Founder Playbook #1 What would a Solana DeFi founder do if he was just a user? 🎙 Jorge @jorge_rl02 Founder of @LinceFinance 💡 On his own protocol Jorge doesn’t believe in fixed strategies, his approach changes with market conditions. Right now, he expects continued downside → capital preservation first. • Full exposure to stablecoins • Strategy: Vault Breaker on Lince • Yield: ~10–11% APY • Diversified across multiple underlying protocols 🔄 Outside his protocol Choosing was tough... Jorge actively follows many Solana projects and sees several as underrated. Here are the 3 strategies he’d run today: • $yUSD - @synatraxyz → Targeting ~23% ROI on USDC in 2025 • $RETF - @RECCFinance → ~14% APY, backed by real estate → Real yield, not narrative yield • @FlashTrade – Perps LP → 10–20% APY → Flexible exposure: USDC only, majors, or even stocks 🧠 My takeaway Two important signals here: • Strategies are market-dependent, not static • Founders diversify across the ecosystem, not just one protocol This is builder-level thinking. Follow @Dadivan_sol for more Founder Playbook and weekly strategies straight from Solana builders.

All my Solana friends are in Berlin for Solana Summit today. I'm in Madrid catching up with friends. 😅 Wish I was there with you all. Enjoy every panel, side event, and networking session for me. See you at the next one 🫡

2 years ago Kamino collateral was mostly $SOL, JitoSOL, stablecoins. Today you can borrow against home equity loans, reinsurance products, private credit, tokenized stocks and soon SpaceX shares. That's a much bigger story than APY.

🫡 Hidden Upside Radar - W24 2026 APY tells you what you earn today. This tells you what you're actually positioned for. ⸻ 1️⃣ $ONyc – @onrefinance 11.83% APY | Points: 9/10 | Tier: B ↑ APY rank #3 → Total upside rank #1 Nine straight weeks at #1. ▼0.03% delta. Nine consecutive weeks of near-zero movement while everything else rotates, spikes, and compresses. Multiplier stack: → 8x on yield trading via @ExponentFinance → 6x looping ONyc/USDC on Kamino or Loopscale → 4x via the OnRe Growth Vault on Loopscale Exponent → 3x on lending Nine weeks. Zero volatility. That's institutional reinsurance-backed yield. ⸻ 2️⃣ $USDC – @loopscale @ExponentFinance (OnRe Growth Vault) 15.81% APY | Points: 8/10 | Tier: B 🆕 APY rank #2 → Total upside rank #2 Strongest new entry this year. Combines lending, looping, fixed-yield trading, and multi-venue execution in one position. Points structure: → Loopscale points → 4x ONyc external points on top 15.81% base APY. Two unconfirmed tokens accumulating simultaneously. The regular OnRe vault has been on this Radar for weeks. This is the upgraded version at nearly double the APY. ⸻ 3️⃣ $sHYUSD – @hylo_so 9.03% APY (▼0.97%) | Points: 8/10 | Tier: B Down from 13.68% seven weeks ago. Still #3 on total upside because points remain intact. Hylo Season 1 active. Kamino vaults running 7.5x XP on hyUSD pairs. Token unconfirmed. No fixed end date. APY compression during an active season doesn't kill the accumulation thesis. ⸻ 4️⃣ $USDC – @loopscale (OnRe vault) 8.05% APY (▼0.02%) | Points: 7/10 | Tier: B Holding steady. Same double stack: Loopscale points ONyc external points. 8.05% APY here versus 15.81% in the Growth Vault. Same tokens. Higher APY. Same protocol. Existing holders need to decide if the migration makes sense for their position size and risk tolerance. ⸻ 5️⃣ $USD* Junior – @perena 17.22% APY (▲1.78%) | Points: 0/10 | Tier: A★ APY rank #1. Total upside rank #5. Nine straight weeks of violent swings. ▲1.78% this week. Zero points. Zero active accumulation. Petals closed. Token confirmed. Claim window coming. Highest APY on the board. Lowest total upside score. That's exactly what this Radar exists to show. ⸻ 6️⃣ $PST – @humafinance 8.6% APY | Points: 6/10 | Tier: B First claim landed June 12. Second claim live this week, June 26. Most imminent confirmed distribution on the entire board. Concrete dates beat speculative timelines every time. ⸻ pbUSDC is not on this week's Radar following its removal from the leaderboard. The $LAB situation and vault drawdowns made the removal necessary. High APY without transparency and capital preservation isn't yield. It's undisclosed risk. ⸻ Weekly signals 👇 → ONyc: 9 weeks at #1, nine weeks of near-zero delta while everything else rotates weekly → OnRe Growth Vault: enters at #2, same double stack as the regular OnRe vault, 15.81% APY instead of 8.05% → PST: June 26 second claim live this week, most imminent confirmed distribution on the board → USD* Junior: APY rank #1, total upside rank #5. Clearest demonstration of why APY rank ≠ total upside rank ⸻ APY rank ≠ total upside rank. That gap is where the alpha lives. Full leaderboard every week. Hidden Upside Radar alongside it. 🫡

