With the markets being this choppy, there aren’t too many tokens I feel comfortable holding. It’s best to stick to projects with real adoption and revenue. That’s why I like Stablecoin protocols; they’re capturing 60 %–75 % of all crypto protocol revenue each day. Here’s some of the ones worth watching: Newer Tokens: • @gizatechxyz: AI agents (ARMA) that auto-optimize stable yields w/ consistent 8 to 15% targets. Just crossed $30M in Assets Under Agent, 50k+ unique wallets w/ $3B+ agentic volume & 600k+ autonomous txs, proving real usage along with fast growth. • @mamo: Automatically reallocates your stablecoins in the background so they’re always earning, without you managing anything. $18M AUM and 100% of platform fees returned to token holders. Providing similar use-case depth to Giza across $BTC & $USDC harvesting. • @stbl_official: Lets you mint stablecoins (USST, YLD) that earn yield automatically, backed by real-world assets. Buybacks going live with a $1M STBL acquisition planned, along w/ new peg mechanism that aims to tighten stability. • @solsticefi: Uses a market-neutral trading strategy so its stablecoin ($USX) users earn steady returns even when the market is volatile. Proven results with ~3 years of live testing giving 16.2% trailing 12-mo APY. $273M TVL from 1-click ~3.08% to advanced ~35.14% APY strategies. •@Plasma: It is purpose-built for global stablecoin payments, featuring zero-fee USDT transfers meaning users don’t need a separate gas token. Now contributing more than 1% of the on-chain dollar supply with $1B+ TVL. The PA action has been terrible since launching. BLOCKCHAINS • @ethereum: Dominant settlement layer, almost all stablecoin transactions already settle here, making ETH the base layer for digital dollars. ≈55% of stablecoin supply is on ETH with over $2.82T monthly stablecoin volume (ATH in Oct). • @KeetaNetwork: A payments-first chain, built for instant compliance-ready stable transfers. Like Visa but on-chain using DAG + parallel tx. Launching KUSD (KYC-compliant USD stablecoin) for institutions with Keeta Card, Pay & Dex already live with ongoing Roadmap V2. Issuers • @HyperliquidX: Most of its trading volume is USDC-settled, making $HLP a proxy for stablecoin activity while capturing real fee revenue. $80B+ cumulative volume, 300k+ traders, and $25M+ in protocol revenue YTD show it’s emerging as one of the most sustainable “non-stablecoin” ways to gain stablecoin exposure. ISSUERS • @ethena_labs ($USDe): A delta-neutral stablecoin backed by staked ETH + hedges. Over ~$5B TVL w/ $360M ENA buybacks in 2025 (as of Sept), Also launched JupUSD on Jupiter’s stack. • @SkyEcosystem ($USDS / sUSDS): Mint a decentralized dollar w/ upgraded stablecoin yield-bearing option. Stablecoins supply up to $9.2B ( half USDS/half DAI). $81M USDS already used to buy back $SKY. DEFI PRIMITIVES • @0xfluid: All-in-one DeFi hub, enabling users to seamlessly access lending, vaults and DEX from one unified interface with some innovative features. Results are pretty evident, so far fluid has achieved $6B+ market size, $2.5B active loans, $120B+ volume along w/ $15M+ run-rate revenue. • @aave: Blue-chip lending market with native borrow and lend for stablecoins the same way banks handle deposits and loans. $GHO + $55B TVL, with nearly $1T all-time loans & 94k AAVE (~$22M) bought back since May w/ a YTD revenue of $105M in 2025. • @CurveFinance: The main exchange where most stablecoin swaps happen with almost zero price slippage (deep low-slippage pools). Core venue for stable pairs and yield routes with $11B volume in Oct (6-month high) and a TVL of $2.34B. • @pendle_fi: Turns the yield from stablecoins into a tradable asset by splitting yield into tradable PT (principal) / YT (yield) for fixed/variable APY. Heavy stablecoin share with ~$46.4M annualized revenue and >$10B TVL in 2025 RWA BRIDGES • @OndoFinance ($USDY): A stablecoin backed by U.S. Treasuries so holders earn real-world interest. Working in collaboration with Wellington, BlackRock, Franklin Templeton, WisdomTree, Morgan Stanley. Available across major chains with 147 integrations & $1.47B TVL. •@maplefinance ($syrupUSD): A credit-backed stable coin backed by institutional lending, not crypto collateral. More than $5B AUM with $2.16M monthly revenue ATH (~$26M annualized). 25% token buybacks announced with syrup stables coming soon as Aave collateral. There are definitely some risks involved. Recently we saw xUSD and deUSD depeg. Make sure you understand how the stablecoins are collateralized and where the revenue comes from. There are hundreds are stablecoin protocols out there so I’m sure I’ve missed a few. Let me know!