DeFi's 48-Hour Reckoning: How the Market Repriced Risk
Until recently, lending stablecoins on Aave, a platform widely regarded as the gold standard of DeFi, yielded a mere 2.32% APY, despite the Federal Reserve's overnight rate standing at 3.64%. This seeming disconnect between the two rates implied that the market viewed an unregulated, open-source smart contract as a lower credit risk than the United States Treasury. However, this anomaly was short…
April 23, 2026, 4:30 p.m.