A few months ago, most yield on Solana came from speculation. This week: • $ONyc 20% APY • $PRIME 12% APY • $rkuSOL loops launching with incentives • SpaceX shares coming onchain The gap between traditional assets and DeFi keeps getting smaller. And @kamino sits in the middle of it.

🫡 Top Stable Yield-Bearing Tokens of the Week [W24] 2026 Ranked by APY weekly delta ⸻ 1️⃣ $USD* Junior – @perena 17.22% APY (▲ 1.78%) Extends its lead. → Junior tranche demand remains extremely strong. Capital continues rotating into higher-risk structured yield products. ⸻ 2️⃣ $USDC – @loopscale @ExponentFinance 15.81% APY (🆕 New Entry) Big debut. → The new OnRe Growth Vault combines lending, looping, fixed-yield trading, and multi-venue execution into a single strategy. One of the strongest new yield products to enter the board this year. ⸻ 3️⃣ $ONyc – @onrefinance 11.83% APY (▼ 0.03%) Still remarkably stable. → Reinsurance-backed yield continues offering one of the most consistent risk-adjusted returns across Solana. ⸻ 4️⃣ $CASH – @kamino (Maple Market) 10.46% APY (🆕 New Entry) Institutional credit arrives. → Maple-powered credit markets continue attracting stablecoin liquidity as institutional yield demand grows. ⸻ 5️⃣ $sHYUSD – @hylo_so 9.03% APY (▼ 0.97%) Compression continues. → Yield has normalized further, though sHYUSD remains one of Solana's most battle-tested DeFi-native stable products. ⸻ 6️⃣ $USDG – @kamino ( @maplefinance Market) 9.02% APY (▲ 1.74%) Strong rebound. → Demand for institutional-grade stablecoin credit exposure is accelerating across Kamino markets. ⸻ 7️⃣ $PST (Classic, no lockup) – @humafinance 8.6% APY (→) Unchanged. → PayFi credit yields remain exceptionally stable despite growing competition across stablecoin markets. ⸻ 8️⃣ $USDC – @loopscale (USDC OnRe Vault) 8.05% APY (▼ 0.02%) Holding steady. → Lower-volatility RWA-backed yield remains attractive for capital seeking consistency over maximum APY. ⸻ Weekly signals 👇 • $USD* Junior strengthens its lead as structured yield demand remains dominant • Loopscale Exponent's OnRe Growth Vault enters immediately at #2 • Institutional credit products ($CASH, $USDG) gaining momentum • ONyc remains one of the most stable high-yield products on Solana • Stable yields increasingly split between structured risk and institutional credit markets ⸻ One notable change this week: I've removed $pbUSDC from the leaderboard following the recent disclosure around PiggyBank's $LAB position and the resulting vault drawdowns. The situation reinforces an important point: High APY alone isn't enough. Transparency, risk management, and capital preservation matter just as much as yield. DeFi isn't dead. The industry is simply maturing, and users are demanding better disclosure, clearer risk frameworks, and stronger accountability from protocols. That's the stable yield leaderboard I'm tracking this week 🫡

