Luis Montealegre

previously Head of Marketmaking at SFOX @sfox, Head of Business Development & Sales at Turtle @turtledotxyz | DM on telegram:

[Luis Montealegre @luis_trenches]

👀

[IkeBillion.eth @Ikebillion_]

This pool is paying you three different ways to do one thing.

I came across the USD3/frxUSD pool on @CurveFinance while going through the @3janexyz farm and the yield stack stopped me.

@Fraxfinance and 3Jane are stacking USDC and wFRAX incentives running between 13.60% and 81.63% on top of a 3.69% base APY. Then there are 100,308 JANE per epoch flowing to LPs on top of all of that.

The early window is where the real edge is. At $1.4M TVL, your share of those epoch emissions is still meaningful.

Once this pool matures and capital floods in, that JANE allocation gets diluted across a much larger base. The incentives do not disappear, they just get divided more ways.

USD3 is worth understanding before you deposit. It is a claim on 3Jane's credit book rather than a standard 1:1 stablecoin, which is part of what makes the yield this interesting. Size accordingly.

If you understand what you are holding, the yield stack here is genuinely hard to find elsewhere right now.

[Luis Montealegre @luis_trenches]

@3reps One of the best people I've met in space!

New chapter 🔥 excited to see what's next

[Luis Montealegre @luis_trenches]

👀 @gmtrade_xyz

[Luis Montealegre @luis_trenches]

👀👀

[Pharos @PharosWatch]

Stablecoin Spotlight of the Week: frxUSD

Most stablecoins are built to hold a peg and hope the market agrees. frxUSD by @fraxfinance has gone further than that.

USP by @piku_dao, USG by @Tangent_fi, and USSD by @SonicLabs, to name a few all route through frxUSD as a peg keeper. Other stablecoins are building on top of it. frxUSD has become the infrastructure other stablecoins depend on.

Here is what our data says:

Overall Score: B (72/100)
Peg Stability: A+ (99/100)
Exit Liquidity: A- (80/100)
Resilience: B+ (78/100)
Decentralization: B+ (75/100)
Dependency Risk: C (58/100)

DEWS: 10/100 — Calm
Market Cap: $138M 90D Net Flow: +$19M

450 days streak without a depeg event. No F grade across any sub-dimension. Among the 353 stablecoins Pharos tracks, that combination is rare.

The exit liquidity picture is one of the strongest we have seen in this series. A 93-rated atomic redemption backstop through enshrined custodians gives frxUSD one of the most reliable exit routes among crypto-native stablecoins.

On the DEX side, 60+ pools with a low 0.11 HHI across multiple chains show genuinely diversified liquidity rather than concentration in one or two venues. 60+ pools across multiple chains is what stablecoin infrastructure looks like at scale, and that is by design. @samkazemian built frxUSD to be used everywhere, not just held somewhere.

The cross-chain architecture is where frxUSD separates itself in a way that has gone largely unnoticed. When the LayerZero incident hit and stablecoins using the OFT standard took collateral damage, frxUSD was unaffected.

It uses OFT, but on its own terms. Frax runs its own DVN and its own libraries that no external entity can upgrade, operating on a 3/3 DVN consensus policy moving to 5/5.

frxUSD offers various yield opportunities, including its recent Stake DAO vault currently running at 11.11% APY with $7.25M in deposits. Active AMO strategies across those 60+ DEX pools sustain that yield surface across rate environments rather than depending on any single source.

$19M in net inflows over 90 days. The market is not just watching frxUSD. It is building on top of it.

[Luis Montealegre @luis_trenches]

👀🔥 #building

[IkeBillion.eth @Ikebillion_]

frxUSD had two integrations drop within 48 hours of each other. I do not think people clocked what that means together.

The first one: @0xCoinshift USPC is now a frxUSD PegKeeper. USPC is not just another stablecoin. It is institutional private credit yield brought onchain.

@fraxfinance did not just add a new liquidity partner. They plugged real world lending returns directly into their peg mechanism.

The second one: @piku_dao launched a frxUSD/USP pool on @CurveFinance with $700 WFRAX and 47,000 $PIKU in weekly rewards. They have also put Proposal 33 to a vote, seeking to allocate $20,000 from the PikuDAO treasury directly into that pool, split evenly between frxUSD and USP.

A new protocol did not just integrate frxUSD. They are now asking their community to back it with real treasury capital.

One integration came from the institutional side. The other came from a community DAO building their entire liquidity stack around frxUSD.

Both chose the same stablecoin.

There is a pattern forming here. frxUSD is not just growing its supply. It is becoming the base layer that both ends of DeFi, institutions and emerging protocols, are building on top of.

That is a different kind of adoption.

[Frax Finance ¤⛓️¤ @fraxfinance]

Last week, sfrxUSD was a little over $30M TVL.

