hyperliquid:native to 200 ethereum:0x808507121b80c02388fad14726482e061b8da827 to 20 $PEAR to 1 ethereum:0xb1d1eae60eea9525032a6dcb4c1ce336a1de71be to 2

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Stablecoins are a $305.6B market. Four projects offer very different ways to capture that growth. Here is how I would map Sky, Ethena, Aave and Pendle as of September 7, 2026. 1. @SkyEcosystem: earn the spread Sky earns interest and income from the assets and credit supporting its dollar system. The economic opportunity is to grow USDS while keeping asset income ahead of savings payouts and other costs. DefiLlama tracks $13.51M in protocol revenue and $2.91M in holder revenue over 30 days. Protocol surplus already supports SKY buybacks and staking rewards. Watch USDS growth alongside the surplus retained per dollar. Expensive deposits can grow a stablecoin without improving its economics. 2. @ethena : scale the yield engine Ethena generates income through USDe's backing assets and hedging strategy. That income also funds sUSDe returns and distribution, so the amount available for ENA depends on how revenue is allocated. USDe currently has roughly $4.37B in circulation. The August 27 fee-switch proposal places the first buyback threshold at $7.5B, with 95% of net revenue paid to the Foundation from its core business lines earmarked for buybacks once activated. The opportunity is conditional: grow USDe, preserve competitive yields and turn the fee framework into executed token purchases. 3. @Aave: monetize borrowing demand Aave earns a share of the interest borrowers pay. More stablecoins become economically useful when borrowers actually draw on that liquidity. It recorded $4.57M in 30-day protocol revenue. AAVE buybacks were paused in April, and DefiLlama records zero holder revenue for the current 30-day window. The business can keep earning while token purchases pause. Watch stablecoin borrowing, utilization and confirmed buyback resumption. 4. @pendle_fi : build markets around yield Pendle lets holders separate principal from future yield, creating markets for fixed returns and changing yield expectations across different issuers. Pendle V2 allocates 80% of protocol fees after the LP allocation to PENDLE buybacks, with repurchased tokens supporting eligible sPENDLE holders. DefiLlama tracks approximately $521K in holder revenue over 30 days. Its opportunity grows when more yield-bearing assets find active markets on Pendle. The relevant signals are yield fees, trading activity and recurring demand across maturities. The financial figures above cover whole protocols under DefiLlama's definitions. They are not a measure of stablecoin-only profit. My research priority would be SKY and PENDLE for cash flow already reaching tokens, AAVE for borrowing demand, and ENA for conditional fee activation. A growing market creates opportunity. The token thesis depends on how much of that opportunity it can actually retain.

Are you ready to rumble? .hl versus .lit How it works: trade using our AI Trading Assistant, either on TG or our Orchard UI. Highest ROI on each side wins. 1st place wins a @HypioHL (.hl) or @fuegonft (.lit) 2nd and 3rd on HL and Lighter split 10% of Orchard's weekly fees. Leaderboard runs until the 14th. May the best traders win! 🍐

With @DeriveXYZ’s crazy recent traction, seems like as good of a time as ever to remind people why onchain options were inevitable - so reposting our thesis here. All the pieces were in place - just needed a team like the Derive team to execute.

Trade now on Orchard's Lighter Engine for a chance to win: - Tickets to F1 during Token2049 - A share of 5000 $LIT (>$15k) - 10% of the treasury fees Competition lasts from 24th to the 31st. We will announce the winners live with @hufhaus9, @moritzpike & @trevor_flipper.

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WE TRYING TO 1) BUILD COOL SHIT 2) KEEP UP TO THE CRYPTO ETHOS 3) MAKE MONEI 4) RE-DISTRIBUTE IT TO HOLDERS $PEAR

The best part of this piece is handing everyone a new measuring stick: buyback usd over mcap most buyback writeups stop at the headline, 50% of rev sounds huge but means nothing without knowing if the token’s big or small @0xPhoenix77 pushed this one level further, turning buyback from a PR number into a ratio you can actually compare across projects. $hype and $pump are the clearest cases the article picks one angle, the ethereum:0x808507121b80c02388fad14726482e061b8da827 case is actually the most sophisticated one in the whole piece, turning buyback into yield paid to holders through sPENDLE instead of a straight burn, creating a loop that both retains stakers and still generates spot demand. that 3 layer design is genuinely harder to pull off than a simple buy and burn

People are making two compounding mistakes when evaluating DeFi apps right now: 1) Market Size: People think they are targeting the $2 trillion crypto market when they are actually targeting the $500 trillion asset market. 2) Value Capture: People think they have maximized fee generation when they are actually just scratching the surface. These things -- Hyperliquid, Uniswap, Aave, Morpho, Aerodrome, Lighter, Pump, and more -- have bigger TAMs and more pricing power than people believe.

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you asked, it's live 🍐 ty @OfficialMimuX correlated carry finder on pairfundingscreener.xyz pairs that move together, funding that pays you. one tap → @pear_protocol delta neutral farming for the lazy. free.

Pear Protocol Continues to Expand on Hyperliquid Pear Protocol has become one of the fastest-growing trading applications on Hyperliquid, enabling long/short basket trading while generating over $1.8B in cumulative trading volume. Key Metrics: • Total Trading Volume: $1.80B • 30-Day Volume Growth: +75.6M • Total Traders: 7,208 • New Traders This Week: +34 • Total Protocol Fees: $1.15M • Fees Generated Today: $7,862 • Live Open Interest: $10.26M • Live Pair Trades: 569 • PEAR Staked: 169.68M • Buyback Pool: $7M Recent Activity: • Last 7 Days Volume: $9.20M • Busiest Trading Day: $12.52M (2025-11-07) The cumulative trading volume continues to trend higher, reflecting steady user growth and increasing adoption of basket trading strategies. With over $10M in live open interest, more than 7,200 traders, and nearly 170M $PEAR staked, Pear Protocol has become a key trading application within the Hyperliquid ecosystem. By allowing users to go long one basket of assets while simultaneously shorting another in a single position, Pear Protocol brings advanced trading strategies fully on-chain while leveraging Hyperliquid's liquidity and execution engine. $PEAR $HYPE #Hyperliquid #PearProtocol #HyperEVM #DeFi #Crypto

PEAR PRO is only available for institutions, but pear.garden V3 is still great for retail users and will be available by the end of this month ✅ If you are a @Lighter_xyz whale or a highly skilled trader, get in touch with the @pear_protocol team and try it yourself 🫡

I think my sleepless nights are finally over, guys 📌 🧵 I was invited to test @pear_protocol PRO, which integrates developer codes from @Lighter_xyz and @HyperliquidX. I ultimately selected Lighter to take advantage of their zero-fee structure. Key features available now: ▫️ Place Limit Orders to enter a position on the ETH/BTC chart and many other trading pairs (single markets too). ▫️ For those positions, set Take Profit/Stop Loss targets (which takes away the need to watch charts every 30 mins). ▫️ Single market trading, like on any other perpdex is also available ▫️ On top of this, highly skilled traders & institutions can also trade baskets of pairs. Full Lighter integration will be part of Pear v3 later this month and you can access it here: pear.garden/ See more details below ⬇️