Looped & Rated #001 6 loops. 2 scores each. Platform Asset security. Same framework. Every edition. ↓ 1️⃣ $ONyc / $USDC - @kamino 20.53% APY · 2.5x Loop 🟢 Platform: 10/10 🟢 Asset: 8/10 60% LTV Chainlink Pyth $90M TVL $6.12K/week USDC rewards The only loop this edition with a perfect Platform Score. ⸻ 2️⃣ $eUSX / $USDG - @kamino 17.30% APY · 4x Loop 🟢 Platform: 9/10 🟢 Asset: 8/10 75% LTV Halborn ×3 Sec3 audit coverage $10.7M TVL $2.50K/week USDG rewards Strong infrastructure. Liquidity is the main thing keeping this from scoring higher. ⸻ 3️⃣ $USDe / $PYUSD - @kamino 30.34% APY · 12.5x Loop 🟡 Platform: 8/10 🟢 Asset: 9/10 92% LTV Multi-oracle setup $275M TVL Highest leverage in this edition. The opportunity is obvious So is the liquidation risk. ⸻ 4️⃣ $JLP / $USDC - @jup_lend 103.65% APY · 6.4x Loop 🟡 Platform: 7/10 🟢 Asset: 9/10 85% LTV Chainlink Pyth Redstone $227M TVL Highest APY on the board. Not a typo. JLP fees are elevated from strong perpetual trading activity. ⸻ 5️⃣ PT-USX / $USX - @Loopscale 22.79% APY · 10x Loop 🟡 Platform: 5/10 🟢 Asset: 10/10 90% LTV $13.1M market Fixed yield Highest Asset Score. Lowest Platform Score. That's the trade-off. ⚠️ Position matures September 16, 2026. ⚠️ Exiting before maturity may result in a discount. ⸻ 6️⃣ $sHYUSD / $USDC - @Loopscale 10.37% APY · 5x Loop 🟡 Platform: 5/10 🟡 Asset: 6/10 80% LTV $1.7M market ⛔ Current available liquidity: $0 Existing positions remain active. New entries are unavailable until capacity returns. ⸻ What stood out this edition • Kamino claims 3 of the top 4 spots. • The highest APY (103.65%) comes from JLP fee generation, not token emissions. • PT-USX earns a perfect Asset Score but sits on the lowest-rated platform in the rankings. • Two loops clear 30% APY. Only one does it without pushing leverage above 10x. ⸻ Scoring Framework Platform Score Audit · Contract Age · LTV Buffer · Oracle Design · Liquidity Asset Score Audit · Track Record · Backing Model · NAV Reliability · Redemption Liquidity 10 points each. Every loop gets both 🫡

A 100% APY loop isn’t automatically better than a 20% APY loop. Sometimes it’s the opposite. Tomorrow afternoon: Looped & Rated #001 6 loops ranked. Each position gets: • Platform Score • Asset Score • Security Score Because APY without context is just marketing 🫡

