The Plasma syrupUSDT vault is reopening with an additional $100 million capacity and renewed momentum following two months of strong, resilient performance. Despite industry-wide yield compression and heightened volatility after October’s drawdown, the vault delivered approximately 12% annualized returns across the period, outperforming many competing stablecoin strategies that experienced capital losses.
The performance was driven by syrupUSDT’s native yield, looping yield generated across Aave and Fluid, and XPL rewards. Looking ahead, the vault is projecting a ~16% net APY over the next 30 days, bolstered by approximately 4% in exclusive XPL incentives and temporary fee waivers from Maple, Edge Capital, and Midas.
Key Advantages and Strategy
One of the vault’s core advantages is its exclusive access to syrupUSDT supply caps on Aave. With all public caps currently filled, the Plasma strategy offers a unique entry point unavailable elsewhere. This advantage, combined with the vault’s conservative risk framework, reinforces its status as one of DeFi’s most attractive risk-adjusted yield opportunities.
The underlying strategy uses a plain-vanilla looping structure across Aave and Fluid, two of DeFi’s most established lending markets. syrupUSDT’s backing composed primarily of overcollateralized BTC loans adds another layer of resilience. Edge Capital leads strategy and risk management, maintaining a multi-year zero-loss track record. All vault assets remain fully segregated and verifiable onchain, with Midas providing operational infrastructure.
Additional Benefits and Outlook
Additional benefits for LPs include improved looping efficiency following the unlock period, transparent onchain yields, and upcoming Pendle markets for fixed-rate and yield-speculation opportunities.
With $500,000 of fresh XPL incentives scheduled for distribution and strong historical returns, the Plasma syrupUSDT vault continues to stand out in a low-rate environment. The vault reopens on November 16 at 9:00 AM ET on a first-come, first-served basis.