All yield-generating protocols on Monad (DeFi map)
Monad is now ~6 months past mainnet (launched Nov 24, 2025), with chain-wide TVL around $390M and stablecoin supply over $400M. The yield stack has matured noticeably since launch.
Here's a clean breakdown of where yield actually comes from, what risk you're taking, and where liquidity is today.
1) Fastlane (
@0xFastLane)
Sector: Liquid Staking
Security: Audited (Cantina, Spearbit)
Products: shMON, MEV-integrated LST, account abstraction stack
Yield Source: Validator rewards MEV protocol incentives
APY: ~12%–16% (variable)
Liquidity / TVL: $100M
Notes: Core LST primitive. Lowest-risk yield on Monad. Deeply integrated across the stack.
2) Curvance (
@Curvance)
Sector: Lending / Money Markets
Security: Audited (Trail of Bits, Spearbit, TrustSec)
Products: Lend, borrow, one-click leverage
Yield Source: Borrow interest incentives Net Stablecoin Supply
APY: ~5%–7% Liquidity / TVL: ~$55M
Notes: Institutional-grade lending. Conservative yield. Raised $4M strategic round in November.
3) Neverland (
@Neverland_Money)
Sector: Lending Security: Audited (Composable Security)
Products: Lend, borrow, looping, veTokenomics
Yield Source: Borrow interest emissions Net Stablecoin Supply
APY: ~8%–12% (USDC pools ~8.5%)
Liquidity / TVL: ~$40M (with ~$100M borrowed)
Notes: Top revenue protocol on Monad. ~$7.9M annualized fees. Higher risk than Curvance, higher upside.
4) Kuru (
@KuruExchange)
Sector: DEX / CLOB / Launchpad
Security: Audited (Spearbit, Cantina)
Products: On-chain CLOB, Kuru Flow aggregator, LP vaults, launches
Yield Source: Trading fees emissions
LP Vault APY: ~1%–5% on majors; triple-digit (highly variable) on smaller pairs
Liquidity / TVL: ~$0.9M–1.5M
Notes: Crossed $1B cumulative volume. High emissions-driven yield on long-tail pairs.
5) Mu Digital (
@MuDigitalHQ)
Sector: RWA
Security: Audited (SlowMist, Hacken)
Products: Tokenized real-world yield
Yield Source: Off-chain RWA returns
APY: ~4%–5% Liquidity / TVL: ~$12M–15M
Notes: Lower volatility, lower upside. TradFi-style yield.
6) Pingu Exchange (
@PinguExchange)
Sector: Derivatives (Perps)
Security: Audited (Shellboxes)
Products: Perps, structured yield, isolated margin
Yield Source: Funding rates LP fees incentives
APY: ~15%–20% (strategy dependent)
Liquidity / TVL: Early
Notes: Active LP / market-making yield, not passive. PINGU token live.
7) Nad Fun (
@naddotfun)
Sector: Launchpad / Speculative
Security: Audited (Zenith, Beosin)
Products: Token launches
Yield Source: Primary allocations
Small Notes: Pure speculation, not passive yield.
8) Kintsu (
@Kintsu)
Sector: Liquid Staking / Yield Vaults
Security: Audited (Spearbit)
Products: sMON liquid staking SuperMON curated vault Yield
Source: Validator rewards MEV curated DeFi strategies
APY: sMON ~10%–13%; SuperMON ~14.5% Liquidity / TVL: SuperMON crossed $100M shortly after launch in Jan 2026
Notes: Core LSD layer automated yield. SuperMON routes across Uniswap, Morpho, Curvance, Euler, Kuru, LFJ.
9) Magma (
@MagmaStaking)
Sector: Liquid Staking
Security: Audited Products: gMON, MEV-optimized LST with 100% buyback-and-burn
Yield Source: Validator rewards MEV APY: ~10%–13% (variable) Liquidity / TVL: Significant share of LST market
Notes: First MEV-optimized LST on Monad. One of four major LSTs alongside Fastlane, Kintsu, and aPriori.
10) Perpl (
@perpltrade)
Sector: Derivatives
Security: No public audit disclosed
Products: Perp CLOB, LP market making Yield
Source: Trading fees funding rates
APY: Variable (strategy dependent) Liquidity / TVL: Early
Notes: Active LP/MM strategies required.
NOTE: If any teams or users would like to comment, educate, or dispute the points above, feel free to do so in the comments.
How Monad yield stacks up today...
Low-risk base yield: Fastlane, Kintsu, Magma, Curvance
Mid-risk enhanced yield: Neverland, Mu Digital, SuperMON
High-risk, high-reward: Kuru, Pingu, Perpl
Speculative upside: Nad Fun
Monad now covers:
✅ Liquid staking (4 major LSTs)
✅ Lending (Curvance, Neverland)
✅ RWA yield
✅ DEX LP / CLOB market making
✅ Derivatives yield
✅ Curated yield vaults (SuperMON)
Six months in, the chain has gone from "yield primitives exist" to "real yield stack with $390M TVL, $400M in stables, and $1B cumulative DEX volume on a single native venue." Still early, token unlocks start in November, but the DeFi base is no longer empty.