This week, sfrxUSD is at $40M TVL 📈

Slowly, then suddenly, frxUSD and sfrxUSD are being adopted as default stablecoins.

[Luis Montealegre @luis_trenches]

@goatv_bk 📠

[Luis Montealegre @luis_trenches]

@pedro_verdades @EFDevcon El único 🐐

[Turtle @turtledotxyz]

DEFI’ING Devcon 🇦🇷

Hosted by Turtle, co-hosted with @lineabuild, @katana, @avax, @gsr_io, @bitscale_capital

🗓️ Nov 21 | 7 PM – 1 AM
📍 Buenos Aires
🎧 DJ set, open bar, top LPs & builders in the room

An evening to unwind, connect, and discuss the future of on-chain liquidity.

🔗 RSVP: https://t.co/6Wcmc4zkDC

[Luis Montealegre @luis_trenches]

LOS ANGELES!!!!! 💙

@Dodgers INSANE SERIES

[Luis Montealegre @luis_trenches]

👀👀

[Wall St Engine @wallstengine]

Zelle, the bank-owned money transfer app used by more than 100M U.S. customers for instant domestic payments, says it plans to enable INTERNATIONAL transfers using stablecoins.

The service will be available to any bank in the Zelle network

[Luis Montealegre @luis_trenches]

🐐🐢

[3lixbt (🗣️,🤝) @3liXBT]

$TURTLE AIRDROP ALL-IN-ONE DASHBOARD
(link in comments 👇)

I've been cooking this dashboard for the past hours. It contains all information you need:
- amount of claims and number of tokens claimed split between non-vested and vested
- amount of forfeited (slashed) tokens
- pie chart of realised vs slashed vs remaining tokens
- top claimants (very cool to see the whales in action)

and more.

For me, the most interesting part is seeing how many tokens are forfeited, since all these tokens will be going to S2 participants that wait the full 12 weeks.

All information comes directly from the claim contract address and is checked, and thus is fully accurate.

Did I miss any interesting data? If you'd like me to add something, let me know in the comments!

[Russell Westbrook @russwest44]

LIGHT THE BEAM #whynot

[Luis Montealegre @luis_trenches]

👀🐢

[Abbas Khan ⟠ @KhanAbbas201]

Who are the best people to talk to regarding TVL sourcing and TVL deals in general?

I have a lot of interested teams and want to learn more on how things work?

[Luis Montealegre @luis_trenches]

Turtle 🐢

[Luis Montealegre @luis_trenches]

@LAGalaxy From South Central w Love 🔥@paken10

[3lixbt (🗣️,🤝) @3liXBT]

What makes this @turtledotxyz partnership even more interesting is this 👇

hwHLP is already on @Pendle_fi with multiple strategies:
> YT-hwHLP: Max Wave Points, no yield
> LP-hwHLP: Mix of yield + points
> PT-hwHLP: Fixed yield, no points

You can even loop it on @eulerfinance up to 9.98x leverage. ROE around 78.6% for the degens.

This reminds me of @katana's productive capital thesis: Every asset working multiple jobs.
Or in this case: hwHLP earning HLP yield while being used as collateral elsewhere.

For example @Lombard_Finance LBTC plays similar games:
Earn native BTC yield on your $LBTC while using that same $LBTC in DeFi.

The pattern with all of these is clear: single assets, multiple revenue streams.

Hyperwave is incubated by @swellnetworkio team by the way. Same folks who built a lot of liquid staking infrastructure, which means it is secure.

You can check your positions here: https://t.co/6CKBGIM8Sj

The cross-chain yield wars are heating up 🐢

[Luis Montealegre @luis_trenches]

🐐

[Verdades @pedro_verdades]

You're yappin' turtle, but how many referrals do you actually have?

[Antarctic🧊 @Antarctic_Ex]

🐢Ready to dive into DeFi with ease? Antarctic Exchange has officially integrated with @turtledotxyz .

🐢 Turtle is a Web3 distribution protocol that helps users track their DeFi activities—such as providing liquidity, trading, staking, and referrals—via API, and earn rewards from these actions without relying on smart contracts or custodial funds.

✅ Stake assets, earn rewards
✅ Simple step-by-step UX
✅ Instant access to top DeFi strategies

🔗 Get started now: https://t.co/8i0lHaVKRJ
📚 Full guide: https://t.co/W7zd4fMDtE

#DeFi #Turtle #AX #Defi

[Turtle @turtledotxyz]

Turtle partners up with @Antarctic_Ex

AX Exchange is embedding Turtle Earn directly into its trading interface, bringing curated DeFi opportunities to active users where they already trade.

By integrating Turtle’s deal flow into AX, we unlock access to higher yields for a wider community of LPs.