🧭 DeFi Loop Radar - Week #24: $USDe / $PYUSD Multiply on @kamino 🫡 Week #17. Vault full. $500M deployed in 24 hours. Zero liquidity left. The call was clear: watch the Ethena Market. Since then, @kamino and the Ethena Risk Committee upgraded it. 🧠 What Changed USDG is out as the debt asset in the @ethena Market. New USDG borrows blocked. PYUSD is in, with a redesigned borrow rate curve built for better looping conditions. Kink introduced at 95% utilization: → 2.5% at target → 5.25% at max Structurally protects the spread between USDe yield and borrow cost. Existing USDG positions can migrate instantly via Kamino's new Debt Swap tool. No manual unwinding required. The market upgraded itself in real time. Capital followed immediately. 🧠 The Setup USDe = Ethena's synthetic dollar. Yield generated through delta-neutral hedging, funding rate arbitrage, and basis strategies across CeFi and DeFi venues. PYUSD = @Paxos's PayPal-backed regulated stablecoin. Borrow PYUSD against USDe on the Ethena Market. The spread between USDe collateral yield and PYUSD borrow cost = the trade. Auto-compounded. One click. Fully on Solana. Key parameters: → Max Leverage: 12.5× → Max Leverage APY: 31.47% → Max LTV: 92% → Average Leverage Taken: 9.62× ⚙️ How It Works One click. Kamino handles the rest. Deposit USDe → borrow PYUSD → swap for more USDe → re-deposit → repeat until target multiplier is reached. USDe yield auto-compounds into the position throughout. Borrow curves maintain profitable looping conditions under normal market dynamics. 📊 What The Market Is Saying Max leverage: 12.5× Average leverage taken: 9.62× 77% of max capacity. Consistently. Same conviction profile as the USDG vault in Week #17. The debt asset changed. The demand didn't. $28M in liquidity available now. ⚠️ Risks - Read These USDe is a synthetic dollar. The risk profile is fundamentally different from USDC or PYUSD. → Synthetic backing risk: USDe depends on hedging venues, custodians, bridge infrastructure, and delta-neutral positions. Hedge-venue failure or sustained negative funding can impact value → Negative carry risk: if USDe yield drops below PYUSD borrow cost, the spread inverts. At 9× leverage, that inversion amplifies fast → 2-point liquidation buffer (92% → 94%): tightest stable buffer in this series. Size carefully → PYUSD issuer risk: Paxos banking partners, regulatory action, or blacklist events can affect the debt asset → Exit liquidity risk: large positions may face slippage or delays in stressed conditions → Smart contract risk: Kamino Ethena layers Highest yield. Most complex risk profile in this series. Same as Week #17. That hasn't changed. 🎯 Why This Is The Trending Loop → 31.47% APY: highest stable loop yield in the series, again → $28M liquidity available now → PYUSD borrow curve redesigned by Ethena Risk Committee for better looping conditions → Debt Swap tool live: existing USDG positions can migrate in one click → 9.62× average leverage: market conviction unchanged through the upgrade → USDe yield auto-compounds directly into position Week #17 was the introduction. Week #24 is the upgraded version. Better debt asset. Better rate curve. Same conviction. $28M deep and open right now. That's the trending loop this week 🧭🫡 ⚠️ Not financial advice. Always DYOR. USDe carries synthetic dollar risks distinct from fiat-backed stablecoins. The 2-point liquidation buffer demands disciplined position sizing. Negative carry risk is amplified at high leverage.

