Apollo Crypto to Manage USDC-Denominated Tokenized Strategy mEVUSD

Odaily News Apollo Crypto announced that it will manage a USDC-denominated tokenized yield strategy product named mEVUSD, jointly developed by non-custodial staking infrastructure provider Everstake and on-chain investment platform Midas. This strategy aims to convert idle stablecoins into yield-generating digital assets, generating returns through funding rate spreads and interest rate arbitrage, rather than relying on the price appreciation of crypto assets.

According to the announcement, Apollo Crypto will serve as the risk management and strategy curator, responsible for actively managing this tokenized investment portfolio. The strategy will diversify lending and engage in market-neutral basis trading across mainstream DeFi protocols such as Aave, Morpho, and Pendle to mitigate directional market risk. (The Block)