Heard about Falcon Finance a few weeks ago. Mainly after reading about @DWFLabs new $250M fund. And most recently, about their TVL growth and overall APY, which got me intrigued. What's @FalconStable, where's the yield coming fro,m and what did they accomplish so far? Let me break it down 👇 The Core Setup: → $USDf is Falcon’s overcollateralized synthetic dollar → Stake $USDf to mint sUSDf, the yield-bearing variant → Base APY sits at 13.2%, but you can boost that up to 19.8% with a 12-month lock → TVL already crossed $245M, with over 90% of $USDf staked → Protocol maintains >107% collateral backing You don’t see this kind of adoption and capital efficiency unless the incentives are working. And clearly, they are. What Makes It Work: Falcon isn’t doing one-trick LP rewards. It’s built a hybrid CeDeFi engine that pulls from: • CEX/DEX arbitrage (funding rate spreads + price discrepancies) • Native staking yield • On-chain LP provisioning • Market-neutral strategies that adapt across cycles You can think of it like a synthetic dollar hedge fund with on-chain rails, diversified sources of yield, transparent dashboards, and aggressive composability. Incentive Layer: The protocol just introduced a points system layered on top of base APY. That means: • You’re not just farming yield • You’re compounding with potential airdrop exposure • Boosted incentives for longer staking terms (up to 1.5x APY) With sUSDf-to-USDf trading at ~$1.03, users are already pricing in the forward value of those boosts, and it still looks cheap compared to what you’re getting back. Pendle Composability: Falcon’s sUSDf is also already live on Pendle with yields north of 20%. This means you can: • Lock in fixed yield • Trade interest rate exposure • Speculate on sUSDf meta with added liquidity And unlike other stables, Falcon supports alt collateral like TON and FET, letting users mint $USDf against their idle bags. That’s a first-mover edge in long-tail asset monetization in my opinion. How It Compares: Each similar product has their own angle, but most are binary bets on how their internal team runs delta-neutral. Falcon’s broader engine offers resilience. It doesn’t rely on one specific arb. It’s more of a dynamic allocator with on/off-chain inputs. Final Take: Early traction is there. Points system is ramping. TVL is moving. And with a real CeDeFi wrapper, institutions will actually be able to touch this. If you’re rotating stablecoin allocations or yield farming strategies this cycle, Falcon’s might be a gud source of yield + exposure to a future airdrop. NFA. DYOR.