Aave upgraded its savings GHO product to a new ERC-4626-compliant vault. The savings yield now accrues directly in the share-to-asset conversion rate with no weekly Merkl claims, no lockup period, and no rehypothecation of deposited funds. sGHO is a yield-bearing token that accrues interest over time.

The upgrade also brings GhoRouter, a stateless routing contract that enables USDC-to-sGHO conversions in a single transaction. ERC-4626 allows DeFi protocols to build on top of any vault without needing custom integrations. Legacy stkGHO holders must migrate manually, as rewards on the old contract will be reduced over a seven-week transition schedule. sGHO positions are viewable through Aave Pro.

ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.

Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.

Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created

Senate Banking Committee Chairman Tim Scott released the latest draft of the Digital Asset Market Clarity Act ahead of a markup scheduled for Thursday, May 14. The White House is targeting July 4 for House passage, with four working Senate weeks in June reserved for Senate floor consideration. The nine-title bill draws a firm line between the SEC and CFTC by distinguishing between digital commodities and ancillary assets.

Ancillary assets are coined as network tokens whose value depends on entrepreneurial or managerial efforts. A new exemption called Regulation Crypto would allow ancillary asset issuers to raise capital from retail investors without full securities registration, capped at $50 million per year over four years or 10% of outstanding asset value, with a hard ceiling of $200 million.

On DeFi, the bill defines a protocol as decentralized only if no single person has the practical ability to control, alter, or censor its operations. The bill's most contested provision, Section 404, prohibits covered digital asset service providers from paying passive, deposit-like interest on payment stablecoin balances. The exact contours of permissible yield programs will be left to joint rulemaking by the SEC, CFTC, and Treasury.

Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created

Incentives are now live for USDm on the Aave V3 MegaETH market. The market supports both USDm and Ethena's USDe stablecoin, with USDe already seeing over $100 million in deposits. Users can supply USDe as collateral to borrow USDm, earning a promotional rate of about 3% APY.

Over 342 million USDm has been deposited into the market so far. Aave is also planning to increase USDe deposit caps to a target of $500 million on the market. MegaETH is a high-performance Ethereum-compatible chain launched in February 2026.

EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn

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