Mahone Defi

Aave V4 lets external partners run their own lending instances and distribute credit products to their users. @ether_fi Cash and @SentoraHQ are two early examples, serving different lending needs while sharing revenue with @aave DAO. 🧵,

Ethena Pay launched Earn+, bringing an ~11x leveraged defi strategy into a consumer finance app. Users can move USD into Earn+ to access a target yield of up to 12% APY, compared to up to 6% on the regular USD Account. Behind the one-tap experience is a vault running on @aave V4 on @avax. 🧵,

RWA is gaining traction across @aave's lending markets. $1B+ in RWA-related deposits now sit across V3, V4, and Horizon. 🧵,

RedStone turns 6 today, and it's building the infrastructure to power the RWA decade and the next era of onchain finance. Six years ago, @redstone_defi started as an oracle focused on solving asset pricing challenges that traditional oracles had yet to address. From liquid restaking and synthetic dollars to staked Bitcoin and tokenized funds, RedStone has continuously expanded its infrastructure to meet the market's increasingly complex pricing needs. Today, RedStone secures over $9B in assets across 110+ chains, serving 200+ clients and partners, including @BlackRock BUIDL, @Securitize, @CantonNetwork, and even pre-IPO markets on @HyperliquidX. But imo, the biggest milestone lies in RedStone's evolution from a price oracle into a broader financial infrastructure stack: Price: Reliable asset pricing data Settle: Near-instant liquidity, exits, and liquidations Risk: Credit risk assessments through @CredoraNetwork ratings Compliance: Onchain sanctions screening through Sanctions Oracle Together, these layers lay the foundation for RedStone's next chapter: making tokenized assets liquid, productive, and ready to scale across onchain finance.

ngl, this report gave me a much deeper understanding of tokenized stocks onchain. There are plenty of valuable findings, but a few insights from @redstone_defi really stood out to me: 1. Perps are still where stocks actually trade One of the biggest takeaways from RedStone's report is how much equity perp trading dominates the market. Equity perp volume is roughly 9.9x higher than tokenized stock spot volume. Even with tokenized stocks surpassing $3B, most onchain trading activity still happens through derivatives rather than spot tokens. For now, traders seem to value the leverage and liquidity of perps more than holding tokenized shares. 2. After-hours trading is a clear advantage Around 55% of tokenized stock trading volume happens outside traditional market hours. Even more impressive, Sunday evening perp prices correctly predicted the direction of Monday's market open around 65% of the time in RedStone's sample. This is one of the clearest examples of the real utility crypto infrastructure brings to tokenized equities. 3. The defi gap remains huge Only 2.6% of tokenized stocks are actually being used in DeFi, despite 42% of the supply being technically eligible as collateral. Most of the collateral usage comes from a handful of smaller markets, while assets from larger issuers barely see meaningful borrowing activity. This suggests there's still a massive gap between making tokenized stocks available in DeFi and generating real demand for them as collateral. 4. Liquidity and actual ownership are highly fragmented There are roughly 4.04M holders, but the average balance is only around $780. Most positions are small, retail-sized holdings concentrated across a limited number of venues. Meanwhile, many large balances sit in issuer wallets and exchange hot wallets rather than individual investor wallets. Another detail worth noting: the three largest issuers, accounting for roughly 70% of the market, don't provide direct equity ownership. Instead, holders typically receive indirect economic exposure or claims backed by underlying shares. --- The full report goes much deeper into market structure, trading behavior, liquidity fragmentation, and the DeFi adoption gap that RedStone has identified. If you want to explore the full data and analysis, I'd recommend checking out the report below.

