The Sky Ecosystem has deployed over $11.5B billion across stablecoins in the peg stability module, short duration treasury bills, onchain crypto lending, OTC crypto lending and AAA corporate debt. To understand how Sky allocates capital at scale without concentrating decision-making, you need to understand the Agent Framework: the system
A year ago, a question kept coming up in our work as a yield intelligence platform: stablecoin yield exists and works, so why are intuitive savings account options so limited within existing stablecoin platforms? Something so obvious in traditional banking, yet so rare onchain. Neobanks started to pop up to
TL;DR: The 10 largest stablecoins by market cap as of April 2026 are USDT (~$190B), USDC (~$78B), USDS (~$11B), DAI (~$4.4B), USDe (~$3.8B), PYUSD (~$3.4B), USDG (~$2.4B), RLUSD (~$1.6B), USDD (~$1.5B), and USDY (~$1.3B). They span three categories: fiat collateralized stablecoins backed
TL;DR: A stablecoin is a crypto asset designed to hold a fixed value, typically pegged to $1. They come in four main types: fiat-backed, crypto-collateralized, algorithmic, and RWA-backed. Yield-bearing stablecoins earn a return on top of that peg. Understanding which mechanism backs a stablecoin, and how resilient that mechanism
Stablewatch Memo #2: Recent weeks provided a clear demonstration of how modern financial systems handle stress. When redemption requests hit 9.3% of outstanding shares, BlackRock gated its $26 billion HLEND fund, trapping investor capital behind a 5% quarterly cap. Meanwhile, onchain lending protocols processed over $51.7 billion in
Delivering Institutional-Grade Risk and Data Infrastructure to DeFi's Largest Balance Sheet Onchain yield markets have crossed $20 billion. The infrastructure to assess risk, compare opportunities, and satisfy due diligence has not kept up. Stablewatch is here to fix that. As a new core contributor to the Sky Ecosystem,
AI infrastructure spending is reshaping credit markets. How collateralized lending, DeFi rails, and asset-based finance are closing a multi-trillion-dollar funding gap.
This article was made possible with the support of @idOS_network Executive Summary The stablecoin economy has transitioned from a crypto niche into a $290 billion financial powerhouse, and is currently experiencing an explosive growth, characterized by an 89.4% YoY surge in volume. This rapid expansion, underpinned by formalizing
Aave V4 Since its inception in 2017 as ETHLend, Aave has been a pioneering force in DeFi, emerging as one of the first protocols to enable peer-to-peer lending on Ethereum. Over the years, it evolved into a dominant player in the DeFi lending landscape, boasting billions in total value locked
This article is part of the Redstone “Yield Bearing Assets & Stablecoins Report 2025”, where Stablewatch is a co-author. The architecture of the digital asset economy is on the cusp of a fundamental transformation, catalyzed by the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. A landmark
AI's Value Bypass The proliferation of generative AI has introduced a systemic inefficiency into the digital economy. It arises not from a flaw, but from a fundamental architectural incompatibility between how autonomous agents consume information and how the web has historically monetized its creation. The result is the
The Yield-Bearing Stablecoin (YBS) market has fundamentally evolved into a complex, multi-billion dollar ecosystem. Navigating this landscape today demands more than simple APY trackers; it requires a sophisticated, data-driven framework. To accommodate for the growing complexity of this market, we are launching a major evolution of the stablewatch.io analytics