top-notch protocols turning institutional strategies into onchain yield a dollar token can give you exposure to crypto funding, gold carry, Turkish rates, or corporate credit here’sre 7 protocols i’m watching that bring institutional strategies and income sources into DeFi: → @tori_finance - global money-market carry Tori combines money-market strategies, futures arbitrage, and calendar spreads through trUSD / strUSD you have access to yield sources beyond crypto trading demand → @ethena - crypto funding and basis USDe / sUSDe draws on perp funding, futures basis, and income from staked assets & liquid stables i look at funding conditions & the backing mix when assessing how much yield it can sustain → @falconfinance - multiple trading strategies USDf / sUSDf combines options, funding arbitrage, staking, and price arbitrage i’m interested in how each strategy contributes to returns as market conditions change → @AxisFDN - arbitrage across assets and venues Axis uses its trading infra to capture pricing differences, distributing returns through the USDx / sUSDx structure execution quality & strategy capacity are what i want to understand here → @PikuFinance - FX and emerging-market strategies Piku offers USD/TRY arbitrage, leveraged TRY carry, and Turkish equity basis strategies through its Morini vaults i find the access interesting, but i assess each separately FX arbitrage & leveraged currency carry have different exposures → @Theo_Network - hedged gold carry Theo’s thUSD / sthUSD structure brings together physical gold leasing, short CME gold futures, and Treasury collateral income i have huge position here, very good R/R → @Saturn_Credit - preferred-stock income Saturn connects Strategy’s STRC dividends to sUSDat i treat this as exposure to an issuer’s preferred equity, with credit and dividend risk central to the analysis eventually, onchain distribution can expand access to these strategies and make the resulting positions easier to use across DeFi