury. However, this changed dramatically over 48 hours, as the market repriced DeFi credit risk in real-time, a feat no regulator, auditor, or commentator had ac…
April 23, 2026, 4:30 p.m.