Stablecoin’s Yield Risks: All You Need to Know by Piotr - StableWatch

“It’s 2025 and still no risk-free rate in DeFi.” - Piotr, Co-founder & CEO, StableWatch Chasing yield with stablecoins? Not so fast. Piotr from Stablewatch breaks down why DeFi still has no real risk-free rate, even in 2025. From hacks and rug pulls to oracles and misallocated funds, the risks behind today’s 5–12% APYs are real. He details key yield strategies from tokenized T-bills to exotic onchain products—and what to watch for in each. If you're using yield-bearing stablecoins, this is essential listening. --- 00:00 Intro to Yield Risks in DeFi 00:35 Comparing to Risk-Free Rates 01:52 Hacks and Rugs Still Dominate 03:16 Proxy Risk-Free Rates in Aave and Curve 03:52 Yield-Bearing Stablecoin Spectrum 04:28 APY vs Risk Tradeoff 05:02 Common Risk Factors in DeFi Yield 06:15 Key Yield Strategies Explained 07:32 Managed, Algorithmic, and Exotic Tactics 08:44 No True Risk-Free Rate Yet 09:20 Workshop Invite and Wrap-Up --- Explore Upcoming Events 👇 ➣ Stable Summit III: Devconnect • Website: https://www.stablesummit.xyz/ • Email: info@stablesummit.xyz • Apply to Speak/Sponsor: https://partyactionpeople.typeform.com/devconnect2025?typeform-source=www.stablesummit.xyz ➣ Stablecoin Summit: Singapore by XREX & Unitas • Website: https://stablecoinsummit.com/ • Email: team@stablecoinssummit.com • Apply to Speak/Sponsor: https://partyactionpeople.typeform.com/stblcoin3?typeform-source=stablecoinsummit.com ➣ Blockchain Oracle Summit: Devconnect • Website: https://blockchainoraclesummit.io/ • Email: info@partyactionpeople.com • Apply to Speak/Sponsor: https://partyactionpeople.typeform.com/BOS25apply ➣ Listen to the Stable School Podcast Link: https://stableschool.org/podcast ➣ Follow Stable Summit on X Link: https://x.com/stable_summit — About: By Stake Capital Group and Party Action People, and presented by Curve Finance, Stable Summit has been gathering leaders in stablecoins almost quarterly since 2023. Our content is curated through hours of one-on-one research with the leading minds in the stablecoin space. Each program is a highlight reel of what leaders in stables are curious about in real time. Our audience consistently features the full spectrum of the stablecoin ecosystem, from DeFi protocols to institutions, from stablecoin issuers to central banks, and every llama in between.