Credit ratings compress complexity into clarity. In TradFi, they turn products into usable inputs. Unlocking liquidity, reducing search costs, and enabling scale. For the first time, a stablecoin system has crossed that threshold. That stablecoin is @SkyEcosystem USDS

In crypto, if you read a long wall of text on a forum that looks smart but is useless and too verbose, ask ChatGPT if it was AI generated. At @SteakhouseFi we try to avoid looking smart with LLMs saying nothing of interest and being wrong. We focus on clarity.

gShift community Snapshot alert: Season 1 of Coinshift’s public airdrop ends on July 31. As promised, 5% of the total SHIFT supply is allocated to Season 1 participants. We are honoring the earliest users and contributors who believed in csUSDL. For Season 2, an additional 3% has been allocated. It begins on August 1 and is open to both new participants and existing users. Before we dive into what’s ahead, let’s take a moment to reflect on how far we’ve come. We started with a simple vision that every human and business in the world deserves access to low-risk yield. Today, we’re proud to share: - Over $100M in csUSDL TVL - 15+ DeFi integrations (including @pendle_fi , @MorphoLabs , @spectra_finance , @Contango_xyz , @GearboxProtocol and more) - 20bps in protocol revenue earned on idle wUSD capital - 4th largest Morpho Vault with A+ rated risk profile (via Credora, through Morpho) What’s next for csUSDL? It’s evolving into a low-risk, yield-bearing primitive - an onchain buffer layer that protocols can hold in reserve. And this is just the beginning. Over the past month, we’ve been building a regulated product designed to deliver performance across market cycles combining DeFi, CeFi, and TradFi yield strategies. csUSDL will remain at the core of this architecture - powering minting buffers, earning on idle capital, and serving as the settlement layer that bridges onchain liquidity with real-world infrastructure. Thank you to our early partners @Paxos ,@MorphoLabs and @SteakhouseFi and to the ecosystem builders helping bring this vision to life. To our users: Season 1 ends July 31. Season 2 begins August 1. It’s time to SHIFT.

After 9 years on Medium, I am now officially on Substack. My new post examines the often-made comparisons between stablecoins and "wildcat" banks (link in next tweet)

From tokenized treasuries to institutional onchain credit, we are bringing the world to DeFi

Some like steaks. Good week everyone.

the @SteakhouseFi USDC Prime vault on @KaminoFinance is now a shade under $30m AUM and has generated a steady $175k of interest for depositors I love depositing in the Lending Vaults as it means I don't need to micro manage which market my stables go into

Study the history of Scottish Banking

infiniFi Ecosystem Vault is available on @MorphoLabs for USDC Boosted points are available for users supporting liquidity in the infiniFi ecosystem

Broader adoption of Steakhouse products across the institutional space USDT users of Anchorage can now also enjoy Steakhouse USDT in qualified custodian environments