
DeFi lending rates normalise as leverage flushes out of perps
Borrow costs on major money markets fell below 6% for the first time since spring, signalling a calmer positioning backdrop.
Lending, DEX volumes, yields, exploits and protocol governance.

Borrow costs on major money markets fell below 6% for the first time since spring, signalling a calmer positioning backdrop.

On-chain order books are closing the latency gap with centralised venues.

Fixed-rate vaults and institutional borrowers are changing the shape of decentralised credit, pulling total value locked back toward multi-year highs.

Prime brokers now accept tokenised bills as margin, pulling idle cash out of stablecoins.

Short-dated government debt remains the dominant real-world asset on public chains.

Underwriters are cautiously expanding cover limits for audited protocols.