imo, one of the most valuable insights from @paretocredit's article is that most real Bitcoin borrowing demand sits in the OTC market, where hedge funds, prime brokers, and financial institutions borrow Bitcoin to support their operations. Onchain, Bitcoin is mostly used as collateral, leaving lending rates close to zero. This gap is exactly what credit products like Pareto x Two Prime aim to address, bringing offchain institutional borrowing demand onchain through a more structured credit model. So what makes this Bitcoin Credit product different from traditional OTC lending and existing onchain markets? 1. Yield backed by institutional credit demand The vault currently offers around 1.61% net APY, paid in $WBTC. That's significantly higher than most onchain Bitcoin lending pools, where limited borrowing demand keeps rates near zero. More importantly, the yield comes from interest paid by institutional borrowers rather than relying on token incentives. 2. Credit structure designed for institutional lending Rather than operating as a typical lending pool, Pareto structures the vault as a credit facility with defined risk controls. @Two_Prime puts up 150 WBTC of its own capital as first-loss protection, absorbing credit losses before they reach lenders. The vault also has monthly redemption cycles and a Credit Agreement outlining lender rights and recovery procedures. This follows the hybrid onchain + offchain model that Pareto has already demonstrated across its previous Credit Vaults. 3. A new access channel for institutional Bitcoin credit The product opens institutional Bitcoin credit exposure to eligible lenders holding capital onchain. Previously, accessing OTC lending opportunities often required direct institutional relationships, with limited flexibility around participation. By bringing this exposure onchain, Pareto creates another channel for capital allocation beyond traditional OTC relationships. 4. The composability potential of $pAXIOMBTC For me, this is the strongest advantage of bringing Bitcoin credit onchain. Unlike traditional OTC positions, the vault's receipt token can potentially be integrated into secondary markets, money markets, or more complex structured DeFi products. That opens the door for the same Bitcoin credit exposure to gain additional liquidity, distribution, and utility across DeFi.

11 Aave markets ended Q3 with $1.3B+ in deposits and $417M borrowed. Across V3 and V4, @aave expanded into new chains, consumer credit, and different lending structures. A few things stood out to me 🧵

My take on the partnership between @redstone_defi and @Brickken: 1. T+0 settlements via Settle could bring the most value to Brickken's ecosystem. Price feeds and credit ratings are offered by multiple providers, but turning T+N settlement into T+0 liquidity addresses one of RWA's biggest pain points. Brickken has supported over $660M in tokenized assets, spanning equity, real estate, and energy. Many of these asset classes are traditionally illiquid, with lengthy redemption cycles. RedStone Settle uses solvers to provide immediate liquidity, while solvers take over the positions and handle redemption. If executed well, this could unlock more Brickken assets as collateral in defi lending markets. 2. Expanding agent-ready RWAs on Brickken Brickken already offers APIs, an MCP server, and SDKs that allow AI agents to interact with tokenized assets. RedStone adds three key infrastructure components: - Pricing to determine asset valuations. - @CredoraNetwork to assess credit risk. - Settle to support exits and liquidations. Together, these components could help AI agents move beyond executing transactions toward managing RWA positions autonomously. 3. An institutional moat is taking shape RedStone is expanding vertically across pricing, risk, and settlement rather than competing solely as an oracle provider. Through Brickken, RedStone gains an opportunity to integrate all three layers with asset issuers from the tokenization stage. As issuers and lending markets adopt the full stack, switching costs could rise, making the infrastructure harder to replace. imo, that's where RedStone's long-term institutional moat could emerge, with Settle as its strongest differentiator.

Tokenized stocks on @base are finding more use cases in DeFi. 3% USDC incentives to boost tokenized stock deposits on @aave V4 $1.2M in collateral from @superformxyz, bringing automated carry trade strategies to retail users. 🧵,

ngl, keeping up with hundreds of sanctions lists is a headache for defi teams. so @redstone_defi built a Sanctions Oracle that lets protocols screen wallet addresses against 463 sources covering OFAC, UN, EU, and other sanctions lists through a single onchain check. protocols can query the oracle during a transaction and revert if an address is flagged, embedding sanctions screening directly into the execution flow. updates are pushed onchain weekly with a timestamp, so protocols can set limits on how old the screening data can be. the contract also uses the same interface as Chainalysis’ sanctions oracle, simplifying integration for protocols already using that interface. potential use cases include: - stablecoin issuers - tokenized funds - lending protocols - permissioned pools imo, the key shift is making sanctions screening part of how a protocol operates. for institutional, that means access rules can be enforced directly by smart contracts at execution time.