Is your digital dollar still 'lying flat'? Something called "yield based stablecoins" is quietly changing the rules of the game, just like the "Yu'ebao" in the crypto world, allowing your stablecoins to generate money on their own. In the past year, it has skyrocketed by 382%, with a total size exceeding $11 billion, but this may just be the beginning. DeFi Stablecoin Simply put, the difference between it and USDT/USDC is like a current deposit and "Yu'ebao". What you hold is no longer 'dead money', but 'living money' that can share the returns of underlying assets. These returns either come from real-world assets such as US Treasury bonds (RWA), or from advanced gameplay like Ethena's on chain hedging arbitrage. Essentially, it transforms stablecoins from a payment tool into an entry-level wealth management product that everyone can participate in. Why do you think it has enormous potential? Because it addresses a global demand: many people want to hold US dollars to preserve their value, but traditional channels have high barriers to entry and low interest rates. Yield based stablecoins fill this gap perfectly. Now, with giants like BlackRock entering the market, regulation is gradually becoming clearer, and it can be said to be standing on the wind. Taking a share of the 250 billion yuan stablecoin market and even challenging the 7 trillion yuan traditional money market is too imaginative.