Yield & Vaults
Yield protocols take a deposit and run a strategy with it, so the holder keeps a single position instead of managing allocations across lending markets, liquidity pools and staking. Risk curators go a step further and set the parameters, collateral and caps for vaults that other people supply.
The filters separate plain vaults, curated vaults, yield trading, fixed-yield products and no-loss lotteries that pay interest out as a prize. Entries are ordered by value locked on DefiLlama, with featured listings first.
Ethena
Ethena issues $USDe, a synthetic dollar backed by staked $ETH and $BTC hedged with short perpetual positions, and pays the funding carry to $sUSDe holders. It runs on Ethereum with bridges to Solana, Arbitrum and Base.
Spark
Spark is the Sky ecosystem lending market and savings layer, lending $USDS and $DAI against major collateral and paying the Sky Savings Rate. It runs on Ethereum, Base, Arbitrum and Gnosis.
Veda
Veda builds the BoringVault standard that exchanges and wallets embed to offer yield products, with whitelists and deposit permissions per vault. It runs on Ethereum, Optimism, Hyperliquid and Plasma.
Pendle
Pendle is a yield tokenization protocol that splits yield-bearing assets into separate principal and yield tokens, enabling users to trade future yield, lock in fixed rates, or speculate on yield movements.
Concrete
Concrete runs yield vaults that route deposits into lending and yield trading venues such as Morpho, Euler and Pendle. It operates on Ethereum, Arbitrum and Berachain.
Convex Finance
Convex Finance let you deposit your Curve LP tokens to earn Curve trading fees, boosted CRV and CVX tokens. Boost is pooled from CRV stakers so you do not need to worry about locking yourself.
Upshift
Upshift lets fintechs and asset managers launch DeFi vaults with defined deposit assets and risk parameters, while professional managers run the strategies. It operates on Ethereum, Monad and Stellar.
Cian
Cian automates leveraged staking and lending strategies inside vaults, rebalancing the positions as rates move. It runs on Ethereum, Mantle, Arbitrum, Optimism and Base.
Mellow
Mellow provides modular vault contracts that curators configure with their own strategy and risk limits, including restaking allocations. It runs on Ethereum, Monad and Polygon.
Yearn.finance
Yearn.Finance automates yield-maximizing profit switching opportunities for liquidity providers and yield farmers.
Lagoon
Lagoon provides asynchronous vaults with built-in fee logic and reporting so curators can run tokenized strategies. It runs on Ethereum, Arbitrum, Base, Avalanche and Hyperliquid.
Stake DAO
Stake DAO is a non-custodial platform that enables anyone to easily grow their crypto portfolio. It is built on top of decentralized blockchain protocols, offering a seamless way for people to grow, track, and control assets right from their wallet.
Exponent
Exponent splits yield-bearing tokens on Solana into principal and yield legs, so holders can lock a fixed rate or take a position on future yield.
Beefy Finance
Beefy Finance is a Multi Chain Yield Optimizer that enables users to get maximal return on their assets while removing the cost and hassle of daily harvest.
Superform
Superform is a self-custodial app for earning yield on dollars and holding tokenized United States stocks, built on the Superform vault protocol. It covers Ethereum, Base, Arbitrum, Optimism, Polygon, Avalanche and BNB Chain.
PoolTogether
PoolTogether is a no-loss, audited savings game powered by blockchain technology. Interview with PoolTogether co-founder.