Last week on Solana was a consumer infrastructure & financialization week. Mobile, payments, tokenized assets, prediction markets, and cross-chain connectivity all expanded simultaneously. Meanwhile, new lending primitives, AI tooling, and yield products kept pushing the ecosystem forward. Here's everything you missed in 90 seconds👇 ⸻ 🏦 Financial Infrastructure Keeps Expanding • @JupiterExchange launched onchain credit for the $10B TCG market → Verified graded cards can now be used as collateral for fixed-term USDC loans • @Backpack introduced Backpack Securities → Move stocks between traditional brokerage accounts and Solana • @bulktrade launched Season 1 pre-deposits → Already surpassed $20M deposited • @phygitals now enables borrowing and lending against TCG cards directly The line between traditional finance and onchain finance keeps getting thinner. ⸻ 📱 Solana Mobile Hits New Milestones • @solanamobile surpassed 1,000 live apps in the dApp Store • Portfolio tracking is now live inside Seed Vault Wallet • @TradeNeutral launched on the Solana Mobile dApp Store → Includes a 1.2x NT Points boost The mobile ecosystem continues growing faster than most expected. ⸻ 🧩 Trading, Markets & Yield • @ExponentFinance partnered with @raikucom → Fixed-rate swaps, leveraged yield exposure, and vault access via Raiku SOL Ecosystem Vault • @raikucom launched rkuSOL → Solana's first LST powered by blockspace revenue • @PhoenixTrade launched cross-chain deposits → Fund accounts directly from Ethereum, Base, Arbitrum, and HyperEVM • @FlashTrade V2 Beta opened to everyone • @HastraFi surpassed $10M distributed interest to PRIME holders Trading infrastructure keeps becoming more sophisticated and capital efficient. ⸻ 🔗 Cross-Chain & Network Expansion • @axelar integrated Solana → Cross-chain messaging and asset transfers now available across Axelar-supported ecosystems • @MoonPay launched MoonAgents Desktop → Connect ChatGPT or Claude, automate actions, move funds, and onramp stablecoins with zero fees Cross-chain and AI-powered finance continue converging. ⸻ 🎲 Prediction Markets & New Market Structure • @JupiterExchange integrated Forecast into Jup Predict • New Prop AMM model enables multiple market makers → Better liquidity → Better pricing → Better prediction market efficiency Prediction markets remain one of Solana's fastest-moving sectors. ⸻ 🏛️ RWAs & Tokenized Assets • @sunrisedefi and Meteora launched Dynamic Assets • First asset: $SV151 → Tokenized ownership of sealed Pokémon SV151 packs → Redeemable for physical collectibles • $STRC fell below $92 → Discount to $100 par widened as broader market weakness pressured demand Tokenized assets continue expanding beyond traditional finance into collectibles. ⸻ 🔐 Privacy, Security & Wallet Infrastructure • @ore launched a quantum-safe Solana smart wallet → Protected by Ed25519 Falcon 512 keypairs • @UmbraPrivacy teased a private payroll system ahead of its Q2 livestream • @Arcium launched its Network Explorer → Live computation feed, grid analytics, and per-program visibility Privacy and security tooling continues maturing rapidly. ⸻ 💳 Payments & Consumer Adoption • @LinceFinance partnered with @SP3NDdotshop → Spend stablecoins on Amazon and eBay purchases • @helium_mobile was acquired by @joinnoblemobile • @rektdrinks launched SOL Berry Consumer adoption keeps finding new distribution channels. ⸻ 📈 Ecosystem Metrics • Solana applications generated $68M in revenue during May → Up 16% month-over-month • @HubraApp crossed 100K SOL staked on its validator Revenue and network participation continue trending upward. ⸻ ⚠️ Risk & Reality Check • @piggybank_fi reported drawdowns across vaults: → USDC Vault: ~15% → SPYx: ~12% → JitoSOL: ~9% Cause: • Team purchased discounted locked $LAB • Hedged with shorts • Funding rates turned heavily negative • Hedge became uneconomical • Position became effectively unhedged The locked $LAB position is currently worth ~$1.35M on paper but remains illiquid until August. A reminder that even yield strategies carry execution and market-structure risk. ⸻ 📌 What This Week Showed Solana is rapidly evolving into a full financial operating system: • Onchain credit expanding beyond crypto assets • Solana Mobile reaching ecosystem scale • AI agents integrating into financial workflows • Cross-chain capital becoming easier to access • Tokenized assets moving beyond stocks into collectibles • Institutional-grade trading infrastructure continuing to mature The biggest trend isn't one protocol. It's the growing connection between finance, mobile, AI, and real-world assets, all on Solana. 🫡

The goal of my $10K allocation was never to avoid risk. It was to avoid having a single risk decide the fate of the entire portfolio. This week was a reminder that yield matters. But understanding where it comes from matters even more 🫡

SOL chops. Alts bleed. CT argues about the next move. Meanwhile, USDG/PYUSD Multiply sits at 24.71% APY on @kamino One of the highest-yielding stablecoin strategies available right now. Noise is temporary. Yield compounds forever 🫡

Quick explanation of the @piggybank_fi situation: A month ago, PiggyBank put $100k into a discounted locked $LAB position and hedged it with shorts. The trade thesis was simple: capture the discount between the locked tokens and market price. Then $LAB went crazy. Thin liquidity, wild price swings, and expensive funding made the hedge too costly to maintain, so the team closed the short. They still hold the locked $LAB, which is worth $1.35M on paper today, but since it can't be sold until unlocks start on August 14, they're excluding it from NAV for now. That's why vaults are showing drawdowns today. Not a hack. Not bad debt. A basis trade that got messy, with the final outcome still depending on what happens after unlock.

A year ago, “reinsurance yield” wasn’t part of the average DeFi vocabulary. Today, Kamino is increasing ONyc capacity because demand for leveraged reinsurance exposure keeps growing. That’s a pretty good summary of where RWAs are heading on Solana.

