#稳定币生态 The key change in the 2025 crypto market is that the speculative cycle is officially shifting to an asset-liability driven model. This presents both challenges and opportunities for the yield farmers.

Let's look at some hard data: stablecoin supply has increased by over 50% year-over-year, with $20 billion flowing into interest-bearing stablecoins. The RWA (Real-World Asset) scale has expanded from $4 billion to $18 billion. What does this indicate? The market is evolving from pure gambling mentality to genuine asset management, and the stablecoin ecosystem is at the core of this migration.

For us, the opportunities are here:

**Step 1** — Focus on new stablecoin ecosystem projects, especially those involving interest-bearing tracks and interactive tasks. These projects typically require configuration rewards.

**Step 2** — Develop RWA-related interactions. The expansion of on-chain real assets means new onboarding projects and testnet demands. Early participation costs are low but the airdrop potential is high.

**Step 3** — The proportion of DEX derivatives trading has quadrupled. Liquidity mining and trading rewards on derivatives platforms are becoming more attractive. Focusing on a few top projects is enough.

The logic behind this yield farming wave is clear — shifting from speculative projects to ecosystems backed by real assets. Our goal is to position ourselves early, follow the rhythm, minimize costs, and maximize returns.