The new $USDaf from Asymmetry Finance is closing in on $5MM in borrows, with over 100% yield in $CRV and $DAI

Asymmetry Finance’s new USDaf stablecoin is rapidly gaining traction, with the protocol reporting that USDaf borrows are approaching $5 million shortly after launch. USDaf is a USD‑pegged stablecoin built as a fork of Liquity v2 (via the USDaf-v2 codebase), using BTC and yield‑bearing stablecoins as collateral and an adaptive interest‑rate mechanism to manage borrowing demand. When users open “troves” and borrow USDaf against their collateral, they pay a fixed borrowing fee, and this activity is driving early debt growth and on‑chain usage. On the earning side, Asymmetry has introduced sUSDaf, a yield‑bearing ERC‑4626 vault token built in partnership with Yearn that auto‑compounds and auto‑rebalances USDaf across Stability Pools to optimize returns. According to Asymmetry’s communications, current strategies are delivering over 100% annualized yield paid in CRV and DAI, reflecting stacked incentives from Curve and related DeFi farms on top of the base borrowing economics. The growth of USDaf debt, combined with triple‑digit incentivized yields, positions Asymmetry within the broader trend of new, more capital‑efficient stablecoin designs that rely on on‑chain collateral and liquidity mining incentives to bootstrap adoption and liquidity across DeFi.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• GitHub - asymmetryfinance/USDaf-v2: USDaf - A Liquity v2 fork with BTC and Yield-Bearing Stablecoin collaterals. Immutable by design. (github.com)
• Hacker News (news.ycombinator.com)
• Comprehensive USD.AI Research: Hybrid RWA-Backed Stablecoin ... (kkdemian.com)
• DefiLlama (defillama.com)
• Earn | Asymmetry (docs.asymmetry.finance)

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