🫡 Hidden Upside Radar W23 2026 APY tells you what you earn today. This tells you what you're actually positioned for. ⸻ 1️⃣ $ONyc – @onrefinance 11.86% APY | Points: 9/10 | Tier: B ↑ APY rank #3 → Total upside rank #1 Eight straight weeks at #1. ▼0.02% the most stable delta on the board, again. Multiplier structure updated this week. Exponent moved to 8x, highest in the ONyc ecosystem: → 8x on yield trading via @ExponentFinance ← most underused entry → 6x looping ONyc/USDC on Kamino ($56M TVL, 21.54% APY) or Loopscale ($29M TVL, 20.55% APY) → 3x on lending The 8x Exponent multiplier has been live. Most people still running the 6x loop. That gap is alpha hiding in plain sight. Token unconfirmed. Points accumulating. Eight weeks running. ⸻ 2️⃣ $pbUSDC – @piggybank_fi 14.13% APY (▼0.66%) | Points: 8/10 | Tier: A Slight compression. Holding the benchmark position. Distribution mechanics unchanged. 5% protocol revenues over 20 months. Live forecast tracking above projections. S1 runs through December 31. Tier A because the mechanics are confirmed, not speculative. ⸻ 3️⃣ $sHYUSD – @hylo_so 10.00% APY (▼0.92%) | Points: 8/10 | Tier: B Compression continuing. Down from 13.68% five weeks ago to 10.00% this week. Still #3 on total upside because Hylo Season 1 is active. Kamino vaults running 7.5x XP on hyUSD pairs. Token unconfirmed. No fixed end date. The points case is intact even as APY normalizes. ⸻ 4️⃣ $USDC – @Loopscale (OnRe vault) 8.07% APY (▲0.32%) | Points: 7/10 | Tier: B Third straight week of recovery. Back above 8% after threatening the 7% floor. Double stack intact. Loopscale points and ONyc external points simultaneously. One deposit. Two unconfirmed tokens. Quiet but consistent. ⸻ 5️⃣ $USD* Junior – @perena 15.44% APY (▼2.30%) | Points: 0/10 | Tier: A★ Cooling after last week's ▲6.77% surge. Still #1 on the APY leaderboard. Eight consecutive weeks of violent swings both directions. Tranche rotation is fully structural now. Petals closed. Token confirmed. Claim window still coming. The A★ is protocol-level. At 15.44% APY while you wait, the senior position remains the cleaner hold for anyone who doesn't want weekly volatility. ⸻ 6️⃣ $PST – @humafinance 8.6% APY | Points: 6/10 | Tier: B The most imminent confirmed distribution on the entire board right now. → June 8 eligibility checker (days away) → June 12 first claim → June 26 second claim Everything else on this board has unconfirmed timelines. PST has dates. That's why it's #6 ahead of higher APY protocols with technically confirmed tokens. ⸻ 7️⃣ $PYUSD – @project0 10.22% APY | Points: 5/10 | Tier: B 🆕 New Entry Three different stables in three weeks. USDS, USDC, now PYUSD. The protocol keeps rotating as utilization shifts. Token confirmed. Points active. MRGN match live. TGE announced for 2025, missed, no update since. Communication silence caps this at #7 regardless of which stable is leading that week. ⸻ Weekly signals 👇 → ONyc: 8 weeks at #1, the 8x Exponent multiplier is the most underused entry point in its ecosystem → PST: June 8 eligibility checker days away, most imminent confirmed distribution on the board → USD* Junior: ▼2.30% cooling, eighth consecutive volatile week, tranche rotation fully structural → P0: third stable rotation in three weeks, USDS → USDC → PYUSD. Same tier. Same silence. ⸻ APY rank ≠ total upside rank. That gap is where the alpha lives. Full leaderboard every week. Hidden Upside Radar alongside it. 🫡

While the timeline is busy debating the next move for $SOL, I'm looking at yield. STKESOL/SOL Multiply on @kamino is currently the highest-paying SOL loop: → 23.92% APY at max leverage → 70 STKESOL in weekly rewards When others panic sell, opportunities start showing up. Stake. Loop. Accumulate. Then let time do the heavy lifting 🫡