SS #75 - Tether Dives into On-Chain RWA Perps via Hyperliquid

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Good morning, and Happy Lunar New Year to those celebrating.

We’re kicking off the week with a major move from Tether. The stablecoin issuer has announced a strategic investment in Supreme Liquid Labs, the team behind the Dreamcash mobile frontend. This partnership aims to bridge the gap between DeFi and traditional markets by launching USDT0-collateralized perpetuals on the Hyperliquid DEX. For the first time, users will be able to trade high-demand assets, including Tesla (TSLA), Nvidia (NVDA), and Gold, directly on-chain using Tether's liquidity framework.

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In Today's Edition:

• Headline: Tether Dives into On-Chain RWA Perps via Hyperliquid

• Quick Bites: OKX Snags European Payments License for Stablecoin and Crypto Card Expansion

• Yield of the Week: 14.87% APY on GAIB

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HEADLINE

State of play: Tether has made a strategic investment in Supreme Liquid Labs, the developer of the Dreamcash mobile frontend, to launch USDT0-collateralized perpetual markets for stocks like Tesla (TSLA), Nvidia (NVDA), and commodities like Gold on the Hyperliquid decentralized exchange.

• The move introduces synthetic exposure to major U.S. equities and gold directly on-chain through Hyperliquid’s HIP-3 standard.

• Tether is utilizing its cross-chain USDT0 liquidity framework (built on LayerZero) to allow seamless collateralization without the friction of bridging or asset conversion.

• To drive adoption, the partnership includes a $200,000-per-week incentive program and professional market-making from Selini Capital.

What’s Next: Expect a significant migration of retail perpetual traders from centralized exchanges (CEXs) to Hyperliquid as they can now use their existing USDT holdings for stock exposure. If volume holds, we will likely see an expansion of available assets to include broader indices (e.g., S&P 500) and more high-beta tech stocks.

Why it Matters: This isn't just a new feature; it’s a structural bridge between traditional finance and DeFi. By enabling USDT, the industry’s most dominant liquidity source to serve as collateral for traditional assets in a non-custodial environment, Tether is positioning itself as a core architect of the decentralized derivatives infrastructure, not just a stablecoin issuer.

Our Take: Tether’s bet on Hyperliquid is a masterclass in ecosystem capture. By backing a mobile-first gateway like Dreamcash, they are targeting the massive retail base that already uses USDT as a "settlement currency" on CEXs.

QUICK BITES

• OKX snags European payments license for stablecoin and crypto card expansion.

• Global study finds crypto's $300B stablecoin supply is increasingly used as 'everyday money'.

• Sens. Warren, Kim demand CFIUS review of UAE's reported $500 million stake in World Liberty Financial.

YIELD OF THE WEEK

dTRINITY dSTAKE: 7.81% APY

• dSTAKE operates as an ERC-4626 vault where deposited dUSD is supplied to lending protocols to generate returns for sdUSD receipt token holders.

• Initial yields are funded by dUSD reserve revenue, transitioning to interest and rewards from integrated platforms like dLEND once deployments are active.

• Users can withdraw their dUSD based on available vault liquidity, though all unstaking transactions are subject to a 0.1% fee.

GAIB sAID: 14.87% APY

• sAID is a yield-bearing ERC-4626 token minted by staking AID, representing a proportional share in a tokenized portfolio of AI infrastructure and liquidity reserves.

• Unlike the $1.00 peg of AID, sAID utilizes a floating price model that tracks the portfolio’s Net Asset Value (NAV), with updates calculated and applied on the first of every month.

• Capital is allocated toward GPU and robotics financing alongside a stable buffer of T-bills and stablecoins, while the token itself remains tradable and composable across DeFi platforms.

Midas mF-ONE: 12.01% APY

• mF-ONE is a tokenized vehicle tracking Fasanara yield strategies, which are managed by Fasanara and backed by a combination of off-chain assets and on-chain liquidity.

• The token features an auto-compounding price model for yield and provides instant redemption capacity through a scheduled refill cycle.

• Participation is restricted to qualified investors or those meeting a minimum investment threshold of $150,000, and tokens are only transferable to eligible parties.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.